This is one of the best money tips that I could steal and share. This is not an original idea of my own, although I’ve heard it shared by many other reputable sources and practice it as often as I can. Simply put, always choose quality.
If we spend a little more money on quality items we regularly use, we’ll spend less money replacing them when they do become worn out, which equates to more money saved in the long run. Best example: clothes.
It seems like fast fashion is everywhere now. Cute trendy clothes for pennies on the dollars made cheaply and quickly. So let’s say we buy a new top every three months because it’s only $5.99. But because it’s only $5.99, it’s not made with the best materials, so after a few washes and wears, it’s already ready for retirement. So, every 3 months, we’re replacing this particular top. That comes out to $23.96 plus tax every year.
Tax in L.A. is 9.25%, as an FYI.
Or you can buy a really nice top between $25-$30 that you may have to replace every 3 or 4 years. Which means in the four years we would’ve kept that really nice top, we’ve spent 3 times as much on really cheap tops. So, not only is the quality inferior, we wasted more money on it.
I may not be wealthy, but I know that’s not how we get there.