This ” 5 Things Thrifty People Will Do ” post describes actions that thrifty people are known for. We can all learn something from these people.

Thrifty is more than just a word to me. It is a way of life ingrained when I was a young boy out of the need and by choice.

Over the years, I have come to live a thrifty life and have no regrets about that. Certainly, I have not missed out a lot in life simply because most of the things I value the most are intangible. Of course, money, clothes, roof over our head, and car are necessities but they mean little to me compared to having a family, healthy body and lifestyle, and friends.

Having said that, I also feel that I am missing out some things in life. Our society now is different from the society of past decades. Now, it has become a society of technology and consumerism. There are a ton of products and services that have come and go. I would say that 99% of these products and services are the ones that I have never been able to take advantage of. Well, that’s because I don’t find value in them.

I am certain that I’m not the only one who is really thrifty. I know I am not alone in that boat. Sometimes, being thrifty equates to being cheap or unreasonable. But being thrifty is more than just that. Of course, I am not the epitome of a perfect thrifty person. That I can admit.

Actions Thrifty People Will Do

I have to say that even in this day of advancement and easy access to just about anything, there are things that a thrifty person like me would never buy. Here are some of the actions that they will or will not do.

They buy what they need on sale

What thrifty people will do is almost always buy products they need when they are on sale and, many times, in bulk quantities. They avoid buying products on sale just because they are discounted. They buy because they need them and don’t want to pay full-tag price.

When I need to buy specific products, I almost always wait for the holiday seasons to come. Chances are they will be on sale and, if I am lucky, I get to use some coupons to even reduce the prices. The only time that I don’t buy on sale is when I need the products right away (e.g. medicine).

I know that we have our own definitions of needs. My definition may be the same or totally different from that of the next person sitting to me. That’s perfectly fine.

I have seen a lot of people who claim they are only buying the products during holiday seasons or when they are on sale. They would spend a lot of money on consumer products and claim that they only buy what they need. At first, it makes sense. But if you look closely into what they buy, you will second guess if the products can really be considered as needs.

I have seen a couple of people who bought 4K TV for hundreds of dollars and they claimed they needed it. Like I said, definitions of needs vary, but I highly doubt that buying a TV that expensive is really a need.

They budget all the time

Having a budget is not only for those who want to save money. It is for everyone regardless of how much or little you have.

In all things you do that are finance-related in nature, you always need to start a working budget. Without a budget, you won’t know where you are overspending or underspending and everything in between.

In order household, we use the Budget Binder Printables to help us effectively budget and manage our money.

These printables has continuously helped our family get our budget in control and save a ton of money even on a single income. We paid off our $40K debt and, at the same time, saved at least $70K in 2.5 years with the help of these printables (click here for the full story). It’s currently on sale for just $14.99. That’s 50% off the regular price of $29.99. Plus, you get both the family budget calculator and loans calculator for FREE.

They have needs and, then, find products not the reverse

This may sound just like the first one but not necessarily. Some people buy products and try to find the need for them later on. I know you will be like, what? It totally makes sense though.

Normally, when people see a product on deep discount, they tend to buy it and convince themselves they will find a need to use that product. At times, this is not how thrifty people think.

What thrifty people will do is they will stick with what they need. They don’t bother buying products even when they are on sale just because they think they’ll find a need for those in the future. What thrifty people will do is buy products that they know they will need in the future even it means buying them now. This is especially true when the products are on sale and they have a budget to buy them.

People who have a habit of continuously buying stuff because they think they will need them in the future end up wasting money. Why? More likely than not, they will forget about their purchases and place them somewhere where they will remain hidden and unused for a very long time.

The scenario is worse when the products have expiration dates. Once the products expire, they won’t have any choice but to discard them. As a result, money is wasted.  Many thrifty people will not buy a lot in advance when the products can or will expire.

 

They keep using the products for a very long time

One of the known traits of thrifty people is that they will make the products they purchased last for a very long time. I’m talking about years if not decades. They feel like they need to get the most out of what they bought even if it means using them constantly.

What thrifty people will do is they will take good care of these products. They will maintain them regularly while non-thrifty people would just discard them and buy new ones. Just look at old cars. There are old cars that are still running up to this day. Their owners take really good care of them even when they have to put money to repair them.

But of course, some owners are just unreasonable in that they would spend more than what the values of their belongings are. I call this impractical. For thrifty people, it is about balance between practicality and reasonableness.

No kidding, I had a pair of shoes that I wore for 15 years, basically half of my life. When they were at the end of their lives, I tried to glue them, tape them, and did what I could to squeeze some more value from them. Call me cheap but I would say that it’s about practicality. If the shoes still serve their purpose, why would I get rid of them right away?

They find other clever uses of the products

Have you ever met somebody who finds other uses for products intended for something else? If you have, then, you most likely have met a clever or thrifty person. This is basically one of the things that thrifty people will do, almost always.

People who like to save as much as they can always find ways to re-use products for other purposes. They are the DIY people who see treasure out of what other people call trash. Find some DIY projects on Pinterest and you will see how thrifty people are able to transform junks into masterpieces.

Just the other day, I was looking on Pinterest and found pictures of old pallets. Surprisingly, the old pallets were transformed into functional tables, headboards, picture frames, and sliding doors. I was in awe because I never thought about transforming those into other products or maybe because I don’t quite often see pallets enough to make the connection. I was also excited in that I felt that this could be my project for the spring and summer seasons.

They look at the fine print

I call thrifty people as subject matter experts of fine print.

When you buy something, do you even go through the fine prints to see what the product is, the warranty, risks, among others? When you apply for a credit card, do you even read the terms and conditions? I would guess the answer is mostly not.

What thrifty people will do is they will read the fine prints. They find value in reading in them. They read them because they contain information they can use when the products break or is no longer usable. They understand when the warranty expires or what is covered. They will take their time to talk to customer representatives to clarify information.

Tip: if you use your credit card to purchase a product and the product breaks or is no longer functioning, go back to your credit card’s terms and conditions. You may find the extended warranty for your product. Don’t discard the product and buy a new one. Get in touch with the credit card company and seek assistance on replacements under the extended warranty clause.

Conclusion:

Thrifty people are often called cheap, unreasonable, stingy, and so many things. But if you really dig deeper and understand where they are coming from, you’ll realize that they are just practical people. They are people who find the need to stretch their dollars because they know how to do so.

Are you a thrifty person? Do you know of any thrifty people who will do just about anything to save money? Do you think thrifty people are practical or something else? Share your thoughts in the comment section.