Lowering Your Frugal Setpoint

by Mary Ann Romans | More from this Blogger

This past weekend, I had the opportunity to help out at a children's outgrown sale. It was so much fun interacting with the staff and with the shoppers, plus during slow times or when we were fixing up the racks, the people working the sale were able to take a closer look at some of the items themselves.

One thing that emerged for me was the fact that everyone there, staff and shoppers included had their own frugal setpoint. A setpoint is the point or highest price that you are willing to pay for something. This can vary by the type and quality of the item of course. So while you may be willing to purchase a bike at $30, someone else may only wish to pay $10.

Some of us at the sale were amazed when a stroller was sold for $75, for example, while others thought this was a cheap price. A nice heavy kids winter jacket was market at $10, a real steal, except that I wouldn't have paid more than $5. Why?

I think that the more you get used to prices out in the world of resale, the lower your frugal setpoint may become. This can also depend on where you shop.

The reason I wouldn't pay more than $5 for a really nice kids winter coat is because I have been able to get other nice kids winter coats for anywhere between $5 and $1, some of them still had tags on them. I tend to shop thrift stores, yard sales and even thrift outlet stores. Someone who shops on ebay, may save a lot of time and hassle, but they will also be used to paying much higher prices and may see that $10 coat as a true bargain.

If you want to lower your frugal setpoint, the best thing to do is to get out there and do a lot of shopping (or at least browsing) in different places. What does something cost at retail, on clearance, or used?

Do you have a frugal setpoint for certain items?

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Learn more about Mary Ann Romans

Mary Ann Romans is a freelance writer, online content manager, wife and mother of three children. She lives in Pennsylvania in the middle of the woods but close enough to Target and Home Depot.

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