I’d rather watch someone pee in a jar to save money than lie to their family about money.
Image Source/Getty Images
There are pretty extreme savings strategies on TLC’s Extreme Cheapskates, like making your own deodorant and peeing in a jar to save water.
I’d rather watch people pee in a jar than hide six-figure bank accounts from their spouse and children.
I also cringe when I see people biking 140 miles to and from a vacation destination to save $70 on gas.
Read more stories from Personal Finance Insider.
As the show’s name suggests, TLC’s Extreme Cheapskates has some pretty outlandish saving strategies, from making your own toothpaste and deodorant, to finding a wedding dress at a pawn shop.
Since binge-watching the show on YouTube, I learned a few unexpected lessons about saving, like being bold enough to ask for a deal or discount just because a millionaire cheapskate on the show was bold enough to ask for a free private flight at the airport.
If peeing in a jar to save a few bucks on the water bill or eating roadkill for dinner truly makes them happy, I am truly cheering on these self-proclaimed cheapskates from the sidelines. The parts of the show that truly make me cringe are when people sacrifice the health of their relationships to save money, or waste tons of time for a small payoff.
Here are three saving strategies on Extreme Cheapskates that I would never try.
1. Hiding 6-figure bank accounts from my spouse and kids
In one episode, a dad named Terrence forces his family to live like they’re poor and gives his wife a daily allowance. When his wife and kids ask how much money they have, Terrence shows them one bank account with a low balance. However, he laughs as he shares with the show that he has 16 different accounts. One of them has six figures in it.
I learned that hiding money from your partner is one of the most common money lies in a relationship that snowball into bigger problems, and that hiding large amounts of money from your partner actually counts as financial abuse. I could never imagine putting the numbers in my bank account over my relationship with my family.
2. Turning off the hot water while my partner is showering
Millionaire cheapskate Victoria Hunt checks her electric and water meter every single day to calculate her upcoming bill. On her episode of Extreme Cheapskates, she and her boyfriend start a one-week trial run to move in together. Hunt herself doesn’t actually use her own shower because she prefers to shower at the gym to save money. When her boyfriend moved in, she got anxious about the water bill and turned off the water while he was showering.
Showers aren’t just to get clean every day. The hot water also provides a good amount of tension release that makes me feel relaxed after a long shower. Again, as much as I love saving money here and there, I can’t imagine taking that comfort away for my own partner just to save a few extra bucks.
3. Biking to a vacation destination to save money on gas
Extreme cheapskate Jeff Yeager biked 70 miles to a vacation destination to save $70 on gas both ways. He called up a friend he met online and asked if he could stay at their house for free. Before leaving to go on vacation, he gathered up old trash to craft free gifts to bring his friend and her family. He also stopped by a seafood market on his way to her house and got a great price on fish heads to cook for dinner once he got there.
I’ve met with financial planners before who have told me, “I hate it when people spend thousands of dollars trying to save $100.” I felt that sentiment in my bones while watching Yeager bike 140 miles both ways to save $70. Not only is he wasting tons of valuable time, he’s also defeating the whole purpose of a vacation altogether: to relax, have a good time with friends, and create new memories.
Personal Finance, Extreme Cheapskates, Saving, Personal Finance Insider, PFI Related Content Module, pfi, PFI GOBankingRates, PFI-XAMP
All Content from Business Insider