3. Food. “Get the best food you can afford. Don’t subsist on presweetened cereal or frozen dinners just because you had coupons for them,” Freedman says. We probably waste money by not shopping around more, but we never scrimp on food.
4. Tools. New hand tools are usually expensive, and many are inferior to old ones. But whenever safety or convenience is an issue, buy new. They didn’t have battery packs and automatic shut-offs 50 years ago.
5. Housing. It’s much smarter to buy a dumpy house in a great area than a great house in a dumpy area. So-called “gentrification” sounds good, but it’s risky.
6. Health care coverage. I know people who have gone years without health insurance, simply to save money. I don’t think I could sleep at night without it. One traffic accident or one fall could bankrupt most working people.
7. Professional advice. Don’t look for a bargain when shopping for a doctor, lawyer or financial adviser. And never buy a house without having a lawyer examine the papers first. The real-estate agent is working for the seller, not you.
8. Automobiles. Don’t sacrifice safety and reliability when buying a car. You can save thousands of dollars by simply remembering that you’re buying transportation, not a status symbol.
Now you know why most Scots have money.
Danville native Kevin Cullen is a former Commercial-News reporter. Reach him at email@example.com.