This got me thinking recently as a person was telling me how they were using a lot of budget service providers where the service isn’t as good as the big companies but you definitely save a lot of money each month. One thing that was a little unusual about this was that the person is pretty much set financially where one would expect them to live a lavish lifestyle. But at the same time it’s good financial habits that help people to get to that position in the first place where one could tend to carry on as usual despite how much money they now have.
But then I found out where when it came to certain expenses for items such as video games the person would spend so much money each month for things where you essentially can pay money to make the game easier per se such as unlocking bonuses that one would normally have to spend a lot of time on. Now of course if you worked hard in life and can afford your lifestyle then there isn’t anything wrong in using the money the way you like.
It’s just kind of interesting to think about where one goes to extreme efforts to save maybe $50 a month on say an essential utility of sort but when it comes to a nonessential item the amount spent definitely outweighs the savings of being frugal with things such as using a cheaper Internet service provider. Is that something you usually think about where when it comes to saving money and being frugal you tend to look at your total spending and balance for the month versus just focusing on like here essential services?
In some ways it’s funny to think about as I mentioned with another topic where many people try very hard to find the best deals for say a TV or computer but when it comes to essentials like the groceries they just pay whatever price they see where in that case the mindset is they have to eat so you can’t really spend too much time shopping for the best deals. My personal habit for spending usually consists of I first buy all my essentials while attempting to save as much money as possible. If I saved a lot then I actually still think of essentials and whether or not there are deals that would make sense to buy now so that next week I wouldn’t have to.
With any spare money I usually try and think if there is anything I can invest in that would give long lasting value which can be say a computer that helps with my lifestyle and work productivity. With entertainment items I actually try and see what is free first versus simply spending the money I saved from being frugal in other areas. That might be extreme for many, but at the same time it has also shown me how much you can do with very little money if you are really tight.