7 Things I DON'T Do To Save Money (2024)

by Diane

I’m pretty focused on being frugal and saving money wherever (and whenever) I can, then I read11 Outrageous Things People Did To Save Money and I decided I’m not THAT frugal after all!

While I can understand putting your pee on the compost (it’s high in nitrogen), and I can understand buying your meat on the hoof because it’s not only cheaper but you also know it’s provenance, I just don’t get washing and reusing paper towels or foraging in bins at the cinema so you can get free refills to save money. Seriously, if you don’t want to pay cinema prices for snacks, go to the grocery store beforehand or bring something from home.

This list of extreme ways to save money got me thinking about the things I don’tdo to save money. You can safely add basically everything that was on thatlist above. I haven’t seen the Extreme Cheapskates show but I’m guessing, you can probably add everything on the show, too.

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7 Things I don’t do to save money

Here’s my list of relatively reasonable things that Idon’t do to save money:

1. DIY Laundry Detergent – Making your own laundry detergentis possibly worth it if you have a large family and are putting a load of washing (or two) on every day. Maybe. I have made my own laundry detergentbefore and found the ingredients for making the washing powder weren’t that much cheaper (if at all) than buying my favorite laundry detergentwhen it’s on special and using a little less than is recommended so it lasts longer. My clothes are never thoroughly filthyand just need a freshen up so half the recommended scoop does the trick nicely.

2. Make My Own Tortillas – This is about valuing time more than saving money. I have made my own tortillas and they are fabulous. I love using them to dip into hummus but… they are time consuming to roll and fry. Given that fajitas and baked burritos are favorites in my house, if I made the tortillas from scratch every time we ate them, that’s all I’d be doing. Instead, I buy them from Aldi for $1.99 for a pack of 8. And, reserve cooking them from scratch for special occasions.

3. Wash Out and Reuse Ziploc Bags – I’m not sure too much needs to be said about this. If you’ve had wet food in the bag you can never guarantee that you’ve washed it all out successfully and returned the bagto pristine condition. Additionally, how do you make sure they are completely dry? Bacteria doesn’t walk, it swims… Damp plastic bags are a recipe for disaster.

Related Post: How to Slash Your Grocery Bill by 50%

4. Not Using Shampoo (No Poo Method) – I get the theory behind it and it’s definitely a good thing staying away from all the nasty chemicals in commercial shampoo not to mention the tonnes of packaging that wont end up in landfill but, I don’t think I could get through the adjustment period without going nuts. I have long, thick, curly hair… I’m guessing the adjustment phase would be long and arduous.

5. Reusable Toilet Wipes– Apart from this one being decidedly on the gross side, I’m not sure where the real benefit is. Any advantage to the budget and environment in not buying toilet paper (after the initial investment in suitable material for the ‘reusable toilet wipes’) would surely be negated bythe additional costs of washing and sanitising these cloths, wouldn’t it?

6. Save Onion and Orange Bags to Use as Pot Scourers – I read this one in The Complete Tightwad Gazette7 Things I DON'T Do To Save Money (2) and figured the person who sent in that suggestion must eat a LOT of onions…

7. Cut Coupons – This one is dead easy. We don’t have access to coupons as such and those that do exist, I’d never buy the product in the first place. So, there’s no chance of me ever having 1000 bottles of free mouth wash cluttering up my garage.

Related Post: The Secret to Paying Off Debt

There are people who regularly do all these things to save money. Yes, that includes the reusable toilet wipes. They just don’t add up for me. I think there lots of shades of grey when it comes to what is really a money saving idea as well as what it means to be frugal. I don’t think I’ll be too disappointed that Extreme Cheapskates wont be knocking on my door anytime soon.

How about you? Where do you draw the line when it comes to saving money?

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7 Things I DON'T Do To Save Money (2024)

FAQs

What should you not do to save money? ›

10 Things You Shouldn't Do When Trying To Save Money
  • Go on a Pricey Vacation. ...
  • Pay For Entertainment. ...
  • Ignore your Bills. ...
  • Pay Unnecessary Bills. ...
  • Buy Expensive Gifts & Clothes. ...
  • Continue Bad Habits. ...
  • Buy New Books. ...
  • Pay Others to do What you Can Do Yourself.
Feb 9, 2024

How can I save enough money? ›

8 simple ways to save money
  1. Record your expenses. The first step to start saving money is figuring out how much you spend. ...
  2. Include saving in your budget. ...
  3. Find ways to cut spending. ...
  4. Determine your financial priorities. ...
  5. Pick the right tools. ...
  6. Make saving automatic.
  7. Watch your savings grow.

