Let’s talk about being frugal. It’s a lifestyle that many people enjoy, but those who don’t understand frugality often don’t understand how it works. First, we have to note the difference between being frugal and being cheap. Being frugal means that you understand the value of your possessions and you always buy something that is worth the money. Being cheap simply means that you go for the lowest cost option whenever possible.
For instance, let’s say you wanted to buy a set of garden furniture. If you were frugal, you’d look for deals and buy something moderately priced that will serve you a long time. If you were cheap, you’d buy something that costs less and falls apart within one season.
So how does this help us save money on our homes? Here are a couple of situations where spending more on your home improvements and appliances can actually save you more in the long run.
Electricity Bills Electricity is one of the most costly utilities we pay for. However, there are ways to spend more money in order to make it cheaper in the future. One of the most obvious ways is to install solar panels. By using sunlight to generate electricity, we effectively save a lot of money each year. However, with the initial cost in mind, you might be wondering “are solar panels worth it”. The first thing to keep in mind is that solar panels start saving you money the moment they are installed and setup. Secondly, you have to realise that solar panels take a couple of years until they pay for themselves, meaning it’s best to install solar panels only if you own your home and plan to live in it for many years to come.