Author Topic: Is buying to save money a thing here?  (Read 7192 times)

cordgrass

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Is buying to save money a thing here?
« on: May 19, 2013, 05:28:28 AM »
Maybe it's a feminine vs. masculine approach, but I've been living a somewhat frugal life for the past several years now, and I found the most helpful thing at the beginning was actually buying stuff.  I guess it's like Mr. Money Mustache's purchase of a good bicycle.  I was also influenced by trying to be as zero waste as possible.  All of the things listed below cost me a lot of money at first, but are saving me money over time:

A Fagor pressure cooker
A slow cooker
A waterproof steel tiffin to take my lunch to work
Good walking sneakers
A very warm winter long coat (like wearing a sleeping bag)
A durable messenger bag, to make it easier to walk carrying all my work things
Glass storage containers with rubber seals to store my bulk items like rice and dry beans
Pyrex containers to store and freeze the food I cook
Handkerchiefs
Cloth dinner napkins
Microfiber cleaning cloths
A Merkur safety razor
An old fashioned boar bristle shaving brush
A mooncup (aka Keeper or Diva cup) along with Glad Rags
A very large drying rack for laundry
Clothesline and clothespins
Warm blankets and sleepwear
Insulated curtains

I found it was worthwhile not waiting until I was out of debt to purchase the above items.  Over time they have saved me a ton of money.  I can't believe how much I used to spend on disposable plastic crap and things like paper towels and tissues.  I think the pressure cooker was the most important purchase.  Every week I roast a chicken, and where I used to throw away the carcass and skin, now I make delicious broth in about a half hour that I use in a lot of my cooking, including the obvious--making soup. 


mpbaker22

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Re: Is buying to save money a thing here?
« Reply #1 on: May 19, 2013, 06:42:15 AM »
It's definitely a thing here.  Everyone does their own thing, but people like to buy high quality even if it costs a bit more because it's usually cheaper in the long run.  This is emphasized more by Jacob at ERE, but MMM does some too.
I believe handkerchiefs have been mentioned.  I think a big one on here would be garden materials.  Up front costs for a garden are usually more than the cost of going to the store and buying a weeks worth of groceries, but you can save tons in the future.  etc.

cerberusss

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Re: Is buying to save money a thing here?
« Reply #2 on: May 19, 2013, 08:29:43 AM »
I bought some PC software + mobile app that helped me get insight into where all my money was going. I felt bad, like filling a hole with a bigger hole. But in the end, it probably saved me lots of money.

Instead of doing groceries, I started ordering my groceries online and paying 5 bucks to get them delivered. On one hand, I'm paying extra. On the other hand, when we're in the store, it seems we're not disciplined enough to stick to a budget.

Some other, bigger things:
- paying big bucks for solar panels, and start saving after only 7-9 years
- paying for insolation of the house
« Last Edit: May 19, 2013, 09:19:03 AM by cerberusss »

EK

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Re: Is buying to save money a thing here?
« Reply #3 on: May 19, 2013, 03:03:20 PM »
This is something I think about a lot... In my former life as a spendthrift, I bought a lot of stuff.  And it wasn't cheap junk.  Quality clothing, a kitchen full of quality cooking implements, nice things for the house (like nice bedding and pretties like decorative pillows).

While I certainly spent too much money on things that provided no increased happiness, the fact that I bought all that stuff, means that, now that I'm ready to tighten up, I don't have to spend money on those things.  I'll never buy another set of pots and pans for the rest of my life.  I love being at home because my house is filled will beautiful, comfortable things that I plan to keep until they wear out.  I have a wardrobe of good quality clothes that should last me a decent length of time as long as I take care of it...

So... I guess in conclusion I don't really know.  Some things were a waste and I wouldn't spend the money now if I could have a do-over, but plenty of it I don't regret at all... Even a lot of the pretty things that are not strictly "mustachian."  It complicated, and each person has to make the decisions that are right for them.

Lina

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Re: Is buying to save money a thing here?
« Reply #4 on: May 19, 2013, 03:38:15 PM »
I don't see buying per see as the problem it is rather what you buy that is mostly the problem.

