The Boodle Blog
Buying cheap is buying expensive – is the heat getting to you?
I usually love summer but, sheesh, this has been a hot one. It might be El Niño messing up our weather patterns or something, but I can’t ever remember myself looking forward to the end of the summer heat as much as I do now. So, I eventually decided to buy an air-conditioner – I mean you only live once, and I thought that it made sense, dropping some money on a once-off purchase that would mean I might get some sleep during these sweltering nights and not feel like I was melting all day. Long story short, instead of investing in a quality aircon that would have made a real difference in my life, I went for the less expensive option. One of those guys where you empty ice into a fan and it has approximately the equivalent cooling effect as swaying backwards and forwards to catch a breeze. That's why this blog is about spending a bit more in the short-term so that you can enjoy a quality product in the long-term. Don't let my suffering because of buying cheap be in vain friends, remember it is the wise person who learns from the mistakes of others!
Better quality will save you money in the long run
One of the best places you can see this principle at work is in clothes. Yes, it's possible to get clothes that are not pricey, but buying cheap won't do you any favours. More expensive clothes look better on you. They are better designed and better made and will make you feel good when you wear them. And, here's the kicker, they are also made from better quality materials that will outlast the less expensive variety. That R60 t-shirt that you buy off the street will stretch, fade and rip its seams three times faster than a good quality t-shirt costing R120. So, with the cheap t-shirt you will probably replace it three times in the same year which means that you will pay R180. Maths!
Spend more, save more
Have you ever heard the expression "a fool can make money but it takes a wise man to spend it?” For example, a car that you thought was an amazingly good deal because the purchase price was low will end up being more expensive because of things such as maintenance, petrol, and the cost of buying replacement parts. It's a good idea to make an informed decision and do some research particularly on a big ticket item before you spend your hard-earned money on it. So, making sure that the vehicle you have chosen has all the features that are crucial for you such as various safety features, fuel efficiency, and so on. With houses you might regret buying the "steal" a couple of years down the line because you were buying cheap and compromised on something. Square meterage, the kind of neighbourhood, the location and proximity to work, things like that can't be changed very easily.
Cost versus value
Buying cheap is not necessarily a bargain. And likewise, more pricey objects can end up saving you money or be worth more to you. You know, in terms of things that can't be measured that easily – how they make you feel like you are just having a better experience driving to work, or like you look that much better in your tailored jacket. There are some things that you can only get by spending a little bit more.
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