Redditors Experiences: Money-Saving Hacks That Backfired
You may be looking for ways to stretch every dollar and as a result have come across tips and tricks for saving cash. Unfortunately, not all of these tricks are as helpful as advertised.
Sometimes putting too much emphasis on saving can result in actually losing money! Redditors concerned about their financial situation have contributed to a discussion thread with more than 500 comments. Let’s look at some money-saving “hacks” that didn’t end up working.
1. Living In a Recreational Vehicle
Anyone that claims living in a recreational vehicle is cheaper than renting an apartment is wrong. One Reddit user claims that his RV cost him significantly more than renting due to maintenance costs and more.
2. Buying a Vintage Freezer
When it comes to electric appliances, it doesn’t pay to purchase inefficient used options. Learn from the experience of a Reddit user who bought a used fridge.
“Over the next few months, our power bill at the new property was excessive, but I always assumed it was the home.” However, since the freezer stopped working, they saw a $125 reduction in their monthly electrical cost. It turned out to be the freezer the whole time.
3. Skipping Preventive Care
According to one Reddit user, access to free dental and healthcare would have averted a tremendous amount of unnecessary misery and expense. Saving money by skipping dental checkups and regular preventative healthcare visits can end up costing you when something major — but avoidable — goes wrong.
4. Starting a Garden to Cultivate Your Own Food
The attempt of one frugal Reddit member to cultivate their own food proved unsuccessful. Even after spending $150 on gardening gear and seeds, the Reddit user could not cultivate a harvest. Some users with green thumbs recommended beginning gardening with seedlings instead of seeds. They characterized the procedure as “very simplified.”
5. Hiring Friends or Family for Handy Work
Reddit users advocate that you only use licensed professionals while employing services. They believe that bad workmanship will only need more maintenance down the road. This implies that you will ultimately pay more on repairs for the damage caused by your so-called “handyman” than on the original repairs. You should always consult with experts when it comes to maintenance and repair tasks.
Hot Tip: Be sure to be careful when mixing money and friends – it can get hairy real fast!
6. Choosing Salary Over Shorter Commute
One Reddit user is now regretting accepting a higher-paying job because it took significantly longer to commute to work than anticipated. They ultimately decided that the wage increase was not worth it, so they resigned from their new position.
7. Shopping Based Only On Pricing
Even though well-known brand names are only sometimes indicative of a high-quality product, it’s in your best interest to avoid simply purchasing the lowest-priced items.
A one-time investment in an item of higher quality is more cost-effective over the course of time than more regular purchases of replacements for products of lesser quality.
If you are looking to put money aside for your future or are saving up for an event or item – then take a hint from the opinions of these Reddit users. Stay away from quick hacks to save money because, in the end, these money-saving techniques may backfire.