Saturday, May 18, 2013

Spending money can save you money

Can spending money, save you money?
The majority of people equate frugality with spending the minimum on necessities and spending next to nothing on everything else. But on the following four items you don't want to scrimp on. 
In fact, spending money on these will save you money in the long run.

    Home safety
    This should not be compromised in order to save money. 
    Locks and deadbolts, windows locks and working fire alarms/ extinguishers are necessary. 
     It is absolutely worth it to spend a little extra money to fix wobbly steps or child-proof your cabinets.
    Preventive medical and dental care.
    It is easy to put off small medical or dental problems until "later" in order to save money. 
    Most of the times, when "later" comes, the problem has gotten so big that the expense in money, time, and quality of life is much greater than if the problem had been taken care of when it was small.

    For low or no-cost medical and dental services, check with teaching hospitals or dental schools at colleges and universities in your area.

    You never know when you are going to need it. 
    Health, automobile and life insurance can take a pretty big chunk out of your budget, but the risk of canceling your insurance then having a major medical situation, a serious automobile accident, or having the family wage earner die, can be a very bad place to be.

    To save money, drive a car that is cheaper to insure (older models) or/and raise you deductible.

    Preventive home/car/appliance maintenance.
    Money spent on preventive maintenance for the above, can save you a lot of money in the future. 
    Is the paint chipping off on your home or your deck? 
     Repainting as soon as possible will save you the cost of repairing water and bug damage in the future.
So stay frugal and be smart about it,


deborah said...

Great thoughts! Some of this stuff is easy to put off and procrastinate on that's for sure! And definitely isn't saving you anything.... :)

Kelly said...

You are right! Those are all very important things to spend money on. We have some rotton wood on the back of our porch that is in dire need of repair! We are in the process of getting someone to quote to repair it as it is beyond what Jimmy can do. I keep reminding him that it will only get worse the longer we go without it getting fixed. He is so busy these days, that I have taken it upon myself to get someone to take care of it. Home repairs add up, but they are necessary since your house is your biggest financial asset.

Anonymous said...

All good things to spend money on. Even though I rent and mu utilities are included I still repair caulking around the windows and other little things that make the home more comfortable and keep my energy use down.

I did cancel both my car insurance and renters insurance. I gave away my car and because I'm over 25 am covered by my sons insurance when I borrow a vehicle. The renters I canceled when I realized I had nothing of value. Everything in my home was found or picked up for just a few dollars. If I lost everything I could completely start over for probably less than $200.

Libby said...

I wholeheartedly agree. You would be a great financial counselor. :-)

Lena said...

So true! Prevention is the key. Now I just wish I could encourage my husband to be on top with all those repairs :)

Mariette VandenMunckhof-Vedder said...

Dearest Daniela,
LOVE your common sense attitude towards life! You are dealing properly with mid- and long-term issues in life. When not doing that; we pay twice or maybe triple in the end.
Enjoy a great Pentecost weekend.

Jeanne Ireland said...

You are spot on with this post. Penny wise, pound foolish - as the sayinggoes.

Cristina Garay said...

Daniela, You're so right, prevention is the key! As for the insurances I think those are a necessary evil!

Jeanne Ireland said...

Hi! Are you out there somewhere?