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“We lament the grocery-store coupon left at home, and yet we’ll raise our bid for a house by $10,000 without a second thought.”
This was one of Jonathan’s quips that appeared at the top of the blog a few months back. I immediately was reminded of a day spent with my pal Kenny and his wife in Las Vegas, sometime in the early 1990s. Ken and I were seated at a $5 blackjack table when his wife approached, asking Ken for some more money. She had blown through the hundred bucks she brought with her, and needed a $50 cash infusion.
Later, driving home, Ken’s car needed an infusion of gasoline. Ken pulled into a gas station to fill-er-up, and his wife went absolutely bat-do-do crazy because the store across the street had fuel for $.05 less.
I am not immune to such behavior. I will squeeze the last molecule of toothpaste from the tube, while never passing up an opportunity for lunch or dinner with friends.
How about you? Any irrational or contradictory spending decisions in your life?
Every time I open a container of a staple – toothpaste, shave cream, after shave, Advil, laundry detergent, Keurig coffee pod boxes, garbage bags, napkins, dishwasher tablets, etc, I write the date on the side in Magic Marker. I like to have a feel for how long they last. And I find I can stretch many of them without too much effort. For example, I was surprised at first at how quickly I used toothpaste, and by just taking a little less each day could stretch out a tube. But I also found shaving cream lasts quite a long time. I also found that Costco-sized packages really save money. Yet, I spend tons of money at Home Depot on small things I think I need, or want to tinker with. Go figure.
Martin, I resemble your remark! As a regular Costco shopper and a patron of hardware stores, I am in total agreement.
Because my coffee I order online was getting so expensive I decided to date the bags on 1/6 when I opened the first 16oz bag. Just put the last 1/2 of the last bag in the coffee grinder and ordered my next batch. One bag lasts a little more than a month (I only drink one cup/day) and just cost $25/bag. Still a lot cheaper than a coffee shop which I rarely enter.
You are a perfect candidate for home roasting coffee. I’ve been doing it for over 30 years. Fresh single origin coffee from anywhere in the world every day currently at about $8/lb. It’s a simple process. If you can make popcorn, it’s easy.
Google Sweet Marias for beans and roasting info.(you don’t need an expensive roaster)
Thanks for the link! I have never tried roasting my own, but it might be fun to try one of the inexpensive options.
West Bend Poppery II off Ebay, and a bag of beans is all you need. I use a wooden spoon to agitate the beans to help move the chaff off. Roast outside. It gets smokey.
That’s pretty impressive. An 80-cup Lavazza Keurig-cup box at Costco was priced at about 46 cents a cup today (I bought a box), while most supermarkets sell those cups in boxes that pencil out to more than $1.25 a cup. Coffee prices are spiking.
This is single origin 16 oz bags. I fell the same way as I feel when I used to drink alcohol I used to drink expensive rye whiskey and justified it because I only drank one drink per week. I justify the coffee cost as I only drink one cup per day. When I first started drinking it about 3-4 years ago it was about $16/bag. Damn inflation!
I used to get a year subscription to the local print newspaper by waiting until I would see one of these collage student sales people in the supermarket who I could talk down to a good price along with a bunch of gift cards. They disappeared after the pandemic, so I started buying only the Sunday paper to save money.
I just figured out last week that the undiscounted full price of only the Sunday newspaper times fifty two weeks is the same or more than a full weekly subscription used to be.
Yes. From time to time, I’ve received bonuses at work. Let’s say $1,000. I’ll get that and yawn. Yet, if I miss out on a deal and spend $4.00 more at Kroger than I should have, I’ll grumble all the way home and thereafter.
I was taught not to waste. I was taught to save for a rainy day. This has worked well for me. Thankfully, my savings are enough, and yes, I squeeze the toothpaste. I can’t equate buying a home to toothpaste. That $10,000 more may get you piece of mind that will last 20 or 40 years, worth every penny. I owe everything to my wonderful, loving parents.
