8 Purchases Finance Experts Agree Are Worth the Money

Electric car charging on parking lot with electric car charging station on city street.
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If you have the means, what can you buy that is actually worth the hype and the money? There are plenty of purchases that might make us feel better momentarily, but will lose their luster after a while. Or, we buy something because we see influencers raving about it all over our feed, but when we actually test it out, it’s nothing like it was sold to us.

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GOBankingRates connected with finance experts to get their take on which purchases are worth splurging on, so you can pass on the junk. 

Electric Cars

If you have the means, buying an electric vehicle can actually save you money in the future.

“Calculating the potential savings of going electric over gas is worth figuring out,” senior financial advisor at Albert, Daniel Demian, said. “If you drive a lot, depending on the numbers, an electric car can save you thousands over the lifetime of your vehicle.” 

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Real Estate

If you can afford it, you should buy a home, according to Demian.

“If rent and mortgage payments are on par, given you don’t overpay, purchasing a home is typically an appreciating asset that will help accelerate the growth of your net worth.” 

Milind Mehere, CEO of Yieldstreet, adds that buying real estate is worth it so you can make more by renting it out. “Investors may consider investing in real estate through a second property or through managed indirect real estate opportunities as a way to generate regular income via rents.”

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Art & Collectibles 

Art not only brings complexity to your home, but can be used as an investment. Mehere recommended purchasing some collectibles to expand your financial portfolio.

“Art has been a popular store of value for decades and gives the investor some aesthetic pleasure with the potential for price appreciation over time,” Mehere said.  

High-End Shoes

Investing in expensive shoes early on saves you money since you’re not constantly replacing them, according to Melissa Terry, CFA at VEM Tooling. Terry used the example of Oxfords. If you pay $150 for a lower-end pair, you’ll replace them every year. Over 30 years, that will cost you $4,500. Conversely, purchasing a higher-end shoe will last you longer and cost you less.

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“Let’s run the numbers. If you spend $800 on a pair of handmade leather wingtips and have them resoled every five years, you’ll spend around $1,400 over 30 years,” Terry said. 

A Comfortable Mattress

Though you should still shop around for the best price, Lyle Solomon, principal attorney at Oak View Law Group, recommended spending more for a quality mattress.

“Don’t play around when it comes to your sleep,” he said. “The most comfortable, supportive mattress you can afford should be purchased. Buy the best so that you may wake up every day refreshed and ready to tackle the work that lies ahead.”


If you depend on a laptop for your work, which most people do, then you might want to pay a little bit more for one that will last.

“There are many dirt-cheap computer alternatives available, but if you want one that won’t quickly degrade into a costly paperweight months after purchase, it’s wiser to spend the money upfront,” Terry said. 

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Life Insurance 

Experts recommend investing in life insurance, especially if it’s already a benefit offered by your employer. The advantage of having a policy can significantly outweigh how much it costs, according to Demian.

“If people depend on your income, such as your parents, spouse or children, purchasing an appropriate life insurance policy helps guarantee they are taken care of in unfortunate circumstances,” Demian said. 

Any Splurge on Something You Really Love

If you’re following traditional financial advice, treating yourself is not a bad thing. Christina Klenotic, SVP and head of brand and partnerships at Laurel Road, said you shouldn’t feel bad about spending money on something that will make you happy. 

“While saving and budgeting are the crux to being financially independent and living a rich life in every sense of the word, it’s also equally as important to reward yourself. If you pay yourself first by saving and investing each month, you shouldn’t feel guilty for indulging in travel or something you really desire because it will enhance your well-being overall.”

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About the Author

Sam DiSalvo is an LA-based comedian, writer and actor who's performed all over the country. Her written work has appeared in numerous digital publications. As a copywriter, she's worked with a variety of major brands including GoldieBlox and Thrive Causemetics. Sam loves dogs and is currently perusing leisure suits to buy for her corgi mix, Barry
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