Are Your Cheap Ways Actually Costing You Money?

We’ve all done it – gone out of our way to save money only to waste money that didn’t need to be spent. This sometimes results in us spending even more money than what we saved, which can be a total let down.

Here are some things that you might want to think twice about:

Doing your taxes on your own.

Many people are guilty of this. You decide to do your own taxes (whether by hand, online, or through a software), so that you can save money. Many people don’t even see how many an accountant costs because they just automatically assume that they will be expensive and not worth it.

However, that is just not good! Accountants are usually good at what they do, and they may be able to catch things that you didn’t notice. This could mean that you might not be getting as much money back as you should.

Skipping needed doctor visits.

Have you ever been so sick but you decided not to go to the doctor because of the cost? I’m sure many people in the United States and around the world feel this way because of bad healthcare options. However, something small may change to something huge because you skipped over it trying to save a few bucks.

For example, I know someone who didn’t go to the dentist for over 5 years, and when they finally went they needed over $10,000 worth of dental work done. It was just insane, and the person had to get a medical loan to cover the dentist expense. There was only so long that they could skip the dental work but finally the pain that this person was experiencing was just too unbearable for them.

Choosing price over quality.

As a personal finance blogger, I am constantly comparing prices on things and trying to get the best deal. However, there have been several times where I have bought something cheaper, hoping that it would work out and be a good substitute, only to throw it away and buy the more expensive item. This has applied to clothing, food (that happens a lot!), and more.

You always need to check the quality on things and make sure that you are actually getting a good deal along with good quality.

Have you ever tried to save money only to spend more than you thought? What happened?

 

Photo via Flickr by Christopher Sessums