Let's discuss expensive things that save money in the long run. Buy one expensive thing can be cheaper than buying 10 cheaper things that break.
1) Cheap Cars. It's ok to buy a used car, but it's not OK to buy a crap car. Spending $1k on a car that needs $2k of repairs annually and you would have been better off spending $5k to start with on a better car.
2) Cheap education. It's ok for some degrees to be taken at local crap schools. Teacher degrees, etc. It's not OK to get a law degree or an MBA from a stripmall. Without the right name for certain type of degrees, you won't get hired and you will have wasted your money.
3) Cheap appliances. If it keeps breaking and you dont have the skills and tools to fix it, then its cheaper to buy new or higher quality.
4) House! If you are going to need to move in 2 years because you are going to have kids, then it makes sense to postpone buying until you can afford the place you need.
1. Choosing the better health insurance option from your employer, especially if you have children (which always seem to be germ/illness magnets and accident prone).
2. Buying a better laptop if you are going to buy one. Choose a laptop with as much RAM, processor speed and disk space that you can afford. It won't reach it's end-of-life as fast as a cheap piece of junk laptop with barely enough memory to run Windows, and you'll be a lot happier.
3. Spend a little more and buy good shoes that fit right, not cheap Payless\Target\WalMart crap. Most people take their feet for granted and wear old, worn-out shoes with inadequate support or space for their toes. I didn't realize how important the feet were until I wore a pair of heels that were a little too tight. Now I have chronic toe pain, and have to wear not-so-cute dress shoes.
4. Buy better food. Eating McDonald's everyday is cheap, but will harden your arteries which will cost you more in healthcare bills later, if it doesn't kill ya.
Shouldn't this thread be called "things not to cheap-out on" or "times to not go with the cheapest option"? None of the examples in the OP necessarily need to be "expensive", you could buy a moderately priced car or appliance, no need to buy the Miele appliances when the Whirlpool Gold will do, for example
TxAggieJen said: 1. Choosing the better health insurance option from your employer, especially if you have children (which always seem to be germ/illness magnets and accident prone).
2. Buying a better laptop if you are going to buy one. Choose a laptop with as much RAM, processor speed and disk space that you can afford. It won't reach it's end-of-life as fast as a cheap piece of junk laptop with barely enough memory to run Windows, and you'll be a lot happier.
3. Spend a little more and buy good shoes that fit right, not cheap PaylessTargetWalMart crap. Most people take their feet for granted and wear old, worn-out shoes with inadequate support or space for their toes. I didn't realize how important the feet were until I wore a pair of heels that were a little too tight. Now I have chronic toe pain, and have to wear not-so-cute dress shoes.
4. Buy better food. Eating McDonald's everyday is cheap, but will harden your arteries which will cost you more in healthcare bills later, if it doesn't kill ya. I agree with all except the laptop... for that it all depends upon your usage. Devices moved around all the time should be cheap and carry an extended warranty (all ours have died every 3-4 years).
Devices that are not moved around frequently,AND dont use the internet or intensive programs (such as just doing email word processing/spreadsheet) can work just fine for 10+ years
btuttle
Senior Member
posted: Nov. 7, 2009 @ 12:18a
Be frugal not cheap. Buy on value not cost.
By quality items that you will use often and for a long time. Buy inexpensive items that are throwaway or used infrequently.
Even though you really are not investing in depreciating items. you are benefitting by their longevity.
There is always a price performance curve. The most expensive model in a base brand is just bad a buy as the least expensive model in a luxury brand.
The only caveat to this is where you or your spouse like to change the item because the "style" changed or you/them need the latest gee whiz bling/gaget/whatever. In which case your not frugal anyway.
TxAggieJen said: 2. Buying a better laptop if you are going to buy one. Choose a laptop with as much RAM, processor speed and disk space that you can afford. It won't reach it's end-of-life as fast as a cheap piece of junk laptop with barely enough memory to run Windows, and you'll be a lot happier.
I beg to differ. Does everyone NEED everything that expensive laptops have these days?
The majority of laptops that you see most likely have 2GB of RAM and 160GB of HD space at the very least, even for the $300 WalMart specials (or even netbooks!) And I don't think most people even need a dual-core processor.
