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Quality vs Cost: What Items Are Worth the Splurge

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  1. Show Notes

As demonstrated in Vimes’ theory of boots, sometimes it saves money long term to spend more up front.  What items are worth the splurge and which are not?

Quality versus cost is not about being fancy and always buying the most expensive version of everything or being cheap and always buying the least expensive version of things.  It’s about making sure what you buy lasts as long as possible so you don’t have to spend more money constantly replacing the same item.

Technology is a great example.  Apple products are less vulnerable to viruses than pcs.  A virus will cost you money either having to pay for repairs or replace the computer entirely.

A good rule of thumb on where to spend the extra money is “anything that comes between you and the ground.”  So shoes, mattresses, and tires.  You spend a third of your life in bed so mattresses are not the place to save some money.

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Anything that needs to last a long time is worth the extra money.  Things like cushioned furniture and appliances.  What you put into your body.  You don’t have to buy only the most pure, organic vegetables harvested at the light of the full moon by Buddhist monks, but thinking you’re getting a deal by eating from the dollar menu everyday is a costly mistake in the future.

Where can you choose the less expensive option?  Matt says clothes.  I would say you can spend less on casual, around the house clothes but a little more in dress and office clothes.  Wood furniture will last a long time without spending a fortune.  The only caveat would be weight bearing furniture like book cases which can bow if they’re the ultra cheap press board ones.

Let’s hear from you in the comments.  What do you spend more on and where do you save?

Show Notes

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Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

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