Now that we’re talking about it, are there any situations where being cheapskate is a positive rather than a negative thing? The answer is yes! Below are some examples of situations where being stingy can be positive in the long run.
Use ride-sharing apps like Uber or Lyft.
A study shows that using Uber or Lyft can cost less than owning a car. From car maintenance to insurance, parking and, most importantly, gas, owning a car can cost you an average of $10,663, compared to an average of $8,000 if you carpool. That’s assuming you travel around 10,000 miles a year.
Brand name drugs over generic drugs
The U.S. Food and Drug Administration has confirmed that buying brand-name prescription drugs will cost you more than buying the generic version, which is on average 85% cheaper. Generic drugs use the same active ingredients and quantities as the brand-name versions, so unless your doctor has given you a specific reason to use a brand-name drug, it is recommended that you check first to see if he or she has a cheaper generic version.
Prepare food from scratch
Eating out costs more than cooking at home because of the extra costs involved – gas and labour, to name a few. When you cook from scratch at home, you only pay for the ingredients – and transport – which is much cheaper than eating out. If you compare the food budget of someone who cooks at home and someone who eats out, even with the same amount of money, the person who cooks at home will save more than the person who eats out.
Learn to rent
When it comes to things you won’t be using for a long time, but you need right now, it’s better to rent than buy. It’s cheaper to rent things like tools, formal wear, etc. if you know you won’t use them often. Buying something you don’t use often is usually a waste of money and will just gather dust.
Greeting cards and gift wrapping
When you receive a gift that has been beautifully wrapped, instead of tearing it open, it is best to carefully remove the wrapping paper. They can be reused in many ways. They can be used for scrapbooking – as book covers, bookmarks and the like. You can also use them to make your own greeting cards. Not only are commercial greeting cards expensive, they’re also wasteful because they can’t be reused. Making your own card will not only save you money, it will also be more special.
Bottom line.
Being cheap doesn’t always mean you don’t want to spend money. It just means that you have more opportunities to save your money for something important. A stingy person or a frugal person, with the fine line between them, are both just trying to save as much money as possible.
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