4 Things To Consider Before Always Buying the Cheapest Version
Written by
Karen Doyle
Edited by
Susan Kim
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We’ve all done it: tried to save a few bucks by buying a cheaper version of an item, only to have to replace it within a few months, and therefore spending more than if we’d bought the more expensive alternative in the first place.
It’s tempting to always buy the least expensive alternative, and sometimes it makes sense. If it’s an item you’ll only use for a short time, or infrequently, going with the cheaper version can work out. But for things you use all the time, you may want to spend the money up front.
Here’s how to know whether it’s smarter to pay more now so you don’t have to pay again later.
Look for Quality
Products that are made with better material and use better manufacturing processes will cost more, but they will also last longer. Clothing falls into this category, so if you’re buying a garment you expect to wear for a long time, choose natural fabrics like cotton, linen, cashmere, or silk, and look for quality construction.
The same is true for big-ticket items like appliances. Paying more for a quality washer and dryer usually means that it will last longer than a cheaper model, which you may be replacing in 10 years.
Think About Performance
When you buy a more expensive item, you will often enjoy better performance. For example, a more expensive refrigerator may keep your food fresher longer, so you’re throwing out less spoiled food. It may also be more energy-efficient, so you’re paying less to operate it.
Consider the Waste Factor
Since cheaper products need to be replaced more frequently, they create more waste. This is an environmental issue as well as an inconvenience, since disposal can be a challenge, especially for larger items.
Which Items to Splurge On
You don’t always need to buy the most expensive item for every purchase, but there are some things you should consider paying more for. These items are also worth repairing instead of replacing.
Clothing
For classic pieces you know you’ll wear for years, spend the money on garments that are made well from quality fabrics. Then, take care of them the way the manufacturer suggests. If a seam comes apart or a hem falls, have it repaired by a tailor or dry cleaner rather than replacing it.
Shoes
Quality shoes aren’t just a fashion statement – they can be beneficial for your health, too. Good shoes will support your feet properly and can prevent foot-related issues like blisters, bunions, and more. A good pair of quality shoes can be repaired or re-soled as necessary, so they last for years.
Furniture
Good quality furniture can last for years and can pay for itself many times over in terms of both style and comfort. This is particularly true of mattresses – pay the money for a good one and you’ll rest easy for years.
Appliances
An appliance that quits can send the whole household into turmoil. Being without a working washing machine, dishwasher, refrigerator, or stove is just no fun at all. Prevent – or at least delay – these events by buying quality appliances and identifying a local repair service to keep them in good working condition.
Household Goods
Some groceries, paper products, and other household items can fall into the category of ‘you get what you pay for,’ but not all of them. Compare the cheaper and more expensive versions of the things you buy on a weekly basis to see which items you can save money on and which ones you want to splurge on. Remember the usage factor – single-ply toilet paper is no bargain if your family uses three times as much.
Remember that ‘name brand’ doesn’t always equal ‘quality.’ This is especially true of designer clothing and accessories – there’s no need to pay more for that handbag or coat just because it has a recognizable name or initials. Look for quality materials and construction instead – that’s when you’ll get your money’s worth.
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