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Few Examples Of When Being Cheap Can Cost You

Posted by Jamie Mac on May 8, 2014

So it turns out trying to save money could end up costing you in the long run. Here’s a few examples of when it’s probably better to spend the few extra bucks.

  • Cookware. Cheap pots and pans don’t last, and they don’t cook well. You might pay several times as much for expensive pots, but they’ll last forever.
  • Car maintenance. Cars break down a lot earlier if you don’t take care of them. You can save thousands a year by making a car last longer, and you can also sell it for more later, if you can show you’ve done all the recommended maintenance.
  • Furniture. Solid wood furniture lasts just about forever. With IKEA furniture, you’re lucky to make it through the first month.
  • Knives. The cheap ones lose their edge right away. Quality knives stay sharp longer, and you can keep sharpening them for a lifetime.
  • Hair conditioner. Cheap shampoo is okay, but cheap conditioner can be worse than none at all.
  • Shoes. Quality shoes pay for themselves by lasting longer. But cheap shoes can be EXTREMELY expensive if they cause foot problems because they don’t fit well.
  • Paint. Cheap paint doesn’t cover as well, so you end up using two coats. Two gallons of cheap paint cost more than one gallon of good paint . . . and it takes more than twice as long to put on two coats, because you’ll wait for the first coat to dry.
  • Exterior housing materials. Siding, shingles, paint and windows should all be high quality. Especially if you live in a place where it rains a lot.
  • Bed sheets. The cheap ones get uncomfortable after a few washes, and they lose their color quickly.
  • Energy efficiency upgrades. Pay more for good windows and modern appliances. They’ll pay for themselves in savings on your utility bill within a few years, and they’ll last for 15 years or more.

 

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