Save Your Pennies. Don’t Pinch Them.

May 16th, 2006 | by Molly's Brother |

This is not a blog about being overly frugal. You won’t catch me posting ways to make your own household cleaners. I won’t talk about the great deals I got at this last weekend’s flea market over near the drive-in that’s next door to the interstate. And I’m not going to wax enthusiastically about what I do with the water that I run in my shower as I wait for the hot water to kick in. (I waste it by the way. I let it all run down the drain.)

I never understood uber-frugality. I don’t understand the satisfaction in saving money on lunch–by heading down to the grocery store and swiping as many samples as you can eat while pretending to shop. There’s something intrinsically odd about this woman’s tip to save money on–sigh–pantyhose: “If you get a run in one leg of your pantyhose, don’t throw them out. Instead, cut the ‘runner’ leg off around mid thigh. Then the next time you get a runner in another pair of the same color, cut off the runner leg from the second pair and put the two halves together.”

I found this tip on another personal finance site. I’m not going to tell you which site, nor will I tell you who submitted this helpful hint. Honestly, I am sure I don’t understand the annoyance that is the pantyhose. But isn’t doubling up on pantyhoses around your waist more annoying?
My message, my friends, is this: SAVE your pennies. Don’t PINCH them. By becoming overzealous in your attempt to manufacture your own disinfectant, you might be wasting valuable time and energy that you can spend with your family or thinking about ways to make more money. Finding deals? I’m all for it. Doing things cheaply? Absolutely. Bordering on the ridiculous to save a dollar ninety-five? No.Instead of devolving into living excessively frugal, devote your attention to the financial realities that are chaining you to your present situation. Your higher-than-necessary APR on your credit card should be of concern, as should trying to figure out a way to lower it. Tracking your spending and serenely balancing your wants and your needs is crucial. Putting money away before you pay your bills should become habit.

You should become fanatic about trimming your expenses and reducing your debt (hopefully, eliminating it entirely). You should become an expert in interest rates, APRs, your FICO score and your net worth. You should substitute “beyond your means” choices with affordable ones. You need to be proactive and vigilant, but you don’t need to get crazy and you don’t need to go overboard.

Get your financial house in order. Live your life. Enjoy it to its fullest degree. Don’t make yourself–and those around you–miserable in the process.

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