While I remain frugal, (I buy the $0.85 toothpaste on the bottom shelf at Walmart,) but I am on the SKI trip – Spending the Kids Inheritance. Now is what I saved for and I consider my health and wealth mine to use as I want.
SKI trip; I like it!
Up the street from us is a no name gas station that sells gas for $0.25 to $0.30 a gallon less. No matter when I go by there is a line that goes out into the street sometimes requiring the police to come because it is blocking traffic on the main road.
What gets me is that a big percentage of the cars in line are BMWs Cadillacs, Mercedes and other luxury cars. Is that being frugal or simply they need to save?
Personally I would not put that unknown gas in my car.
Not too long ago, an independent station in Toledo was busted for adding water to the gas. Several people’s cars suffered fatalities.
I love a good bargain. As full-time travelers, I have a good handle on how to fly and reserve hotels using credit card points and I get comped cruises via ships’ casinos (my gambling budget is what I would have spent on the fare). I will negotiate for month-long temporary rentals. Here in Tokyo, we wait until the evening to shop when the ready-to-eat foods, bakery items, sushi and Wagyu steak are all marked down 30%. BUT, when it comes to concert and theater tickets, I will spend what it takes to watch actors act and conductors conduct. Cheap seats in a plane? Sure. But cheap seats in a theater? Never.
Live your life. Live your life.
Some would say that my attitude towards points is throwing away opportunity or money. I have no patience for tracking points and always take them as cash. I sometimes use airline points to buy tickets, but not always.
And for theater, I buy the aisle seats with an unobstructed view for my wife. So no discounts there.
This behavior also speaks to waste. Why waste the last bit of toothpaste in the tube? It is not always about the cost of something it is often using it up. When the dish soap bottle is empty, I fill it half way with water, shake and use the last of the soap. It takes very little time and I believe I’ve used it up. I’m not wasting. Going to a concert, lunch with friends-that’s not a waste of money that’s an investment in friendship.
MD, this morning I stood motionless for about 30 seconds while the final drops of creamer fell from the bottle. Some habits die hard, still, I have to admit that the mindset behind them probably helps us afford investments in important things like friendship.
I wish I could post a picture of the toothpaste tube that I have been extracting product from for the last three days.
I used to take a scissors and cut open the toothpaste tube, unfold it, and use my toothbrush to scrape out the last of the paste. Now, I no longer need to save the last penny.
I’ve finally stopped squeezing every last molecule out of the tube of toothpaste but I will always drive across the Delaware River from my PA home to get cheaper, full service gas in NJ. I’ve done the math and it’s always worth the short drive. Sometimes I momentarily forget to get out of my car to pump when I’m away from home. 😂
Linda, I time my fill-ups to coincide with Costco trips. I knew some states still had some full service stations, but I don’t know of any here in Ohio.
Wow, I didn’t even know full-serve gas stations were still a thing!
I think they still exist in Oregon–at least they did when I left in 2022.
Oregon has allowed self service gas since 2023, leaving on NJ left with no self-service, why I have no idea.
I believe it is a state law.
You are correct, David. Self-service doesn’t exist in NJ. I believe it was meant to save jobs. How they can do that and still sell cheaper gas than in NY and PA, someone else will have to explain.
Most likely it’s the level of the state gas taxes. That has a great deal to do with gas prices from one state to another. In certain regions bulk gas is the same per gallon. As an example most of the gas in that region is probably refined in the Delaware river port areas. The stations then have to add their mark up and in addition their state gas tax per gallon.
OOPS, missed Howard’s post below.
NJ gas tax is 49.1 cents per gallon. PA is 58.7.
How about the guy (me) who asks for a senior cup of coffee at the McDonald’s drive-thru after purchasing the latest carbon frame Cannondale road bike for sticker price.
I don’t know much about road bikes, but if he could have gotten a better deal, or if there is a comparable bike for much less money, then yeah, that would be a classic case of Penny Wise.
Thinking of my fondness for audio equipment, I may be guilty of a similar sin.
