It doesn't always pay to go for the lowest price. Here's where frugal shoppers make their biggest mistakes.

It pays to spend less whenever you can, right? Well, not necessarily. There are some cases where the “less is more” principle doesn’t work.

Being cheap cuts costs for the moment, but it may cause you to incur additional expenses in the long run. That ends up being the antithesis of frugality.

Here are a few instances where thriftiness can backfire.

1. Couponing

As an ex-couponer, I know all about this. I remember sitting at the dining room table every Sunday afternoon cutting away at the weekly circulars and matching the coupons from my ridiculously large collection to the sale items.

I saved a ton of money, but I also ended up with a massive stockpile of items for which I had no real use.

The moment of truth came when I headed to my stockpile, only to realize I had accumulated 18 sticks of deodorant and six jars of mayonnaise, the latter of which I likely wouldn’t use before the best-by date. That’s not to mention the hours of my life spent clipping away that I could have used to generate additional income.

The choice is yours, but I suggest you conduct a cost-benefit analysis to determine whether the hours spent on couponing are worth it.

2. Adopting a deprivation budget

When you create a budget to curb spending and reach financial goals, it may be tempting to jot down the leanest figures imaginable. But what will you accomplish if you severely underestimate your expenditures?

I understand cutting costs, but being unrealistic means your spending plan will fail. For example, if you typically spend $600 at the grocery store for a family of four, what sense does it make to shave that number all the way down to $200? The answer: none at all.

Need help learning to manage your money? Check out “4 Rules for Creating a Painless Budget.”

3. Cutting corners on insurance

Are you riding a wave of luck when it comes to your insurance policies? Do you carry the bare minimum level of auto coverage your state requires? Or, perhaps you’ve signed up for mediocre health, dental, homeowners or life insurance policies.

Or, maybe you’ve raised your deductibles even though you don’t have enough money in the bank to cover the costs before insurance kicks in.

You may have done these things to keep premiums low. But if an emergency arises, your wallet and bank account could be turned upside down by out-of-pocket costs and exorbitant deductibles.

4. Ignoring routine medical visits

Ever heard the phrase “an ounce of prevention is worth a pound of cure”? Keep that in mind the next time you’re tempted to skip a visit to the doctor or dentist. Even if you dread doling out cash for co-pays or meeting deductibles, it’s worth it to stay on top of things.

Just think about those individuals with debilitating medical conditions who could have detected them earlier — when they were more treatable — with routine blood work. Others ignore dental visits for so long that they now must live with gum disease and costly deep cleanings for the rest of their lives.

5. Buying inferior big-ticket items

If frugality is deeply embedded in your genetic makeup, it’s no surprise that big-ticket items with low sticker prices may be enticing. However, cheaper is not always better, especially in this situation.

A perfect example is the purchase of a cheap car. It may look good, smell great and come with a bargain-basement price tag, but snagging this “good deal” could leave you with a clunker.

Car leases can work the same way. You cut costs for the life of the agreement, but end up where you started when it’s all said and done.

For more, check out “7 Steps to Buying a Reliable Used Car.”

6. Avoiding car maintenance

It’s imperative that you schedule routine maintenance to keep your car running. Catching problems now when they are small will keep you from paying major repair costs later.

Avoiding the mechanic may temporarily shelter your wallet, but could even put your life at risk on the road.

7. Cutting back on nutritious food

You may be tempted to reduce the presence of healthy, costlier foods like fresh produce in your family meals. But replacing nutritious food with less expensive fillers or processed foods can be bad for both your waistline and overall health.

For more tips to help you avoid wasting money at the grocery store, check out “19 Things You Should Never Buy at a Grocery Store.”

8. Frequenting deal websites

These are what I like to call the “forbidden fruit.” When websites like Groupon and LivingSocial burst onto the online scene, Americans were in a frenzy.

I’m no exception. I got sucked in and vowed to myself that I’d buy just this one thing. But it turned into a lot of fine dining vouchers, spa treatments and weekend excursions, some of which I didn’t even use.

9. Shopping at warehouse clubs

This is another area where doing it properly can produce major savings. These businesses pride themselves on selling you massive quantities of a particular item at a discounted rate.

But what happens if you can’t consume it all before the expiration date? And let’s not forget about the membership fees and the storage space you will need at home.

Plus, have you compared the per-unit price? Are you sure you’re always getting a better deal?

For more advice on what to avoid, check out “19 Purchases You Should Avoid at Warehouse Clubs.”

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