This post is from our regular contributor, Erin.
Have you ever purchased something cheap for the sake of saving money, only to have it come back to bite you?
It’s easy to fall into the trap of spending the least amount possible, especially if you’re still living like a broke college student, but it’s not always the best choice for your wallet.
If you’re convinced that saving money is the only way to go, and that rock bottom prices are the best, this post is for you.
Let’s take a look at why it pays, literally, to focus on quality over price.
Cheap Stuff Breaks…A Lot
Think about any purchases you’ve made in the past that you thought you got a good deal on, only to have them break or fail within a year.
This could be anything from clothes, shoes, tools, appliances, or even cars.
One of the biggest offenders is clothes. There are many people who argue buying quality clothes that will last you for the next 10 years is worth the price.
After all, if you’re buying $5-$10 shirts that only last a year (or less), you’re spending more money every time you have to replace them.
What about small appliances? Say you opted for a cheap $70 knock-off Keurig machine because you didn’t want to spend $130 on the real thing.
Then it breaks after 10 uses.
You might find yourself wishing you had purchased the real model to begin with.
Should we even talk about cars? Buying a really old used car without any knowledge of how to repair it can be a dangerous bet. Before you know it, the car could become a money pit. Turns out you were probably better off buying a slightly newer used car for a couple thousand more.
Cheap stuff is cheap for a reason, plain and simple. Most of the time, corners are cut in production, and cheap stuff isn’t made to last. It can become a cycle of going back to purchase the cheap thing over and over again because you’re “saving money.”
Quality Items Actually Cause You to Spend Less
Most of the time, if you opt for quality items, you’ll pay less overall.
Going back to the clothes example – if you focus on cheap over quality, you’ll be replacing your clothes. A lot. Cheap fabric is prone to ripping and being ruined in the wash.
Would you rather spend $200 a year updating your wardrobe to replace items that have been destroyed, or would you rather spend $600 once every 3-5 years and buy classic clothes that will last?
I know it’s easy to get caught up in the moment and get starry eyed at a deal. I’ve been guilty of buying cheap things many times because I can’t bear to part with large amounts of money in one shot.
However, you need to take a long term view of your finances. Look back through your purchase history and see how much repeat purchases are costing you. Break down the cost per use when thinking of buying quality to lessen the blow. When you run the numbers, you’ll probably discover quality comes out ahead.
Going with Quality Means Less Hassle
How annoying is it to have to replace something on a yearly basis? Or even more frequently?
It’s tiring, especially if something breaks right after the warranty has expired (that always happens, right?).
We’re out of luck, and our money is down the drain.
I saw this happen quite often in my family because we were all about saving as much money as possible. Sometimes, we didn’t have a choice, as we couldn’t afford the quality option.
However, it was frustrating to watch as things kept breaking. I remember lawn mowers, cars, technology, and shoes being an issue.
It was like a never-ending cycle, and we were always waiting for the next thing to go.
This can easily lead to unnecessarily having to spend your emergency fund, and it’s also an emotional and mental drain.
One could argue that if you’re handy, you can repair cheap stuff or improve it. Yes, that’s true, but is it worth the time and effort?
My dad is extremely handy. There’s nothing he won’t try and fix. I remember him taking the back panel of our TV apart one day to investigate why the picture had gone bad.
But he’s not the most patient person, and when things are constantly breaking and needing to be repaired, he’s not very happy.
Save your sanity and splurge when it makes sense to do so.
Do Your Research
Of course, it’s important to still do your research. There are some brands out there that try to present themselves as quality, but aren’t.
You don’t want to spend a lot of money on something that’s just as bad as cheaper brands, but is disguised as fancy.
My most basic rule of making a purchase, especially when it’s larger, is to read up on reviews.
Sure, they’re not always 100% reliable. That’s why I try to look for products on Amazon that have a large number of reviews, this way there’s a more reliable sample size.
If it sounds good, I’ll look at reviews on other sites as well. I’ll review the warranty if the product comes with one, and I’ll compare all my options.
Sometimes, you can get away with a cheaper option, and sometimes, cheaper doesn’t mean absolute garbage.
Price isn’t always indicative of quality.
Do your research, ask friends and family if they have recommendations or first-hand accounts with the product you’re looking for, and make sure you’re going to get a lot of use out of whatever it is you’re buying. It might not make sense to splurge for quality when it’s going to be sitting in your basement or garage most of the year.
______________
No matter how frugal you are, or how much you might want to save money, spending more on quality can be worth it. Don’t just think of the immediate savings – think of the savings you’ll experience for the next few years as well.