I buy good quality clothes that last. I have a fully equipped kitchen with high quality goods that will last forever. When I do buy something I buy quality stuff or I don't buy at all. Mostly the high quality items will last a lot longer then the cheaper, which will save me money in the end. Before I buy something I will consider how much I really need the object and if it is something that is going to be used once a year or even less, I don't buy.

I remember a roll of paper towels would last Grandma C. a really long time.  She used dust rags for dusting, dish rags for dishes, etc. 


Do you mean that you use paper towels to dust and make the dishes?

mpbaker22

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Re: Is buying to save money a thing here?
« Reply #5 on: May 19, 2013, 04:52:42 PM »
I remember a roll of paper towels would last Grandma C. a really long time.  She used dust rags for dusting, dish rags for dishes, etc. 


Do you mean that you use paper towels to dust and make the dishes?

Maybe the poster does, but I think most people use paper towels to dust.  Never heard of it for dishes though.

To the OP - I think housing is a big one.  It's common for people on here to rent/buy depending on what's best for them in the local market.  People are less likely to buy based on the emotion of wanting to own a house.  I remember about this time last year I was interested in buying a house.  I was looking at your typical suburban waste, though I at least wasn't going to mortgage myself to the hilt as I already had some financial sense.  Now, I'm not even considering anything unless it has about the same return as my apartment.

Frankies Girl

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Re: Is buying to save money a thing here?
« Reply #6 on: May 19, 2013, 05:27:46 PM »

We buy quality stuff, but we wait until it's on sale and try to get the best deal possible. It absolutely makes more sense to have a bit higher cost up front on better quality if it will last longer and work better.

We still buy paper towels but a roll can last us months. We only use disposable for really gross stuff (like the cat throwing up). We use dishtowels for general cleaning and dusting.

cordgrass

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Re: Is buying to save money a thing here?
« Reply #7 on: May 19, 2013, 06:37:33 PM »
Thank you for all the responses, I will fit right in here!

In some ways, the way I live feels very retro, like the way people lived in the 30's and 40's.  All lot of people think I'm a freak, line-drying my clothes and making homemade soup, but it feels satisfying and saves money.

I also still buy paper towels, but one roll will last me a couple months--I only use them for really dirty jobs.

arebelspy

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Re: Is buying to save money a thing here?
« Reply #8 on: May 19, 2013, 07:22:23 PM »
Whenever I hear this, it throws up a red flag in my mind.

So many people use it as an excuse to spend more (especially personal finance bloggers).  They claim to pay $250 or whatever for jeans that are higher quality, then get rid of them in a year when they're out of fashion (or don't actually last any longer).

For some, yes, buying higher quality is better.  For most, it's an excuse to spend more.

Further, if the item is of such high quality, buy it used.  It should still work perfectly well if it's actually of good quality.

"I'm going to buy this brand new expensive item, but it'll last me SO LONG."

Right.  Sure.

This is not directed at you cordgrass - it sounds like this is not the case for you - just to the idea in general.
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cordgrass

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Re: Is buying to save money a thing here?
« Reply #9 on: May 19, 2013, 09:49:11 PM »
Well, very few of the things I mentioned were expensive in themselves, but all added together it added up to a bit of money.  The insulated curtains were expensive, but they did pay for themselves pretty quickly.  The warm blankets were spendy, but I don't think you can get those used.

I wouldn't want to buy used sneakers, and certainly not a used mooncup!  I think spending a little extra on the sneakers was worth it; they truly are lasting longer than cheaper sneakers I've bought in the past, and I'm walking several miles a day.

I'd be worried about buying a used pressure cooker or slow cooker for safety reasons.  Slow cookers are pretty cheap anyhow.

Theoretically I could have bought a used winter coat and messenger bag.  But I'd rather buy used clothes that aren't so critical for my commute, especially my bad weather commuting.

The safety razor and shaving brush I definitely could have bought used.

mpbaker22

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Re: Is buying to save money a thing here?
« Reply #10 on: May 20, 2013, 07:24:19 AM »
So many people use it as an excuse to spend more (especially personal finance bloggers).  They claim to pay $250 or whatever for jeans that are higher quality, then get rid of them in a year when they're out of fashion (or don't actually last any longer).

