Is Being Frugal Worth It?

Thanks to the highly publicized television show Extreme Couponing on TLC there seems to be a couponing craze overtaking the nation. High unemployment coupled with high gas prices are also spurring people to take a closer look at the frugal lifestyle. After all, seeing the person in line in front of you with a handful of coupons walk out with an entire cart of groceries for just 15 bucks will make just about anybody consider jumping on the frugal bandwagon.

But is there a downside to being frugal? In this post I’m going to quickly dive in to some of the side effects of adopting the frugal lifestyle.

The Stigma

If you decide to live a frugal lifestyle, what will everyone around you think about how you’re living your life? Will they say “Oh they are really good with money” or will they rather say things like “She’s just a cheapskate”.

The cashier may be annoyed that you show up with a bunch of coupons. The person behind you in line certainly won’t like that you’re slowing down the line. Your friends and your family are going to wonder if you can’t afford things because you’re poor or broke. Like it or not, there’s a stigma to being frugal.

It’s Time Consuming

Being frugal can most certainly save you significant amounts of money, but how much time does it take to rack up those savings? If you search online for one hour and end up with a $1 coupon, you have just earned a measly wage of $1/hr.

Clipping coupons, scouring consignment shops, and hunting the best bargains are time consuming tasks. To be a good frugal shopper you need to have time to dedicate to your frugal endeavors each day to make sure you don’t miss out on any great bargains.

Conclusion

Most people would agree that the time spent searching for coupons and deals is well worth the drastic savings they enjoy. Only you can decide how much your time is worth, and whether being frugal is something you wish to do. Alternatively, to save time, you could choose just one way to save money, like clipping grocery coupons or shopping at discount stores. There is no right way to save, so you should do what works best for you.

If others snicker or whisper about your frugal ways, ignore them. They could be jealous that you’re saving money while they’re paying full price. For all you know, they could be closet coupon clippers too.

About The Author

Edwin is a marketer, social media influencer and head writer here at Frugal Wiz. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.

1 Comment

  1. Kylie Ofiu

    We don’t really have the coupons and things here in Australia that you have, although there are a few sites here and there offering discounts sometimes.

    More often than not, from what i have seen and heard I don’t think couponing is really worth it if you spend a lot of time searching for it, but it can save you money. It is about working out what your time is worth to you.

    Reply

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