A Frugal Mindset – 4

Leave a comment

Number 4 in the frugal series appears to be at odds with frugality until you think it through.  It is all about quality and this is something I regularly take into account.  I find that in many instances, paying a bit more for a quality item does reap rewards in the long-term.  This applies to appliances, equipment, clothing and a range of other things.

4. Frugal people are not afraid to spend more on big expenses if it saves them money in the long run. This one may seem counterintuitive  to the point I just made above, about how frugal people are known as penny pinchers. But truly frugal people, as opposed to just tightwads, know when it is the time to pinch your pennies and the time you need to pull out your wallet and spend a bit more upfront to save money in the long run. An example of this is choosing a more reliable, slightly more expensive brand of lawn equipment. Ultimately this machinery will, statistically speaking, last longer and cost less in repair costs, making it better to plunk down a few extra dollars up front to reap the savings long-term.

Question to ask yourself: Don’t just ask yourself, when making a purchase, how much does this cost me now? Instead, also have follow up questions which include how long do I want or need this to last, and how much can I afford in repairs or maintenance?

It is all about quality and this is something I regularly take into account.  I find that in many instances, paying a bit more for a quality item does reap rewards in the long-term.  This applies to appliances, equipment, clothing and a range of other things.

Here is an example:  This Canterbury rugby top was bought in 1999 and has been worn every year since.  It is a favourite and gets plenty of wear.  I noticed today that the collar is beginning to show signs of wear so I will either turn the collar or replace it.  The colour has faded somewhat and the is a small area which I mended many years ago just below the logo.  None of that stops me wearing this top which has lasted much longer (and will continue for years yet) than cheaper ones.

I am also aware of the environmental cost of constantly replacing cheap items and would prefer to buy something that is going to have a longer useful life and consequently a smaller environmental footprint.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s