Beating Broke

Personal Finance from the Broke Perspective

Frugality and Brand Names

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The words Frugal and Frugality have been some very popular words lately.  With the economy the way it is, it’s not very hard to see why. Even so, I still know people who claim to be frugal, but refuse to buy anything but the brand name products.

There is very little room for brand names in a frugal lifestyle.  The good news is that many of the non-brand name products are very similar products.  In some cases, they are the exact same product.  In other cases, they are not even close to the same thing.  In those cases, you have to weigh how much you want that exact product against your desire to save money and live frugally.  Is the extra $1 worth it?  Depending on the product, you might make an exception.

If you decide it is worth it, here are some things you can do to try and help cut that cost.

  • Coupons!  Check the manufacturer’s website.  Many have customer loyalty programs that you can sign up for and get occasional coupons.  Look through the Sunday paper.  Or, see if you can find a coupon train to join up with.  Swap Mamas has one, and I’m sure many other sites do as well.  There are also coupon trading sites that you can make use of.
  • Buy in bulk.  If you’ve just got to have it, buying in bulk can sometimes help cut the cost.  My favorites are Sam’s Club/Costco and Amazon.  If the item is perishable, maybe you can find a friend that will split it with you and you can still reap the frugal benefits.  Sometimes it’s worth the cost of a Costco membership.
  • Cash back rebates.  If you have a credit card that gives cash back, you can use it to help cut the cost of the item.  Just make sure you’re paying off that card every month, or the interest will eliminate any benefit.
  • Supermarket Loyalty programs.  Some supermarkets have a loyalty program.  Spend $XXX and get $X off!  It’s usually not anything spectacular, but every little bit helps.

Sometimes the brand name is worth it.  But, I encourage you to try the generic stuff too.  You just might be surprised to find that it is a very sufficient replacement.

Photo Credit: http://www.flickr.com/photos/thisisbossi/ / CC BY-SA 2.0

Coupon Angel

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I’d never heard the term before, but JD at A Penny Saved used it today.  Coupon Angel is a term that he uses (and maybe more people do as well?) to refer to people who leave an unused coupon for a product sitting on the shelf or near the product at the store.  If you, like JD, happen upon one you get a usable coupon for an item.  Kinda cool.

I’ve seen it happen but never had a term for it before.  Now I do.

Are You a “Frugaler”?

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Ok, I’ll admit it, I made that word up. Well, at least as it would be a name instead of an action/habit.  It occurred to me while watching an episode of Wife Swap on Friday evening.  You’ve seen it, or a show like it, I’m sure.  They take the wives from two families and then the wives swap families.  The producers make sure that you get maximum drama by making sure that the families and wives are polar opposites.

In the episode that I watched, the one family lived in Florida and basically partied all the time.  The other family, however, was a different story.  They were “Sweepers”.  No, they don’t use a broom or even a swiffer.  A “sweeper” (article on sweeping) is someone who devotes a large block of time on a regular basis to entering sweepstakes.  And this family was nutzo about it.  They claimed to spend 8-10 hours a day on sweep related tasks.  From sending letters off to entering them online, they had made it a full time job.  They even went about collecting pop tops and candy bar wrappers for chances to win those contests.  Crazy, right?

Sure, but maybe not as crazy as you think.  In the end, the “sweepers” agreed that they maybe, might, kinda have a bit of an addiction.  And the cut back a little on the “sweeping”.  Nearly happy endings for all involved.  The husband still gets antsy when the mail truck doesn’t stop with new sweeps to enter.

This all led me to think about things that can become just as much of an addiction.  Actions for making a quick buck or getting something for much less than normal.  That’s what “sweeping” is.  It’s the action of entering contests and sweeps in an effort to win things that you couldn’t normally buy.  Something for nothing, or little to nothing after you figure in stamps.  We won’t talk about the time spent.

You know what else that sounds like though?  Frugality.  Being “frugal” is the action of finding the best/easiest ways to save oneself some money.  To get something for much less than normal.  It’s the action of using coupons and sales and saving methods in an effort to pay less than retail for an item or service.  Something for nothing, or little to nothing is the goal.

Does that sound familiar to you?  Do you spend time on a regular basis surfing through the deal forums in search of a great deal on something you need?  Do you clip every coupon you get in case you need a Belgian Waffle Maker someday before the coupon expires?  Or, do you clip every coupon you get for the purpose of trading them with others for coupons you need?  Or, maybe you refinanced your $300 loan for that 0.25% rate drop to save the $1 in interest. (that’s not a scientific calculation, please don’t try and correct it. It’s for dramatic effect.)  You just might be (gasp!) a “Frugaler”.

Them “Sweepers” don’t sound as crazy now, do they?