Have you decided to focus on quality over price? When do you think it’s worth it to buy quality? Do you think basing a purchase off of price is a good idea?
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Honestly it depends on what I’m buying. I go back and forth between buying inexpensive stuff versus higher quality. With clothes I don’t spend much. Since I work from home and don’t really have a need for good threads, I’m not worried about things looking perfectly. Even my cheap clothes have lasted me a long time. With technology, I’m willing to spend a little bit more because I don’t want to end up collecting a bunch of junk that won’t work.
I agree with Tonya. I don’t spend lots on clothes but take care of them by not drying my work stuff and not washing everything until it really gets dirty. I used to think you should spend more on electronics until I won a crappy Acer laptop a few years ago in a raffle. It’s still going strong and has lasted as long as some of the more expensive computers we’ve bought over the years, so I’m not so sure. That’s where reviews come in handy I guess. We are going a bit higher end with our rental property in the hopes that we won’t have to replace anything for a while. We’ll see if that strategy holds up!
Yea, no point being penny wise and pound foolish. Sometimes it pays to buy a quality item which will last. However, sometimes it seems that the more expensive product doesn’t necessarily mean it’s made to last. It’s hard to find quality items that last like they did back in the day. With technology, things get outdated pretty quickly which often requires you to upgrade.
I am definitely onboard with this. For example, I would much rather pay $50 for a nicer sweater that is going to last me several years than $15 for one that will fall apart in less than a year’s time. It just doesn’t make any sense to me. Although I did buy cheaper maternity clothes when I was pregnant, knowing that I wouldn’t need them to last me that long. So I guess it depends on the circumstance, but overall I almost always go for quality over price.
Beachbudget I’ve found the same to be true for clothing as well. While I’d eventually like to get a few more staple pieces, most of my clothes from college are still hanging around! Technology is definitely worth getting quality.
Eyesonthedollar I do the same with clothes! Technology is tricky – I always look at reviews and ask my more tech savvy friends for their input. It can be really hit or miss with some manufacturers. I hope the rental property works out!
Andrew LivingRichCheaply I definitely agree. It seems like just about everything has a built-in lifecycle these days, which is sad. I try to take care of all my more pricier possessions in hopes they’ll last longer, but sometimes with technology, that’s out of our control.
Christina@EmbracingSimple I think I would do the same for “situational” clothing. If I have to buy a dress I always make sure it will be appropriate for more than one occasion. As it is, I don’t want to splurge on a wedding dress since it’s just for one day (renting seems like a good option).
I one time tried to save money and purchased shoes at Payless. I wore them for the day and had the worst blisters ever. I couldn’t wear the shoes again and ended up having to buy another pair, so so much for saving money. I do not skimp on my shoes, especially the ones I plan to spend a lot of time in, I just buy less of them.
blonde_finance Yes! I’ve mostly bought my regular shoes at Payless as well. Then I tried on a pair of Asics, and they were like heaven. Never going back. They’re also in great condition even though I purchased them over 2 years ago now.
I’ve started ti switch over from buying things that were cheap to now buying stuff that is good quality. I’m seeing that it’s working. I recently purchased some dress shoes for a higher amount that I would usually spend. They have been wonderful and I even get compliments about them.
Jason @ The Butler Journal I definitely believe in investing in a good pair of shoes, especially if you’ll be wearing them often. Besides not wearing down easily, it’s nice when our feet are properly supported!
I also feel like quality purchases come with better customer support. Like your example with the Keurig…I was having problems with mine 2 years after I got it. They were still willing to offer free support and even gave me a free (giant) box of kcups to replace the few kcups that were trashed when my machine was malfunctioning. I don’t feel like you find that kind of service with the off brand appliances, especially after so much time has passed.
SimplySave That’s awesome to hear! I do think you get better quality service with name brands as well. It’s always worth it to check what kind of warranties come with the items you’re purchasing, and what kind of service others have experienced after they’ve purchased something.
Yep, there’s a reason why the rich actually buy fewer things. They can afford quality items that last. Sometimes even things that they can pass down to their kids, meaning those people have to buy less.
I definitely try to balance the quality-versus-price issue. I look at the reviews to see if anyone complains about it breaking quickly or certain features not working as advertised. I also review features to see whether the price differential is worthwhile, and whether certain features could actually make it break sooner.
It can still be a crapshoot, but at least I tried.
AbigailP I can spend hours looking at reviews, especially if it’s for a more expensive item. But you’re right, sometimes it’s still a crapshoot! I like that you mentioned being critical of features and whether or not that could contribute to something breaking sooner. I (sadly) feel that way about new cars now – the amount of features they have just screams $$ in repairs to me!