Being Cheap Can Actually Cost You More in the Long Run

by Justin on April 21, 2016

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Being cheap has usually a negative connotation when it comes to describing a person.  I immediately think of friends of mine who will run to the bathroom when it is time to buy a round of drinks, or all throwing money in the center of the table, clearly seeing they shorted the amount for a tip.  When it comes to spending, those that are cheap are thought of to have more money in their bank account because of their lack of spending, but it turns out that being cheap may not get you further ahead in all aspects.

Sticking to the Dollar Menu When Eating Out

Sure you are spending $3 on a burger, fries, and a drink for lunch or dinner, but skimping on quality of food for the price will definitely cause you problems later in life.  Unhealthy eating is not worth the risk, and actually responsible shopping at the grocery store, setting up meals for the entire week can cost just as much as eating out cheap every day, except much healthier and easier on the scale.

Buying Cheap Paper Products

Buying the cheapest paper towel, tissues, and toilet paper does not get you further ahead.  When wiping up a spill the thin cheap paper towels will not soak up and rip, causing the need for more.  Cheap tissues can cause inflammation in your rose and feel like sandpaper, not to mention toilet paper will hurt even worse.

Failing to Invest Disposable Income

People often stuff their money into the bank, or figure that if they have an extra dollar or two they should spend it on something frivolous. But being cheap can often mean failing to invest as well. Inflation is a very real issue. If you don’t invest your money take advantage of years of compound interest then you will ending up having less in retirement than you do now. Binary options are a great way to jump into the market and start investing. Check out Banc De Binary for some options available to you.

Leaving the Check Engine Light On

I have seen plenty of my friends drive around with warning sensors on, not caring in the slightest, saying they are always on.  If a warning light is on, something is not right.  While it may not cost an arm and a leg now to fix the issue, there is no point in delaying the inevitable.  Not fixing an issue now it just setting up for a much larger issue in the future.

Handing Home Improvements Yourself

I have learned over the years that are there just some things you have to hire a professional for.  Some projects around the house I have either just spend too much time working on that would have taken others mere hours, or I have messed something up so bad that someone needed to fix, crown molding

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