Let’s say it would involve at least a small bit of extra time or inconvenient or loss of preference.
Suppose there was a $1 bill caught within a hedge, but it’ll take some careful maneuvering to get at it – would you bother?
Would you take a route to someplace that would take fifteen minutes longer, but it avoids a $2 toll?
Would you buy a different brand of, oh, crushed tomatoes if you had a 25 cents off coupon?
Would you even bother to cut out a 10 cents off coupon for a brand you actually do buy?
Would you go a couple miles out of your way to get to the gas station with 10 cents per gallon cheaper gas?
Would you buy the light blue sweater that’s 50% off instead of the medium blue sweater you really prefer but which isn’t on sale?
Would you buy the fridge with the top freezer (instead of the bottom freezer you’d rather have) because it’ll save you $150?
In essence, how large a savings does it have to be to influence your behavior?
I do not bend down to pick up any coin less than a quarter. Sometimes, I return two nickel soda bottles to the supermarket, but that doesn’t involve a separate trip. If I could get a bottom freezer for only $150 more, I almost surely would. I might go a few miles out of my way to save 10 ¢ a gallon on gas, but no more than that. I would probably expend a bit of effort to get that bill.
Interesting examples. I’d wade into the bushes to get the dollar bill, but the fridge I want is worth the extra money to me. I basically never buy clothes that aren’t at least 50% off, but I don’t bother with coupons because I’m not organized enough to remember them and I very rarely buy processed food. The driving ones, I agree, are false economy.
Drive an extra 15 minutes to save a $2 toll amounts to $8/hr. less the cost of driving for 15 minutes-NO
Crushed tomatoes are crushed tomatoes. If I were standing there with a coupon, of course I’d use it.
Drive a couple miles to save 10 cents per gallon on gas? I have a 34 gallon tank so probably yes. But I try to know where the cheapest gas is and pick up gas on the way to somewhere else.
I would want a top freezer and $150.
If it am running, I won’t stop and bend over for a penny or maybe even a nickel. Above that, I’m going down (no jokes).
There are times when I will spend energy far beyond the seeming value to save money. It’s good practice. If I really want something badly, I will not purchase it if I feel it is over priced.
Generally I figure my time (not work working time) is worth a couple bucks an hour. I aint going to spend an hour saving 2 bucks. If its something I absolutely HATE doing like using coupons/rebates/giant sales packed with crazed shoppers, waiting in long lines the dollar value goes up considerably. For example, lets say somebody tells me they will give me 10 dollars for waiting in line an hour. Nope. 20? mmmm No. 50? Maybe depending on my mood at the time and how busy I am. A hundred? okay now we are talking.
Which is kinda silly because I do all kinds of home repair/DIY projects where I probably only “make” 10 to 20 dollars DIY (and for some much less than that). I’d be better off paying someone else to do them if 2 dollars is my value for my free time. But I don’t HATE doing them. Some I almost like doing. And even if I don’t really like doing them at least I have a sense of accomplishment when I stand back and look at what I did with my own hands and brain, which using coupons/sales and stuff like that doesnt do for me. Also, at least if I DIY am pretty sure its done right and looks really good when finished (though it may well take me longer than a pro to get it done).
Ah. See, I’m in New England, home of the windy, narrow roads laid out by drunken cows. So I was picturing a choice between paying the toll and taking nice straight high speed highways versus crawling around on back streets, contending with traffic, towns, street lights and such. As in, the time for the trip is longer but basically the same mileage. So your gas expenses are the same either way.
So – 15 minutes of extra driving but no additional gasoline cost to save $2 on a toll?
I pick pennies up when walking since it just requires bending over.
I pick up nickels and higher when cycling cause that takes actual work of braking and turning around. The most I ever found while cycling one morning was 4 dollars worth of coins. Now most parking meters take credit cards so finding coins on the street is more and more less likely.
Would go for the dollar bill if it would take a minute or less. Otherwise…lert someone else have it.
Would have to do cost-benefit analysis on the toll issue. Probably I would do whatever was most time-efficient.
Tomatoes is tomatoes; I’d probably use the coupon. Maybe, maybe not on the ten cents off - probably wouldn’t bother.
Absolutely not on the gas. My time is worth something and no way am I going to drive two miles, then sit in line to save a measly 10 cents per gallon.
I would buy the sweater I actually wanted.
I would probably look for a good used deal on the fridge I wanted, rather than settle for something I didn’t really want just to save $150.00. Or I would spend the extra $150 for something I really wanted.
I asked because of two incidents that happened this morning.
First a neighbor told me he was driving to a particular gas station that is about 4 miles away (with at least eight gas stations closer) in order to save ten cents a gallon. So I’m thinking: round trip 8 miles, likely a third of a gallon of gas given his car. The local price for gas was 3.69, the cheap one 3.59. Assuming he could put 20 gallons in his tank, he’s saving $2.00 while spending 1.20 cents worth of gas. Net savings of $0.80
Personally, I wouldn’t do that. The additional time, the failure to support the local station – not worth it for a lousy 80 cents.
Then later on I was having coffee at a different neighbor, and the subject of coupons came up, and she said she couldn’t be bothered to clip a coupon unless it was for at least $1 off. Me, I’ll clip any coupon for a brand I buy, or an ‘acceptable’ alternative, that’s at least a dime.
So, there you are: in one case I’m too lazy to save 80 cents and in the other I’m too frugal not to use a coupon for ten cents.
I’ve spent 15 minutes chiselling up a nickel some kids superglued to the sidewalk. The idea of not saving money, or not even picking up money is alien to me.
I look for the best product within a budget that I can afford, for pricier stuff, and for cheap stuff I just generally don’t care or I become a skinflint. Except, catsup must be Heinz, regardless of price.
For a lot of these, I have to say that I don’t know what I’d do. Except for the picking money off the ground. If I’m walking around and I see anything less than a quarter, I will probably walk right by it. Unless it’s on my own floor or lawn. In which I will pick it up, but only because I would pick litter up in the same situation.
