Sharing Daily Discoveries About Personal Finance And Business Topics

Comparing It To The Truly Cheapest Options

I was trying to help a person figure out how he could save more money today and for the most part he did take initiative to try and change habits such as where he shopped. Here was an interesting point though. He mentioned before he used to dine out at this restaurant that cost him about $10/meal. Because he needed to save money he then started to eat at fast food places which almost dropped his expenses in half.

While to him that was a very good amount of savings, I’m pretty sure everyone reading this that is semi frugal would be screaming things such as “Why don’t you make your own meals” right? I didn’t throw this point up immediately as I was curious on his way of thinking. What he told me was that compared to the other restaurants he researched this was the cheapest and most reasonable for the money. Basically, he was stuck in getting out of the notion that you need to dine out in general for food.

The more I think about this the more common it is in other areas too. For example, for something as simple as commuting to work a lot of people would be stuck on the notion that you must have a vehicle even if the place was say ten blocks away. So with their budget they only consider options that involve a vehicle such as buying your own car, leasing a vehicle, taking a bus, etc. In like those cases though I think it is better to start with the cheapest option and work your away up depending on budget. Example, evaluate how walking would be. If you have the budget then maybe riding a bicycle would be better.

This could be the same thing with like the food example. See if it is feasible/cheaper to grow and prepare the food yourself. You could argue there it may be cheaper but it would take way too much time right? Then we can move to buying fresh produce/groceries from the store to prepare. It can go on. Overall though, getting out of a specific way of doing things and educating yourself about the cheapest options that are available to you too can be a great way to truly figure out what is the best way to save money.




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