Be a Frugal Utilitarian

It is quite the rage now to live a lifestyle of thrift. Many assume that if you cut back on expenses, you will naturally have more savings. I do not agree. Choosing the cheapest alternative all the time may not bold well for you in the long run and may end up costing you more. 

You might think that it is smart to hold back on servicing your air condition. But when it turns faulty later on, a chemical wash will cost you much more. Buying cheap hawker center food and fast food takeaways may look like smart money management, but many fail to realize that these kinds of food are usually bad for health. Health issues like obesity, heart disease etc may cost you more money to treat down the road. Insurance is also another important aspect. It is not wise to avoid/reduce your monthly premiums just to save a few hundred dollars. In the long run, too little insurance may cost you a fortune(under covered).

I think we should strive to be a Frugal Utilitarian. Always look at the overall picture and not solely at the immediate dollar and cent. If we focus more on the quality to cost ratio and not just solely on the cost itself, we can end up saving more in the long run.