Very common for PF bloggers to suggest insulation or programmable thermostats.  Yes, they calculate it out and show you how they save money.  But it would be cheaper to get a smaller place and heat it to 55 in the winter and cool to 85 in the summer.  Most PF bloggers assume you heat to 75 in the winter and cool to 72 in the summer (exaggeration).  It's insane!

Another example would be renovating bathroom or kitchen because it will put value back in the house.  They are often good ideas, if you do them yourself.  Otherwise, the calculations usually ignore opportunity costs/investment costs and have skewed results.

meadow lark

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Re: Is buying to save money a thing here?
« Reply #11 on: May 20, 2013, 08:01:31 AM »
My wife often insist on buying high quality, even for things that quality isn't so important on.  For instance, we have VERY nice camping equipment, that we have used once in the past 2 years.  She has really nice hiking poles, fishing gear, etc.  All things we do about once a year.  No, actually the quality is not so important.  $500 bike for our son, which he quickly had stolen (he doesn't admit it, but I have no doubt he didn't use his lock.)   Couches also.  Our Lazyboy that my wife insisted on, looked pretty bad after 5 years of a kid plus 3 big dogs..  Which is not a comment against Lazyboy - nothing can withstand that abuse.  But we replaced it at 9 years with a $300 couch from Big Lots.  Yes, that will be torn up too, but will probably look as good for about as long as the $900 couch.  But it's looking like new at 2 years, and I expect we won't replace it until our dogs have gone to heaven.

Lina

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Re: Is buying to save money a thing here?
« Reply #12 on: May 20, 2013, 09:33:54 AM »
Whenever I hear this, it throws up a red flag in my mind.

So many people use it as an excuse to spend more (especially personal finance bloggers).  They claim to pay $250 or whatever for jeans that are higher quality, then get rid of them in a year when they're out of fashion (or don't actually last any longer).

Further, if the item is of such high quality, buy it used.  It should still work perfectly well if it's actually of good quality.


I guess that buying quality is often used as an excuse but you also have to choose when to buy quality stuff. If you use the stuff once a year maybe it is better to rent quality stuff for the time.

I prefer higher quality in clothes but on the other hand I would never buy fashion items of high quality as they are fast becoming out of fashion. I buy classical pieces that can be worn for years without being out of fashion.

I don't personally like the thought of wearing someone else old clothes so I never buy used but I give or sell the stuff that I don't need anymore.

smalllife

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Re: Is buying to save money a thing here?
« Reply #13 on: May 20, 2013, 10:22:27 AM »
Yes, quality can become an excuse, but I also think that buying quality items (where items are needed) is a good foundation for the future even if it causes slightly lower savings rates now. 

I say this because that is my personal preference.  I recognize I could live in T-shirts from Goodwill and the rusty garden tools that barely work I inherited, but I prefer to spend the money on classic clothes that fit me, make me feel confident (starting the optimism cycle) as well as the home basics (Pyrex containers, etc.).  I look at the thrift stores first, but the time and energy it would take me to find the diamond in the rough is not worth it to me.

Examples:
-I lived with a few rag tag storage containers, hitting up Goodwill every two weeks to see what they had.  Then I "caved" and bought a set of Pyrex storage containers and mixing bowls.  Result?  I cook more, am more likely to eat leftovers for lunch the next day, and can take advantage of the bulk section in a nearby store.  This clearly saved me more than the $40 start up cost.

-Home renovation: chose to pay more for the things that would matter in the long term - hardwood upstairs (and hence no vacuum cleaner), gas water heater (break even point = three years), a soapstone kitchen counter top (easy to clean, classic, inspires me to use the kitchen), and fix the alright, but would soon have problems plumbing while we were already re-wiring (70 year old wiring, safety hazard).  This, augmented with free furniture, not fixing up the outside as much, doing a lot of the work ourselves, and salvaging items where ever possible, was also a good decision.  Savings?  Probably break even overall for the next 5 years but I plan on staying here/renting it for a looong time.

-Safety razor: Could I have bought used?  Yes, but everything I read said that it was best to go with something new unless you were buying in person and knew how to evaluate the red flags.  As neither of those applied to me, I got a Merkur with high reviews.  It has already paid for itself in a matter of months (I had run out of razors anyway).

