Get best value for your money

photo by jsf539

You save money by being frugal. You prioritize and pare down or eliminate your wasteful spending ways. But even in a recession, there are items that are well worth the money. Whether you’re frugal or not, you don’t want to make a cheap, low-quality purchase and then have to replace it or regret you bought it anytime soon. Everyone has different priorities, but aim to save money in the long run by identifying the best value for your money.

One reader, Lisa from the Great Lakes region, shares: “I try to research purchases ahead of time so that I can get the best quality-to-price ratio. Price isn’t the determining factor for me, as much as reliability ratings, costs to run and life span. And then comes price. Usually, items that are mid-range in price tend to be the best balance of price to quality. The cheapest things usually don’t have the power, features or reliability, and frequently the most expensive things are status-laden brand names, that really aren’t all that reliable and are expensive to repair.

It just depends on the individual make and model. My food processor is 25 years old, and still going strong. It was several hundred dollars new and has been worth every penny. Amortized over 25 years, that $400 investment doesn’t seem so high — only $16/year, as opposed to buying a cheap one at $50 and replacing it every couple of years.”

Here are a few items where you can save money by spending a little more.

VACUUM:A quality vacuum will last longer and perform better. This is something you use regularly, so don’t make your work frustrating. This doesn’t mean you have to finance a top-of-the-line vacuum system. If the choice is between a used, quality vacuum or a new, lower-quality, cheap vacuum, don’t buy the cheap one just to save money.

BACKPACKS/PURSES/SUITCASES: Quality bags last much longer. Don’t buy these items over and over when you don’t have to. Many have a warranty, too. You get what you pay for.

TOOLS: Make an investment in home, kitchen or garden tools or machines. Not only are many backed by warranty, but often, they can outlive you and be passed onto family or friends. Cheap tools make easy jobs harder. One example: Quality knives can be resharpened and cut food with ease. They make cooking more enjoyable and less laborious. Many people don’t realize the difference until they finally buy higher-quality knives.

HEALTH: Don’t cut back on nutritious food. Spending money on preventative care (healthy food, regular doctor visits, fitness, etc.) should be a priority. You want to be around to enjoy your savings. Also important is safety. Don’t skimp on car seats or helmets, for example.

SHOES/BOOTS: Quality shoes can be cleaned, polished and repaired, and can last much longer than their cheaply made counterparts. Owning a couple pairs of high-quality shoes is better than a dozen pair of cheaply made shoes. Your feet will thank you.

PAINTBRUSHES: If you’re going the do-it-yourself route, then don’t go cheap on your painting supplies. A quality brush will help give you faster and smoother results and the best coverage, and you won’t find the brush hairs stuck on your painting project later. You can get multiple uses from it, too. Don’t go cheap on rollers, either. Cheap rollers are messy, and can create bubbles and give uneven results.

Posted by Sara Noel on July 22 2009. Filed under Frugal & simple living.
Sara Noel owns Frugal Village, LLC and is a nationally syndicated columnist with Universal Uclick. Bio, Follow me on Twitter, Join us on Facebook