Hey, I’ve been there. As a first year public school teacher, right out of graduate school and on my own for the first time in my life, I struggled to make ends meet. I took the bus, became acquainted with the lowest shelves in the grocery store, subsisted almost entirely on ramen noodles, and went to parties just because they were offering free food. There’s an art to getting by on almost nothing, and I was Picasso!
But I made a few mistakes along the way, and I learned a few things. And one of the most important lessons that I learned is this: there are some things you should absolutely never (and twice on Sundays!) save money on. It’s short-term vs. long-term. You’ll save money now, but at what expense. Trust me, in the long-run, it WON’T be worth it. Submitted, for your approval (actually, I don’t really care whether you approve or not), are the 5 things you should absolutely NOT try to save money on.
A Bed. Beds prices range widely, and you can expect to pay several hundred (or even a thousand plus) dollars for a nice bed. On the other hand, you can probably find one on Craigslist, or from your best friend’s roommates cousin for next to nothing. Don’t do it! This is a trap. A bad bed means bad sleep, and without proper sleep, you aren’t doing anyone any good. Now I’m not saying you should get a top of the line model, but at the very least, never buy a bed unless you’ve slept in it before.
Alternative Option: As for sheets, furniture, bookshelves, buy them second hand. Who cares if they don’t match?
Groceries. Now, no one is telling you to go buy caviar, but make sure you get some produce in your diet. If you don’t, you are going to feel not-so-great in the short-term and in the long-run, well, there might not be a long-run if you don’t. Frozen fruit and vegetables are pretty cheap, and if you throw them in a smoothie or a stir-fry, are an easy way to get those nutrients!
Alternative Option: Don’t go out to dinner unless it’s a special occasion. A good rule of thumb: never order something you could make yourself.
Coupons. Groupon’s great, as are Black Friday deals, etc.: the more you buy the more you save. The issue here, of course, is the “more you buy” part. Use coupon’s sparingly, and be absolutely sure you would have purchased this item anyway. Take it from me, as someone who once had to throw out 11 boxes of stale cereal: if you don’t use it, it’s not saving!
Alternative Option: Make a list of things you need before you go coupon hunting. If it wasn’t on the list when you started, then don’t buy it!
Landlord/Roommate. Everyone’s had this situation: you find a great apartment at a reasonable price, but you aren’t crazy about the landlord or your roommate. Run, don’t walk! This is a recipe for disaster. The time (and money you spend dealing with a situation like this will absolutely not be worth it.
Alternative Option: Settle on as many terms as you can upfront. It’s much better to have this conversation in the abstract up-front, then to be arguing about whose responsibility it is when something breaks!
Computers/Computer stuff. Heaven knows that you can certainly overpay for technology (beware of bells and whistles!), but be wary of computers, routers, etc. on the super-cheap. They break or stop working for no specific reason, and it always is at the worst possible time. Do yourself a favor, and get something that is reliable. It’ll last longer too, which will save you money.
Alternative Option: Does anyone really need cable anymore? And what are you really doing on your smartphone that you need such a big data plan? Your motto should be: basic, but reliable.
And there you have it. The one thing I didn’t realize while living on a budget was this: sometimes (actually, most of the time), what you buy is as important as what you save. Of course, like anything, you can always take this too far. There simply is no substitute for common sense!