The High Cost of Going Cheap: When Inexpensive Is Bad

January 7, 2013 | Posted By: Rebecca Garland | Categorized in: Finance, Home & Auto, Family


There is a lot to be said for a great bargain. You spend less than you'd normally have to shell out and get something of terrific value in return. But sometimes the great deal you think you're getting isn't all that great. In fact there are several circumstances where going cheap can even be dangerous.

Childcare

Parents spend hundreds, even thousands, of dollars on car seats and safety gear to protect them. We spare no expense for the babies, and then sadly then many parents seek out the least expensive childcare in the area as a way of saving money in the monthly budget.

There is no doubt that childcare is expensive, but paying for the lowest cost provider may give you the least effective care as well. A babysitter or childcare provider who brings in children paying the bare minimum will have to bring in more clients to make a fair profit. Charging less per kid means more kids with less attention to make a profit. There are legal considerations to how many children a babysitter can have, but sometimes paying more for individualized care is definitely worth it.

Workplace Safety

There are a lot of expenses that go into preparing yourself for a day on the job, regardless of industry. This is especially true, however, for those who work as contractors or employees in potentially dangerous situations like oil rigs and refineries.

Since fire retardant clothing and steel toes shoes are often the safest choice for this sort of exposed work, they are recommended for everyone, but often not provided by the company. Fortunately the workers who are looking for safety can buy their own to wear, yet many don't. Skipping out on safety gear or buying the inexpensive version sold by discount retailers may make a bad situation worse if there ever was a true emergency. In the case of equipment and clothing designed to keep you from harm, all expenses should be considered an investment rather than a cost - regardless of price.

Home Security

Finally there is an astonishing lack of investment in protecting our most expensive purchase - the family home. Your house is your most expensive monthly line item in most cases and it is somewhere you should feel safe and secure. Yet most homes are barely secured against invaders - a backdoor with a standard lock, for example, is a simple matter to open. Often a burglar or invader can just kick it and it's open in a heartbeat.

It can save you a lot of money to skip the monitoring on your home security system and there are even greater savings if you stick with all of the standard builder-grade locks and doors. Often we don't realize how unprotected you are until someone else shows you how flimsy that door frame or lock really is. Invest in a home security system with monitoring and you'll have a greater piece of mind and you'll be keeping your family and possessions far safer in an unpredictable world. That is worth almost any investment.

Additional Resources


Is Couponing Worth It?

A Detailed Guide to Shopping Safely Online

Generate Less Waste, Save Money and the Planet

How to Calculate the True Cost of that Hotel Room

Cash Back Resources

6PM Coupons

Amazon Coupons

Dickies Coupons

Lowe's Coupons

Home Depot Coupons

Rebecca Garland is working hard to populate the internet with relevant, engaging materials. She writes for many clients including http://www.flameresistantclothinghq.com and enjoys a wide range of topics including home improvement and family safety. You can learn more about Rebecca on her professional site.


Share this:
Comments
No comments
Post A Comment
Log in using Facebook


TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014