8 Ways Being a Cheapskate Can End Up Costing You More

Have you ever made a decision to save some money that ended up backfiring later on? It’s not at all uncommon to do something to save money now, only to have those savings cost you further down the road. 

Here are a few ways that people commonly try to save that can actually cost a lot more in the end. 

Avoiding The Doctor or Dentist

Avoiding those regular check-ups and cleanings can leave you facing a hefty bill later on when you may need a bunch of costly fillings or even a root canal.  

Doing Your Own Taxes

No doubt that services like TurboTax and H&R Block do save a bunch of money on accountants' fees. But if you have anything complex, it’s well worth your time and money to hire a tax professional to file your return. 

Building up an Emergency Fund Instead of Contributing to a Retirement Plan

If you’re squirreling away money now into an emergency fund or savings account but you’re not putting money into a 401(k), IRA, or other long-term retirement savings plan, you’re not prepared for something you know is coming—old age. 

Buying The Cheapest Items To Save Money

Cheaply made, poor-quality items may save you a few bucks in the short term but only lead to paying more eventually to replace them. 

Getting Suckered Into BOGO Deals and Other Enticing Sales

BOGO (buy one, get one free), when it’s genuine, is hard to resist. But even then, whether it’s BOGO free or BOGO half price, you have to stop and ask yourself “Would I really have bought this much of this item at this price anyway?” 

Avoiding Routine Car Maintenance

When it comes to cars, the old proverb “a stitch in time saves nine” couldn’t be truer. 

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