Being cheap versus smart with money

May 15

Being cheap is to buy single-ply toilet paper just because it’s cheaper than double ply.

Being smart with money, on the other hand, is to buy double ply toilet paper on sale — even though it’s more expensive than single ply.

I’m not saying that all cheap people buy single ply — I’m sure plenty of them buy double ply.

What I am saying is that being cheap is a knee-jerk reaction. “That’s too expensive” is an automatic response that’s usually baked in from an early age.

On the other hand, being smart with your money is a skill that’s developed.

Not a knee-jerk reaction.

It’s knowing how much you can spend, and being smart enough to say “no” when you can’t afford it and “yes” when you can.

(And saying “yes” is as crucial as saying “no.”)

People who are smart with money don’t buy cheap junkie dollar store cutlery that’ll shread your rib eye steak to pieces and make it taste like tin.

Instead, they save up and find a good deal on a Wusthof set that’ll perfectly cut their steak into mouth-watering pieces.

So the goal when you’re budgeting isn’t to become a knee jerking cheapo — that’s not going to work (unless you were born like that.)

Instead, become smart with money. Know what you can afford and become confident enough to say “yes, I can buy that.”

About The Author

Hi, I'm Avraham (pronounced Av-Rum.) I'm a reformed spender, financial coach, and the founder of Avraham Byers Financial (I'm better with money than coming up with company names.) In a funny and non-preachy way, I teach people how to take control of their finances without giving up their smoked butterscotch lattes.

3 Comments

  1. Rochelle
    May 17, 2018 at 4:31 pm · Reply

    Good advice!

    Also – I once bought single-ply toilet paper.

    Shortly after I considered making bumper stickers that said, “Life is too short for single-ply.”

    • Avraham Byers
      May 17, 2018 at 8:12 pm · Reply

      Lol Rochelle,

      Love the bumper sticker idea.

      I also bought single ply once — and that experience is what inspired this post.

  2. Avraham Byers
    May 17, 2018 at 8:12 pm · Reply

    Lol Rochelle,

    Love the bumper sticker idea.

    I also bought single ply once — and that experience is what inspired this post.

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