Could Frugal = Wasteful?
I’ve always considered myself to be a pretty smart cookie when it comes to making purchases. I decide what I want, and then hunt out the best price for it. What I generally thought was pretty clever is if I found something I needed / wanted but deemed it too expensive, I’d hunt out an alternative at a better price point. Makes sense, right? Maybe not.
As we’re coming to the end of the year (and I have this habit of budgeting to a calendar year, not a financial year) I’ve been going over the year that was and planning the year to come. This has lead me to discover some astonishing things. Most noteworthy of these is the rather alarming fact that in my attempt to be frugal and find things at a more “reasonable” price point, I actually end up buying stuff I don’t use. Sure, I like it – but it wasn’t that thing I really wanted.
Sadly, it seems I’m not alone. According to a 2007 study by eBay, the average Australian woman has about $725 worth of unworn clothes in her closet (men, you’re not immune, averaging $375). Even more shockingly, these figures were based on average selling prices on eBay – not even retail prices! The study went further, outlining that:
“Among the most unloved wardrobe items is the humble t-shirt. The average female owns five t-shirts she does not wear, while men have three. Despite this, 47% of Aussie women still plan to purchase another t-shirt in the next month.”
Seriously?!
Perhaps then in looking to be frugal we need to focus on purchasing fewer things, not individually cheaper items. It’s long been said that whilst an item of exceptional quality may cost more upfront, it will pay for itself in the longer term by lasting longer. With the information above to consider too, however – perhaps items of superior quality pay for themselves in another way. Theoretically, if you have the one thing you truly want – why would you need five cheaper versions? Heck, think of the impact we’d have on landfill, consumerism and the environment too – if only we could all embrace this mantra.
So, come 2010, I’m going to be embracing quality over quantity. Higher prices and less stuff. Out with the sale season and in with the new season. At least for the most part… surely the occasional bargain is good for the soul. And your wallet… or something like that.
