3 TIMES WHEN THE CHEAPER OPTION ISN’T THE BEST CHOICE
We all want to save money and one of the best ways to do that is to find cheap deals on the big purchases that you have to make. But saving money isn’t just about spending less, it’s about spending wisely. Sometimes, the cheaper option is best and you’ll save yourself a lot of money, but in some cases, it’s best to go for quality and pay a bit more for it. Sometimes, you get what you pay for and the cheap alternatives won’t hold up to the more expensive option, which means that you’ll be replacing things more often and spending more money in the long term. But other items are basically the same whether you buy the expensive brand or not, it’s just good marketing.
So, how do you tell the difference between the two? These are some of the items that you should spend more money on.
1. Cars
Most families rely heavily on their cars and when they breakdown, it can really throw a spanner in the works. It’s also going to cost you money in repairs and even if your insurance covers it, your costs will still go up next year because you made a claim. If the issue is too serious, you’ll be forced to buy a new car and that’s always a difficult financial hurdle to get past.
You might decide to make things easier by getting a cheap used car for £500, but there’s a reason that it’s so cheap. It may not last a month before the breakdowns start and then you’ll be back at the mechanic every five minutes getting it repaired until it breaks down completely and you start the whole process over again. Even though it might hurt your bank balance now, it’s best to spend a bit of money on a car that you know is reliable.
2. Furniture
Furniture gets a lot of wear and tear over the years, especially if you have kids, so it doesn’t always last that long. But there is a big difference in the quality of craftsmanship between cheap furniture and more expensive stuff. If you get some good quality Buoyant furniture, for example, you will spend a bit more but it will last you so much longer than the cheap alternative. If you have kids jumping around on your sofa, it needs to be built well to withstand it, or you’ll be replacing it every few years.
Related: 7 Simple Ways to Save Money on Furniture
3. Appliances
Buying cheap kitchen appliances is a bad idea as well, partly because they’re more likely to break, but mainly because they cost more to run. If you pay a bit more money, you can get ones with a better energy efficiency rating.
Cutting your energy bills is one of the best ways to lower your household costs and energy efficient appliances are one of the easiest ways to do that. You’ll make back the extra money that you spend pretty quickly and after that, you’ll be making big savings.
Sometimes, the cheaper option isn’t actually the best way to save money and it’s better to spend a bit more now so you can save a lot later.
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