How can I spend less money everyday? ›

How to spend less money
  1. Avoid eating out. Eating in can be a great way to save money every month. ...
  2. Buy generic and used. ...
  3. Use public transportation. ...
  4. Check your insurance rates. ...
  5. Ask for discounts. ...
  6. Unsubscribe from marketing emails. ...
  7. Save your tax refunds.
Apr 10, 2024

How can I save little money? ›

10 Best Ways to Save Money
  1. Eliminate Your Debt. If you're trying to save money through budgeting but still carrying a large debt burden, start with your debt. ...
  2. Set Savings Goals. ...
  3. Pay Yourself First. ...
  4. Stop Smoking. ...
  5. Take a Staycation. ...
  6. Spend to Save. ...
  7. Utility Savings. ...
  8. Pack Your Lunch.

What is the 10 rule for saving money? ›

The 10% rule of investing states that you must save 10% of your income in order to maintain a comfortable lifestyle during retirement. This strategy, of course, isn't meant for everyone as it doesn't account for age, needs, lifestyle, and location.

What is a common mistake when saving? ›

Saving Too Much and Investing Too Little

"The biggest savings mistake people make is leaving too much money in their checking and savings account," said Dewan Farhana, founder of Doctor Finances.

How can I save $1000 fast? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

How to get money fast? ›

How to make money fast
  1. Test user experiences. ...
  2. Take surveys online. ...
  3. Sell stock photos. ...
  4. Sell other stuff you already own. ...
  5. Become a dog walker. ...
  6. Try pet sitting or animal care. ...
  7. Consider house sitting. ...
  8. Drive for a rideshare company.
Dec 13, 2023

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

How can I save a lot of money fast? ›

8 ways to save money quickly
  1. Change bank accounts. ...
  2. Be strategic with your eating habits. ...
  3. Change up your insurance. ...
  4. Ask for a raise—or start job hunting. ...
  5. Consider a side hustle. ...
  6. Take advantage of a credit card that offers rewards. ...
  7. Switch up your transportation habits. ...
  8. Cancel subscriptions you don't really need or use.

What are the 5 steps to save money? ›

5 simple steps to start saving
  • Set one specific goal. Rather than socking away money into a savings account, set specific goals for your savings. ...
  • Budget for savings. Just because you decide to save doesn't mean it's going to happen. ...
  • Make saving automatic. ...
  • Keep separate accounts. ...
  • Monitor & watch it grow.

What are the 4 steps to saving money? ›

Let's start with your monthly budget.
  • Step 1: Make a budget. A written budget maps out your income and expenses by showing where your money goes, month-to-month. ...
  • Step 2: Plan your savings. That extra money can build for the future. ...
  • Step 3: Manage your debt. ...
  • Step 4: Invest.

How can I save $20 a day? ›

20 Tips to Save $20 a Day
  1. #1: Cut your cable costs. ...
  2. #2: Make your home more energy efficient. ...
  3. #3: Make your car more energy efficient. ...
  4. #4: Slash your dry cleaning bill. ...
  5. #5: Eat out less—or hack dining out. ...
  6. #6: Start a garden. ...
  7. #7: Book your next vacation or business trip on AirBnB.com. ...
  8. #8: Automate your savings.

How to save up $10,000 fast? ›

6 steps to save $10,000 in a year
  1. Evaluate income and expenses. To make room for saving, you'll need a meticulous budget that outlines all your sources of income and all your expenditures. ...
  2. Make an actionable savings plan. ...
  3. Cut unnecessary expenses. ...
  4. Increase your income. ...
  5. Avoid new debt. ...
  6. Invest wisely.
Apr 2, 2024

How can I save $5000 fast? ›

Ways To Save $5,000 in a Year
  1. “Chunk” Your Savings. The first step to saving $5,000 in a year is to break down your savings goal into manageable portions. ...
  2. Automate Your Savings. ...
  3. Save in a High-Yield Saving Account. ...
  4. Track Your Cash Flow. ...
  5. Boost Your Earnings. ...
  6. Declutter for Cash. ...
  7. Evaluate Your Subscriptions. ...
  8. Challenge Yourself.
Feb 5, 2024

What is the 3 saving rule? ›

This model suggests allocating 50% of your income to essential expenses, 15% to retirement savings and 5% to an emergency fund. This plan allows you to meet your immediate needs and plan for the future before you spend on anything else.

Why do people not save more? ›

Lack of a measurable savings goal

Some people's savings plans consist of this: get paid, pay the bills, spend like they normally do, and save whatever's left. What if you could do things a little smarter? Saving money is just like any other goal: it's much easier to achieve it if you specify a target to reach.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

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