-Diva cup/cloth pads: you don't want to buy these used . . . . and are worth every penny. Not to mention I love sticking it to the man every month ;-)

My point in all of this is that if there are things in your life that need "stuff" to function and you don't already have a workable alternative, it is worth it to spend for quality.  After checking second hand stores, and price checking/sale hunting online first . . . .

Purple

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Re: Is buying to save money a thing here?
« Reply #14 on: May 23, 2013, 11:31:09 PM »
This is an interesting topic to me. I have definitely found my ever increasing Mustachianism way easier due to the things we love that we have accumulated over the past 10 years of married life. Things like camping gear, slow cookers, good coats and work clothes, picture frames holding photos/art we love, furniture, bedding, garden tools, family car, bikes, good camera, computer each etc.

Also, our children are now 6 and 8 which means everything now is for the long term and is settled e.g. beds, desks, many clothes etc.

I have no doubt that all of the daily Mustachian habits are easier and more pleasurable with solid infrastructure. Of course, it is vital that great consideration is given to how these things are acquired - but I sometimes think that advice given to younger members of MMM does not recognise this fact.

jfer_rose

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Re: Is buying to save money a thing here?
« Reply #15 on: May 24, 2013, 05:21:54 AM »


We still buy paper towels but a roll can last us months. We only use disposable for really gross stuff (like the cat throwing up). We use dishtowels for general cleaning and dusting.

I stopped buying paper towels altogether after reading a tip on a blog about using two spackle knives to clean up cat vomit and hairballs. It actually works so much better than paper towel, especially on rugs (the spackle knives allow you to really get everything up). I wish I had done this sooner!

StarswirlTheMustached

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Re: Is buying to save money a thing here?
« Reply #16 on: May 24, 2013, 03:40:47 PM »
I heartily subscribe to the "Sam Vimes Boot Theory" -- though my father drilled that one into me before I read any Diskworld. "We can't afford to shop at Wal-Mart," he'd say.

OTH, more than half my furniture is used, surplus that'd have been on its way to the dump (or WAS on its way to the dump) before we picked it up. "They don't make 'em like they used to" means the quickest way to quality is often through the thrift store. Not always, but often enough.

I recognize I could live in T-shirts from Goodwill and the rusty garden tools that barely work I inherited, but I prefer to spend the money on classic clothes that fit me, make me feel confident (starting the optimism cycle) as well as the home basics (Pyrex containers, etc.).  I look at the thrift stores first, but the time and energy it would take me to find the diamond in the rough is not worth it to me.
My brother claims to have found an Armani suit in a thrift store-- it fit, too! I bet it's a knockoff, but I my jealousy still burns with the fire of a thousand suns. Best I've gotten is some trousers and a tweed blazer (handmade scotch wool, though!) that needed fitting. He does spend a lot more time roughing out the diamonds, though. Sometimes I wonder if I should hire him as a personal shopper, but then I realize that my closet is already full.

kevin78

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Re: Is buying to save money a thing here?
« Reply #17 on: May 28, 2013, 06:25:34 PM »
My brother claims to have found an Armani suit in a thrift store-- it fit, too! I bet it's a knockoff, but I my jealousy still burns with the fire of a thousand suns. Best I've gotten is some trousers and a tweed blazer (handmade scotch wool, though!) that needed fitting. He does spend a lot more time roughing out the diamonds, though. Sometimes I wonder if I should hire him as a personal shopper, but then I realize that my closet is already full.

You would not believe the high end clothing we have found over the years... dad does ebay and buys menswear to resell.  The best one I know of was a Bijan sportcoat which he bought for $3 and sold for like $400-600 (can't remember what he said but he was pretty happy about it.) Same with Brioni and Kiton, those are rare finds at the thrift store and are valuable. 

Heck I've found tons of Armani and Ermenegildo Zegna suits and sportcoats for a few dollars.  I was on Rodeo Dr. in Hollywood a couple years ago and looked in the Zegna store and the sport jackets were 5000 bucks there.  Its amazing, clothing is worthless to people if it doesn't fit or they don't like it no matter how much they spent on it apparently.

 

Wow, a phone plan for fifteen bucks!