Take My Money, Please – Saving Methods I Happily Avoid

Money Saving Methods I Avoid

I recently described a few simple ways I’m routinely saving.  But I skip certain commonly-embraced money saving methods.  Indeed, it’s not just a matter of saving a few bucks in a given situation; other factors come into play.  Choosing to financially save impacts other areas.  Sometimes, those other matters outweigh any dollars-and-cents positive.  That’s what I’m focusing on today.  Here are just a few money saving methods I pass on

Buying a Used Car

Since childhood, I’ve been conditioned to think buying a used car is one of the leading ways to save money.  During my early years, my parents bought just as many used cars as they did new ones.  I’m confident they financially saved on these used vehicles.  Not coincidentally, I came to think of occasional, unexpected car trouble as more of a norm than an aberration.

I decided to go the other way once I reached young adulthood.  Since then, I’ve opted to buy new cars and conduct on-time periodic maintenance.  Our cars have lasted more years than anything I was used to previously.  Of course, minor, unplanned repairs are sometimes necessary, albeit infrequently.

In the meantime, I’ve noticed that used car deals, at least in terms of the amount of savings, aren’t the slam dunk they previously were.  In the researching process before buying our last car eight years ago, I noticed the make and model which fit us best was a scarce one on the resale market.  Any savings from buying a used version was minimal, at best.

I have no problem paying for the increased predictability and peace of mind of a new car over a used one.

Packing a Lunch…

…for a theme park can clearly save visitors money.  It’s also definitely not the way my family and I want to live.  We enjoy suspending reality when we visit these parks, whether Disney World in years’ past or Busch Gardens Williamsburg right now.  Enjoying the parks’ dining venues is part of the experience.  Indeed, we’re visitors who believe that this augments the experience.  (I know this is music to theme park operators’ ears.)

I can’t think of any lamer theme park experience than coming off a thrilling roller coaster to then consume an aging sandwich, staling chips, and never-cold-enough drink, often while sitting on the ground while other visitors are walking way too close.  Even worse, how about wasting precious time leaving the theme park to get blasted in the sun while eating the same fare around a baking car providing zero shade?

Dining at theme parks is part of the deal for us, and we know that can cost us.  But we can take advantage of discounted gift card plays and park promos to minimize costs.

Hacking Meal Kits

Let’s stay with food.  My family and I tried Home Chef during the height of the pandemic.  We saved a good amount during that experiment, but I don’t have plans to return.  Based on the food quality we experienced, I don’t have the patience to sift through these programs’ tricky terms and conditions and ordering procedures to save money.  I know meal kits have evolved since we tried them, including many more company options.

But along the way, we’d be wasting more time than money.  My wife and I would just rather go to the grocery store, then cook.  Getting on a computer to order food to then prepare at home (I know prep may be a bit easier) isn’t our preferred alternative.

I know many do big things with meal kit hacking, but it’s just not our bag.

Hotel Hopping

As a bachelor, I had no problem moving hotels night-to-night to pick up better deals or benefits.  After getting married, my wife and I enjoyed many years of doing the same.  But with kids, this money saving method has virtually disappeared.  The logistical inconvenience is more than we care to take on.

In my opinion, one of the key losses here is, again, time.  Hopping hotels can eat precious opportunities on a vacation.  It’s easy to rationalize waking up a bit earlier to check out or cutting an experience short to check in elsewhere.  But we can’t ignore how the quality of the vacation can take a hit.

Being Right

I think it’s healthy to periodically ask myself, “would I rather be happy or right?”  In terms of finances, it’s easy to jump to the money saving method as the right move.  Minor detail – the family and friends you’re with might have zero interest in that.  Would you rather persuade others to adopt the cheaper choice, potentially alienating them in the process?  Or should you consider someone else’s solution as an opportunity for growth while pleasing them along the way?

I know it’s not always that simple.  Sometimes, everyone is playing nice, and someone needs to make a decision.  Conversely, going along with others’ decisions means you might not visit that restaurant you’ve been craving.  But whether you knew it or not, you signed up for that generosity of spirit – or the expectation of it, at least – when you decided to be with others.  And don’t ever consider always being alone a viable alternative.

Conclusion

In our points and travel hobby, we often read and hear people talk about “maximizing.”  I’m guilty of using that “m” word occasionally.  We take things to the extreme to do big things.  When it comes to saving money, I think we sometimes take it too far.  We end up negatively affecting our lives in ways we don’t necessarily realize.  I encourage you to take a step back, analyze your relationship with money, and reassess which savings are worth the less-than-obvious expenses you are paying for them.

What money saving methods do you forego and why?

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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