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Living frugally is important if we want to get ahead financially, but that does not mean sacrificing quality when it comes to the items that you buy.
Sure, finding bargains and spending smartly will help you stretch your hard-earned dollar further.
However, making cost-saving decisions on certain purchases may end up backfiring and costing more in the long run.
Today, we outline 12 items where balancing money savings with quality can make a real difference in how well they perform or how long they last – so don’t be cheap!
It’s time for an insight into how saving a few bucks now could very well equal greater costs down the road.
Although therapy isn’t cheap, millions believe the cost is an invaluable trade-off for proper mental health.
Talking to others about your issues can be difficult, but mental health professionals are available to help you traverse anything in your life!
Think of going to therapy as investing in your happiness.
2. A Quality Espresso Machine
If you constantly spend $5 on Starbucks every morning, I shudder to think how much money you waste daily
Countless people confess that their investment in a quality espresso or coffee machine pays for itself after just a few months.
Think of all the money (and time) you’d save if you made coffee at home each morning!
3. Refundable Plane Tickets
Take it from someone who knows: The extra money spent on refundable plane tickets is the best traveler’s insurance available!
While most trips will never need rescheduling, you’ll appreciate that you shelled out more money for pricier tickets if your plans unexpectedly change.
Fortunately, the difference between refundable and non-refundable plane tickets is usually just a few dollars.
4. Baby Wipes
Some people swear by baby wipes — and aren’t afraid to preach their greatness!
“Baby wipes are absolutely superior to toilet paper,” says one woman. “I won’t go back to paper, and I can’t believe I didn’t make the switch sooner. Sixty sheets of tissue vs. six wipes really makes a difference.”
5. A Good Car or Truck
A good automobile can give you more than safe and reliable transportation: It can provide you with peace of mind. “I recently bought a 2015 model in 2017 and haven’t had any issues yet,” reports one man. “Before this, I had a 2003 and a 2004 model after that.
Breakdown after the breakdown was extremely frustrating, and even though I had to pay monthly for the newer car, it was worth it not having the anxiety of, ‘It’s cold out; will my car start?’ Or ‘I’m on the highway and hear an odd sound. Is it going to breakdown again?’” As the owner of a 2022 model, I’m glad those days of uncertainty are behind me.
6. Seeing Your Favorite Band Live
If you’re ever on the fence about deciding whether or not to buy tickets to see your favorite band perform live, stop and think how many hours of enjoyment the band has given you in your life.
In most cases, the answer will be “countless.” So, why not send your appreciation to a band that has given you so much over the years?
Besides, I’ve never heard anyone regret buying tickets to see their favorite band.
7. Air Conditioning
No matter how much it costs, countless people admit that investing in quality air conditioning improves their lives immensely.
Whether upgrading a wall unit or installing central air conditioning, any cost will be offset by the beautiful feeling of not sweating in your house during the hot summer months.
It warms my heart to hear stories of people who cherish books. In many people’s minds, the more books, the better!
“My parents didn’t have a ton of money when I was growing up, so I didn’t get a lot of toys if I asked for them, but if I ever asked for books, they always got them for me,” reveals one avid reader.
“My mom always says it was worth it for me to have and love books and be a strong reader. Books are always worth the money.”
9. Pre-Purchase Home Inspection
Never pass on a home inspection! I distinctly remember my father yelling at my younger brother when he bypassed his home inspection before purchasing. I’ve never seen my father so angry!
“I had a great inspector that found major non-disclosed structural issues with a house I put a deposit on,” explains one new homeowner.
“I walked away with all my money returned and dodged a huge bullet.”
10. Uber After a Night Out
Don’t be stupid. Many people have learned the hard way that using a rideshare service after a night out can mean the difference between making it home safely or ending up in jail for drunk driving.
You should never skimp on the safety of yourself and others around you!
11. Catering Services
When it comes to catering services, going with the cheapest vendor is rarely a good idea.
The quality of food and presentation can be very different from one caterer to another, and if you don’t choose wisely, you could end up with an unsatisfied crowd that may not come back for seconds or thirds!
It’s worth doing your research and finding an experienced caterer who can provide the quality of food you desire at a price that fits your budget.
12. Home Renovations
Another place where you might be tempted to skimp on cost is home renovations.
Instead of buying cheap materials, splurge slightly and invest in high-quality stuff that will last for years to come without needing frequent repairs.
The money you save in the long run will be worth it!
You’ll also be able to enjoy your newly-renovated home with peace of mind knowing that it won’t need any further maintenance for a while.
How To Have Stealth Wealth
When we think of the wealthy, we think of big homes and flashy cars. But many millionaires have stealth wealth.
This means you would never know they are rich by looking at them. The benefit? People leave them alone.
How To Get Free Money
The idea of free money sounds like it can’t be true. But it actually is.
There are many ways you can get free money, from playing games, to watching videos, and more.
Here are the best ways you can get free money without having to work for it.
Learn How To Save $100K
Saving money can be hard, especially if you are looking to have $100K in the bank.
But while it feels difficult, don’t let this stop you. Here is how you can save $100,000 in nine steps.
Good Money Habits To Have
In order to get ahead financially, we need to develop good habits.
Most people talk about bad money habits to get rid of. Here are good money habits you need to follow if you want to take the next step financially.
Save Money On Groceries
It’s no secret that grocery shopping is a significant expense every month.
While most of us know a few ways to reduce this bill, there are many other simple things we can do.
Learn the easy tricks to spend less on groceries and pocket some savings.
This thread inspired this article.
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.