Dan,
What kind of audio equipment? That’s my spendy hobby as well but I have slowed down since I retired last year. All but one of the pieces in my system was purchased 2nd hand (Aqua/Boulder/Constellation/Magico).
John, my gear is not on the same playing field as yours. Still, even my Luxman/Klipsch habit is significantly more expensive than most people are willing to spend.
I always liked Luxman gear. Almost bought their hybrid integrated amplifier at one point years ago. They still make some very cool gear. Happy listening!
I had an old motorcycle (’72 BMW) that was in storage in an unheated but well sealed garage for 18 years, at a cost of $110/month. Last fall, I decided it was time to deal with it. So I spent $1800 to have my mechanic haul it to his shop and get it running again. Then, I sold the bike for $1000. I pretty much knew this would happen, but did it anyway, as penance for neglecting a classic machine for so long. The good news is, I found it a good home with an owner who’s really interested in BMWs of that era and plans to restore it to stock trim. And has promised to send pictures when it’s done!
I remember those BMWs. Nice bikes!
Dan, I am reading your post on a day where we are trying to decide how much we might have to pay for tickets to the ‘28 Summer Olympics since our lottery is coming tomorrow. A once in a lifetime experience is worth…. ? Chris
David, Dan, thank you for your kind comments. We are going! We booked a day at track and field and a women’s basketball game so far. Some of the preliminary soccer games are going to be played in our town. We got 8 tickets to take our whole family to a game. We are trying to decide what else to see. And do we want to pay big bucks for gymnastics? Much is already sold out. Chris
Yay! And I’ve found that the anticipation of a far-off special occasion is almost as wonderful as the event itself! Plus you can’t put a price on the anticipation 😊
Chris, sounds like an excellent use of money to me. Family time together, the creation of memories and the anticipation of the wait…the perfect trinity of money well spent!
You and I think alike, Mark. I posted my comment before reading yours. 😊
Chris a comment you posted on 4/9, “Your post spoke to me in that Spouse and I really need some time away from all that has been going on with our families.”
Go all in. Even though the Olympics are two years away you deserve it.
PS In 1976 after I graduated from high school some buddies and I drove to Montreal for the ‘76 Olympics. The aura around the site was majic for someone who lived for playing sports as a youth. If I see some of the guys at our 50th reunion later this summer we will reminisce.
We saw one event and I even got to meet Sugar Ray Leonard at the fencing surrounding the Olympic Village (it was the first summer Olympics after Munich).
We brought sleeping bags and slept in an abandoned parking lot off the island. That was adventure as well, but I won’t detail it here.
What wonderful memories! Sugar Ray Leonard …Wow!
Chris, I’d think of it like a vacation, and be willing to spend a similar amount. It will truly be a great experience.
Love this! And it’s so true. My motto since we retired eight years ago: SAVE on what we NEED, SPEND on what we WANT. Seems to work.
I passed your words on to my luncheon companion today. Thanks, Ted, for a short, easy-to-remember motto
What a perfect motto!
A different type of irrational. I totally endorse the green practice of hotels using wall mounted dispensers in the showers rather than those little soaps and hair products. When we go on vacation if they have a bar of hand soap that is utilized at every hotel on the trip and the rest are hoarded. I just opened a purchased bar for the first time yesterday since a trip last fall.
I get anxious about using too much sticky tape, Blu-tack, glue or myriad other low cost consumable things. But I spend with seemingly no limit on food, drink and good times! I nee to keep reminding myself to use as much sticky tape as I want to.
Why do we agonize over such things as glue and tape?
My acid reflux usually prevents me from over-consuming at restaurants. We try to skip appetizers and desserts. Nothing like spending foolishly on an expensive dinner, only to lay awake most of the night with a burning esophagus.
Famotidine. An over the counter or Amazon tiny tab. Very inexpensive. Worked for me for years. My doc approves.
Pleasant dreams.
