Cash The Checks Personal Finance Blog

Saving Money Isn’t Always A Good Idea

We all want to save a few bucks here and there. In fact, the web is full of money saving advice blogs advocating all sorts of methods of keeping more money in your wallet. While saving money in general is a very good thing, there are exceptions. Here is a short list of things you shouldn’t save money on.

Ignoring Your Health

Health care costs can quickly eat up your budget. But that doesn’t mean you shouldn’t spend on it. Your health is your life. Nothing, not even saving money, is more important than your well being.

Buying Knock-Offs

When you buy a knockoff product you’re contributing money to criminals. Copyright infringement is a serious crime. The reason being that companies spend millions of dollars to create and then brand their product. Knockoffs do not. Companies pay taxes and create jobs. Knockoffs do not.

Unethical Circumstances

It’s not ethical to benefit from any of the following: If a store makes a mistake in pricing and you take advantage of it.

  • If you buy 10 of a certain product and the clerk only rings up 8 of them.
  • If you see someone drop money on the floor and you keep it.
  • Not paying back loans from friends and family members.
  • Claiming bogus deductions on your federal tax return.
  • Using a relatives’ credit to buy a car instead of your own.

Charity

I’m a firm believer in giving and getting back. You can call it karma. Hoarding any money you have and clutching it tight will not make you feel more secure, but rather, it will breed insecurity and anxiety.

Buying Cheap Products

I always say “buy it nice or you’ll buy it twice”. Bargain hunting is always a good idea, but put quality into consideration. Do you really want to buy an Acer laptop vs an HP laptop? An Olevia TV instead of a Samsung TV? Nike sneakers vs Payless ones? Sometimes it pays to buy quality in the long run.

Leave A Comment