Barely enough memory to run Windows? What are you talking about? Back in the day, my high school ran Windows XP on old POS Pentium-II machines with *64 MEGABYTES* of RAM. The solution is: run XP or (if you so desire) a good flavor of Linux, and you will be totally fine. (Windows 7 might be fine too, but I'm not sure how resource-intensive it is.)
The majority of people will be fine with almost any entry-level laptop on the market these days, and a dual-core CPU thrown in for good measure (the only application I can think of would be video-intensive apps down the road). And rather than "investing" an extra $100-200+ in your computer now, you can put it towards HD/RAM upgrades (when you need them and they get cheaper) or a new one a couple of years down the road.
If you're a gamer, I would reconsider getting a laptop to begin with, as you'll likely find yourself wanting to "upgrade" (read: buy a new one) every year or two. Do what I did, and buy a fairly inexpensive laptop for schoolwork/internet, and use your desktop for gaming.
Only good reason to put $$$ into a laptop is either for quality/durability, or if you NEED the extra memory/space/cpu speed/etc. Ironically I splurged on a Macbook (well, at least compared to cheapo laptop standards) because I really like the Mac OS, it'll last a good while (better build quality; I move my laptop around a lot), and that I can use my desktop PC (cheap parts/upgrades) for anything intensive that the Macbook couldn't handle.
Going to a dentist, keep your dental health in good condition. It does cost now..dentist aren't cheap but it will save you money in the long run. Waiting on a filling can lead to a root canal or cap, which is mega bucks compared to a filling.
Making sure you have adequate insurance on home and car.
I think your best bet is to figure out what matters to you, figure out what your saving goals are, meet those savings goals, and then spend money on the things that matter to you.
I like cars, so I am willing to spend more than I need just for transportation. Same thing with electronics. I go cheap in other areas of my life where I don't care as much about - not eating out, cheap clothing, furniture, not traveling, ect.
I agree that you can still be frugal when purchasing higher end/high quality items that last longer. I, as most here, rarely pay full price for anything. Also, a large part of the equation is properly caring for whatever you purchase... no matter how high/low the quality or how much/little you paid for it.
Cookware (e.g., All-Clad pots and pans, cast iron anything, Chantal tea kettle, KitchenAid mixer, Wustoff knives)... you'll be passing this stuff down to your grandkids and it'll still look great.
Batteries (use high quality rechargeable only... e.g., Eneloops)
Coach brand leather items (brief cases, belts, wallets, purses, etc... seem to last forever and day, you'll probably get tired of looking at them before they wear out)
Watches (I'm not an aficionado watch brands, but I bought 2 Coach watches for ~$100 a piece 10 years ago. They still look perfect and run like new. Haven't bought a watch since and only have to spend a few dollars to replace the batteries, which I replace myself, every 4 years or so... )
Bath towels that don't fall apart. Also use kitchen towels instead of paper towels to save a bundle (you can get packs of 30+ for under 50 cents each at wharehouse clubs).
Take proper care of your clothes: use a front loading washer, no harsh detergents, wash at the coolest temperature possible, dry on lowest temperature or hang dry. Even less expensive clothing will stay cleaner/last longer.
As far as laptops, I hate to say it 'cause I know I'll get tons of red, but buy Apple. I'm still using 3 laptops from 1999 and 2000 (typing on the latter using a wireless internet connection as we speak).
Don't wear shoes in your house - your carpets will last longer
That's all that comes to mind for now without repeating what was said above... I try to think of some more. Good topic OP.
I'll second the "buy good bath towels" although we don't, the only time we did .. plush ones from POLO. They are still being used over 10 years later. Plus i think we gottem on sale also.
Man that works out to killer amount of use and they still work fine. (warning not for guests as they are not as soft as the old days but good enough for me & her)
But by buying a more expensive car, you increase your insurance premiums if you need to take a loan and/or need more thab liability insurance to protect your more expensive beater.
The likelihood of getting into some kind of accident is unfortunately high, so buying cheap as hell beaters may save even more.