I’ve walked through a casino, but never spent a nickel in one. I was once in a casino in Monaco and was told I needed to pay 10 Euro to go past a particular doorway, so I left. Like Edmund, I squeeze the last line of toothpaste from the tube, pound that container of sunscreen for the last few squirts, and do my own repairs (when I can). But I bought a new car with cash last summer because I wanted the new safety features and better economy at the gas pump. Sometimes, after filling my tank, I’ll pass a gas station selling cheaper gas and berate myself for missing out on a savings of 60 cents. We’re all wired differently, and I’m often surprised when people describe a decision process that is absolutely at odds with how I do things. It keeps life interesting!
I used to put a little water in whatever I was trying to get the last drop of, but I recently quit doing that (most of the time).
Yesterday I picked up some slightly bruised peppers from the reduced section at the greengrocers — 10 cents each. After oven roasting them for dinner last night, I finished them with a drizzle from a single-origin Italian olive oil — $100 a bottle.
HA! Love it.
Dan, I suffer from the inverse of this behavior. So, I too, get the last bit of toothpaste and dab of shaving cream, along with a host of other behaviors learned from family and from my own days scraping together every penny to pay debt and invest. Though I’m not particularly “green” by intention, in practice I’m positively verdant. But in reality, I have the mean sto have a bit more. My wife is worse, but I remind her that she can afford to ease up on the purse strings.
Possibly irrational:
Buying a house because you have four dogs and there’s no way anyone will rent to you.
Buying a custom-made van to transport your four dogs.
Having a home that you describe to other people as, “a dog kennel that the dogs are kind enough to let us reside in.”.
I wouldn’t change any of it.
No no no, Kristine. Your examples belong in a post about using your money wisely for life’s good experiences.
I do have a dog related story that might qualify, but I was reluctant to judge, because these folks truly loved these hounds. Let me know your thoughts.
It was a married couple, about 60, whose business went under, and were on the verge of bankruptcy. They didn’t have enough money to pay me for their tax return, (I still did it). They also shared pictures of their two Newfoundland Hounds. The care and feeding of a pair of 140 pound dogs was a huge drag on their limited resources. They could never part with their dogs. I don’t know if I could have done anything different in their situation.
It’s funny your story involves Newfoundlands–I thought that would be what my first dog was. To put a little financial slant on that: I ended up getting a Corgi instead of a Newfoundland because our first house was only 800 square feet and I figured the Newfy would take up too much personal real estate inside our home.
I’m sure ‘non-dog’ people struggle to understand the (what they perceive as irrational) connection people can have with their dogs. And that level of ‘connection’ varies widely even among dog-people.
Some people care about their dogs, while other people CARE about their dogs. No surprise that I fall on the far end of the CARE spectrum.
The children/no-children discussion going on right now on HD seems to evoke a similar emotional response. People who have children seem to have difficulty understanding why everyone else wouldn’t want children.
People who feel a deep connection to dogs often can’t understand why other people don’t feel the same.
So I certainly understand why someone who is struggling financially can’t bear to think of parting with their pets. It would feel like letting go of a part of your soul.
We are cat people. 😉 Chris
Apparently we are kid, dog and cat people. But not people with spare time!
I’ve always been partial to dogs, but Chris has always had a cat. At the end of the day, I love em all.
My wife and I are not pet people, but now I get it. My daughter leaned heavily on her cat when she was going thru a very emotional divorce, and my son and his wife have a dog that is the equivalent to them of a child, something they don’t have.
The depression of a divorce might have done me in without what was left of my family, Whisper, the Australian Shepard.
Tri- colored, one blue, the other silver, eyes.
I have little doubt that dogs are man’s best friends.
The same for me. My Malinois-Huskey mix was my family while I recovered from my divorce. Freya was there for me when I needed her. The best dog I ever had.
Yep–add me to the list of divorcees who relied on dogs to help ease the transition. I had two Corgis (Riley and Zoey). My ex wasn’t a dog person so there was no question about who would get the dogs. Even if there had been, I would have given up everything else to keep my pups.