You may have heard advice such as this: To save money one should not spend on expensive things. The money saved can actually go towards building your emergency fund and make you one step closer to your financial goals.
Well, let me tell you this is far from the truth.
This is my story.
Just about a few years ago, I was shopping for a vacuum cleaner. It so happened that a particular nameless vacuum cleaner was on sale. It costed about $100 and I thought it was quite cheap. Me being a man, we think all vacuum cleaners are the same.
The vacuum cleaner needed to be plugged into a power source, was heavy and had wheels to maneuver it around. Once you started it up, its motor made so much noise that it could have made you deaf if used for prolong periods of time. The suction head was not flexible at all and left obvious specks of dust in the corners of every room. After every vacuum session, my arms felt like I just carried dumbbells all around the house. Vacuuming became a chore. I would avoid vacuuming the house. Unfortunately (fortunately for me), after 6 months of using it, it broke and had to be replaced. At this moment, I knew which vacuum NOT to buy.
I was back in the same store 6 months ago. The same vacuum is still on sale. Instead of getting the cheaper goods, I went to the premium one. That was when I saw the Dyson vacuum. So I thought, and thought and thought. I was at the store for about 3 hours before I decided to buy it. Mind you it is a freaking $700 vacuum and I have no experience buying a vacuum at that price!
Came back home and opened the box. Just looking at it, I felt proud owning this vacuum cleaner. I tried it a few times. The feeling was different. It was light, the suction was strong and it worked like how I imagined a vacuum cleaner should perform. Vacuuming became easy again. And after 2 years, I am still using the same vacuum again.
What I am trying to say is that quality products come with a price. And some prices are worth paying for.
Quality items require lesser maintenance, and saves you money in the long run.
Quality items will last longer, hence, reduce wastage.
Quality items make work easier. Think about the built-in apps that come with your Apple computer.
That said, I don’t buy all items of premium prices. I only buy things of premium price which I categorize as necessary. I will categorize them by the high frequency of usage. Everyday things. For example, running shoes, clothing or knives.
However, you need to be very careful on categorizing the things that you think is necessary. You may not actually need it. Like a $10,000 bicycle that you only use twice a year.
Saving does not mean buying cheap and useless stuff. Spending can be so much fun when you buy high quality products.