Look for things with a good lifetime guarantee. One example I have is the Jansport backpack I had as an undergrad in college. Had to replace it about 10 years later, after heavy use. For free. Now, getting PhD, and the second one is starting to have some issues. When it is time, it will be replaced. For free.
biomedeng
Senior Member
posted: Nov. 7, 2009 @ 1:03p
owenscott said: I'll second the "buy good bath towels" although we don't, the only time we did .. plush ones from POLO. They are still being used over 10 years later. Plus i think we gottem on sale also. I'll third this. We have had good luck with the wamsutta hotel towels (you can get them at bed bath and beyond). We bought white towels so that we can bleach them and they always look good.
iamameatpopsicle
Member
posted: Nov. 7, 2009 @ 1:27p
$50 bucks on a waterpik dental water jet to clean your teeth. My dentist is really happy with my teeth since I started using waterpik.
1. Quality computer chair. I've broken enough of the $30 Black Friday office chairs, and I'm only 190 lbs. 2. Geothermal ground-source heat pump. This saves 50% on energy compared to traditional air-source heat pumps, and pays for itself in 7-10 years. This option does not work for most people due to property constraints. A gas based furnace will save money over an electric furnace. 3. Proper ceiling insulation and attic ventilation. This will cut heating and cooling bills, while prolonging the life of an asphalt based roof. 4. DVR. Given that time = money, watching commercials gets expensive, especially if you buy the products. 5. Gym membership. I have debilitating back problems, but they go away completely when I exercise. I paid $600 upfront for a 3 year membership, with a lifetime $100/yr renewal rate. Granted, you don't need a gym to stay in shape. 6. Laser eye surgery. No more prescription glasses. 7. Consumer Reports type information. Being an informed buyer will save you money. 8. Hybrid cars? 9. Surveillance/alarm/dog. With all the break-ins, robbery, hit and runs, and garbage dumping that has happened at my place, a surveillance system would have paid for itself.
I disagree with extended warranties for electronics, buying the most expensive computer you can afford, and buying a Mac. These are all going to cost more money in the long run unless your time is extremely valuable.
Fbone said: I'm debating if I should spring for the 96% efficiency boiler or the 85% one.85%, hands down. I went through this recently, and went with an 82%. Part of the higher efficiency is less heat loss through the chimney. As a consequence of lower exhaust temperature, you will have more condensation hence potentially higher wear and tear on your chimney. Besides, the control unit of the 96% boiler is so much more complicated when it breaks the cost of repair will be much higher.
Another part of the higher efficiency is less heat loss to the ambient. But I don't mind the boiler heating up the basement a bit. In fact, I count on it to do some of that.
biomedeng said: owenscott said: I'll second the "buy good bath towels" although we don't, the only time we did .. plush ones from POLO. They are still being used over 10 years later. Plus i think we gottem on sale also. I'll third this. We have had good luck with the wamsutta hotel towels (you can get them at bed bath and beyond). We bought white towels so that we can bleach them and they always look good.
If you buy tools buy a decent tools (Bosch, Dewalt, Makita etc.) not a Ryobi one's. Good meter saw can last you 6 plus years. Good drill can last you 6+ years. 50 dollar drill can die on you any moment.
If you're going to make a luxury purchase on something electronic (like an HDTV), get the biggest baddest model you can afford. That way you're not itching to upgrade 4-6 months down the road.
SUCKISSTAPLES said: Using an attorney BEFORE you have a problem rather than after you have a problem
Soooo true!
Skipping 113 Messages...
sethdallob
Senior Member - 1K
posted: Jan. 9, 2010 @ 10:38p
ElectricSavant said: Pay the car insurance once or twice a year. Yes. But is that an expensive thing that saves money in the long run? No.
ElectricSavant said: Shop at Costco Yes.
ElectricSavant said: Buy the in-store warranty on the office chair and laptop/notebook NO NO NO.
ElectricSavant said: Get rid of the impound account on your mortgage How does this save money - the only cost is the lost interest that money could have earned, which is next to nothing.
ElectricSavant said: Buy supreme instead of unleaded. NO NO NO.
ElectricSavant said: Buy the Entertainment book. YMMV. Too much wasted time on closed restaurants and changes of ownership to make it really worthwhile. Eating home is always cheaper.
ElectricSavant said: Buy some name brands over generic. ?
ElectricSavant said: When purchasing concrete get the micro-fiber additive. ???
ElectricSavant said: When purchasing online "factor-in" the return policy, sometimes better to pay slighty more. Depends on the item being purchased.
ElectricSavant said: Consider volume discounts. That sounds like a fortune cookie.
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