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After the recent economic downturn, it has become even more important to cut costs wherever we can, from our gym memberships and recurring subscriptions to coffee runs and take out orders.
But while you’re busy monitoring your expenditures in an effort to save a few bucks here and there, don’t skimp on some of life’s essentials, no matter how tempting it may be.
Save yourself from future headaches (and possible heartaches) by refusing to go cheap on these 14 vital purchases. You won’t regret doing so!
1. Smoke Detectors
While saving money is great, when it comes to the safety of your family, no price is too high.
This means buying quality smoke detectors.
The last thing you want is tragedy because you needed to save a few bucks.
2. Toilet Paper
The cheap stuff is OK, but it feels like sandpaper.
It’s better to spend a little more and get some comfort when you are cleaning up.
Also, with so many stores, you can usually find high quality options that won’t break your budget.
3. A Bed
You’ll find that most resources say a mattress should last seven years at a minimum. That’s 8 hours a night (ideally) on a mattress, 365 days per year, for seven years (minimum). As far as we can tell, that’s 20,440 hours spent on the mattress.
And you’re considering buying an el-cheapo mattress to save $200? Makes sense.
4. A Lawyer
There’s a reason the public defender is free, and the elite corporate law firms charge more than $1,000 per hour. You get what you pay for. So what do you want, to go to jail or go free?
If you like your freedom (or value whatever else is leading you to hire a lawyer), do what you must to pay Johnny Cochrane’s fee. You can’t put a price tag on sound legal advice. Well, you can, but you get the point.
5. A Doctor
If you can afford a higher-quality insurance plan that allows you to see a better doctor, pay for it. If you can afford a concierge doctor, pay for it.
If you’ve ever been rushed in and out of the doctor’s office and spit back into the packed waiting room you just waited an hour in, you know that the price of personalized, attentive medical care is worth the steep price.
6. Plastic Surgery
How could the Kardashians look like they do and Farrah Abraham look like she does?
Money makes all the difference.
7. Power Tools
High-quality power tools will potentially last you a lifetime (more than making up for their premium price), and you’ll also avoid the potentially dire consequences of a power tool malfunctioning.
Of course, if there’s one item you really can’t afford to malfunction, it’s a power saw or nail gun for obvious reasons.
Don’t just pay the tattoo artist what they deserve. Do your homework, look at the artist’s portfolio, and be willing to say “no thanks.”
This way, you’ll avoid becoming the guy with a “No Ragrets” tattoo on their bicep. Don’t be the lady with a mural of their grandmother that looks like a mural of their grandfather on her pec. Pay top dollar for your tattoo artist.
9. Fire Extinguisher
Always pay your dues to the local fire department, keep the batteries in the smoke detector fresh, and don’t buy the foreign-made fire extinguisher that’s half the price.
Rules to live by, or rules to—let’s not go there.
You’d think people would know better than to purchase discount tires, yet the discount (and even secondhand) tire market continues to thrive.
And we wonder why car accidents remain a prolific claimer of lives.
11. Dental Work
If you’re going to have any kind of oral surgery, pay for a good dentist.
You’ll save yourself pain (nothing worse than Dr. McClumsydrill) and potentially a crooked smile if you spend a bit more on your dental work.
There’s a reason why the puppy is half-off. It could simply be an owner desperate to rid themselves of an unexpected litter. Or, it could be heartworms, a vicious temperament, or a host of other red flags accounting for the price drop.
You don’t have to spend your life savings on pure-bred Cane Corso, but you don’t want to check Sort by Price: Low to High when shopping for your best friend. If it’s worth owning for 9-12 years, it’s worth spending the extra couple hundred for. You’ll save in veterinary bills, anyway.
Buying the lowest priced computer is usually a bad deal because it has a slower processor and less memory.
This could cause issues if you plan to stream videos or store a large volume of photos.
So while it is tempting to look for the budget model, spending a little more can make a world of difference.
You might think all batteries are the same, but they aren’t.
The ones some at dollar stores and other discount locations tend to have less juice, meaning they don’t last as long.
So while you are saving money on the cost, you will end up buying them more frequently, offsetting this savings quickly.
Fun Money Saving Challenges
Do you find it boring to save money?
If you are motivation by turning things into a game, check out these money saving challenges. There is a game for you that will make saving fun and exciting so that you make it a priority to save money.
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But what if you knew how to save like a millionaire? Knowing this could help you to become wealthier than you can imagine.
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That all ends now. Here are the best ways to pay off your mortgage early, in some cases, in half the time.
This thread inspired this post.
I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.