Sometimes “Free” Doesn’t Really Mean Free

Everyone likes free things, but nothing in life is truly free.

Do you like getting things for free? If so, you’re far from alone, but there’s a hidden secret regarding free things: nothing in life is free. That may be an exaggeration, but the hidden costs of receiving certain “free” things are likely higher than you thought.

When you receive anything for free, you are probably too overjoyed to think about the future; why would you? Well, many things that people receive for free end up requiring sizable future investments. For example, free shipping always looks like a great deal, but eCommerce retailers know how good the deal looks, and they are (usually correctly) assuming that you won’t notice that you’re paying more upfront to offset your “free” shipping.

Another great example is furniture. Furniture is expensive, so finding or receiving free furniture can seem brilliant at first. However, if the free furniture you received has bed-bugs, they can spread and wreak havoc on your other furniture as well, ultimately costing you a lot more than one new sofa would. That free sofa your friend just found off the streets may end up costing you more than you could’ve assumed.

There are many other examples of this, but it is another financial lesson that follows a common thread: patience and long-term planning. Warren Buffet attributes much of his wealth to patience, and he isn’t alone. Whenever you make a purchase OR receive something for free, try to think creatively about how it could end up further emptying your wallet. It may sound strange, but if you can turn it into a habit, your wallet will thank you later.

Written by  
5 years ago
Article Tags:
· · · · ·