We talk a lot on this blog about the importance of budgeting, tracking your money and limiting unnecessary spending. But some things are worth the extra money. At the end of the day, you must weigh the initial outlay, which may be more than you want to spend against the value of a product or service that will save you money down the road.
Our ultimate goal is to save money, to move out from the paycheck-to-paycheck existence and to get rid of debt. However, these five things are worth the extra money, because sometimes the adage “you get what you pay for” is true.
A mattress may be the most important piece of furniture you buy. A poor-quality mattress will leave you sleep-deprived and in pain. Your body requires good support during the night, especially your back. If your mattress is thin, or lumpy you will find yourself tossing and turning all night and performing poorly the next day.
A mattress is worth the extra money. You don’t have to invest in the most expensive, high-tech mattress on the market, but you should go to a reputable store (not online) that specializes in mattresses. Even the best mattresses go on sale, so keep an eye out for seasonal sales. The next sales period is coming up over Memorial Day weekend. But retailers offer great sales over July 4th and Labor Day too.
And while we’re on the subject of mattresses, investing in high-quality linens will save you money in the long-run. Be sure to read the packaging to determine the ratio of materials used to create the linens. Considering how often they go through the washing machine, paying a little extra money for linens will save you from repetitive purchases.
Quality Clothing is Worth the Extra Money
Buying clothing requires you to think strategically. What is the purpose of the clothing item? Is it for you or the kids? Kids grow out of clothing quickly. Spending a fortune on trendy brands is not worth the extra money. Hand-me-downs and second-hand stores should be your destination when buying for them.
Professional attire is worth the extra money, particularly if you buy fashion that is mainstream and not trendy. You don’t have to go to the most expensive clothing retailer. In fact, you can continue to frequent second-hand and discount stores, but pay attention to the label. Make sure it’s a quality manufacturer.
Spending extra money on your clothing doesn’t mean you have to buy the most expensive. For instance, a pair of jeans that you buy for $20 is not going to last as long as the jeans you buy for $50. On the other hand, spending $100 for a pair of jeans does not guarantee a higher quality product.
When shopping for a car, new is not necessarily a requirement, especially if your budget cannot afford it. On the other hand, a cheap second-hand car that will require multiple repairs before it finally dies is not the way to go. You have to find the middle ground.
First thing is to determine your minimum requirements for a car: will you be commuting to work every day? Do you want to use it for a side gig too? Are you single, a couple, kids?
Do your homework. Research models, market price, and the reputation of dealers. If you purchase through a second-hand platform, such as Craig’s List, be sure to check out all the records of maintenance and have the car thoroughly examined by a reputable mechanic.
There are certain times that are better than others when purchasing a car, such as during the week. It is less busy on the lot during the week, leaving salespeople more anxious to make a sale. This puts you in the bargaining seat. According to Bankrate.com, outside of the Memorial Day holiday, summer is the worse time to find bargains.
If you’re into fixing up your own home, you need good tools, not cheap tools. The same goes for kitchen tools. Time is a precious resource and if your cheap tools mean that it takes you twice as long to accomplish the task, then you will lose the money you thought you were saving.
Brands are important, do your research, check out the reviews on social media and ask your friends. You can still go to the big box stores to hunt for bargains. But spend a little more money to purchase the better-quality home, garden and kitchen tools you need.