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How Cutting Corners Can Cost You More Money

How Cutting Corners Can Cost You More MoneyBetween your everyday expenses, savings and even some items you want, the cost of living is anything but cheap. You can often times feel as though you stretching your paycheck even at the best of times.

Hence, when you have additional costs and expenses added to your monthly list, the idea of spending more can sometimes make you cringe. In turn, you might look for ways to save money.

You might do-it-yourself, purchase used, or find other creative ways to save a buck. Although that might be ok in some circumstances, there are simply times when you should pay full price.

Here are four times you shouldn’t try cutting corners and how it could cost you if you do.

1. Opting for the Convenience

Fast food and processed food is popular for its convenience. After all, after a long day, cooking is sometimes the last thing you want to do.

That being said, while processed food might seem inexpensive and easy, those one-time meal costs will rack up far quicker than if you’d purchased fresh items and cooked for yourself.

Moreover, opting for the healthier choice will be better for your health in the long-run and will in turn, save you money on medical costs as well.

2. Skimping on Electronics

Electronics come at a high price, often to the point that purchasing one seems almost out of reach. Nonetheless, opting for the cheapest option available will save you in the short-term but will cost you in the end.

Unfortunately, the cheapest options usually aren’t the best quality, which means they won’t last long. That being the case, you’ll end up turning around and spending even more for a replacement.

3. Forgoing Routine Maintenance

It might feel like your car or home’s constant maintenance is expensive and unnecessary, however, it’s a cost you shouldn’t cut corners on. By spending a little every so often now, you’ll keep yourself from spending a hefty amount later.

Those routine maintenance calls and checks keep your home and car running and provide you with an opportunity to catch a small problem now, before it becomes a costly major problem later.

4. DIYing It When You Really Shouldn’t

Doing projects yourself always seems like the inexpensive option, but that’s not always the case. When it comes to certain home repairs or projects, unless you’re an expert yourself, doing something on your own could cost you more.

Electric, plumbing, and other major projects could cost you more on your own from lack of knowledge or a potential error, than if you’d merely hired it done. That being said, unless you know exactly what you’re doing, save and hire a professional.

Cut corners where you can, but in doing so, ensure you’re not cutting corners on the important things. While it’s almost first instinct to want to save when you can, there are simply times when spending a little extra will benefit you in the end.

 

What are some ways you can cut corners and save money? Have you ever regretted cutting corners?

 

Photo courtesy of: StockSnap

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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