Frugal or Cheap? – When To Spend The Extra Money

November 8, 2007 · Filed Under · 4 Comments 

On the heels of my website hosting debacle, I have been giving some thought to things in my life that are worth spending a little extra money on in order to save money and time in the long run. As a Dad to 3 young kids ranging from 6 years old to 5 months, time is a very precious commodity in my life. For example, despite my attractive plumber’s crack, I would rather spend a little extra money on a kitchen faucet if I knew it was well made and would not need to be replaced in 6 months. For me, that extra investment often insures that I will not have my head buried under the sink with a pipe wrench for a long time, which frees up more quality time with my family and friends. I know that some would disagree and take the approach that they will spend the least amount possible on their faucet and press their luck that it will last. Heck, I use to be like that, but I have learned over the years that sometimes the extra investment is a better frugal move. Here are some personal examples:

  • Website Hosting. This wound is the freshest. By spending about 30% more per month, I was amazed at the increase in customer service. I can actually call customer service and talk to a real person every time! I know this is going to save me a lot of time and headache in the long run.
  • Home Maintenance. I have learned that putting off home maintenance might seem like a money-saver but it is actually a very expensive mistake. Provide basic maintenance to air conditioning unit, furnace, roofing, major appliances, and driveway, to name a few. I learned this the hard way recently with our asphalt driveway, I kept putting it off, thinking I could get a few more months out of it before re-sealing. That thinking finally caught up with me and my pocket book! I had a bunch of cracks in the driveway and a job that would have cost $400 ended up being over $550.
  • Furniture. Cheap furniture is typically just that. Disposable. Don’t expect it to last, especially if you have kids. If you want your furniture to last, you will have to either spend more for it, or get a deal on older, used furniture. Typically, if it takes more than 2 people to carry it, because it is so heavy, it is quality. My wife and I have had older furniture from her Grandmother reupholstered because it is just so well made. On dressers and cabinets, look for solid wood drawers and heavy duty hardware as a sign of something that will last. You can often get deals at garage sales, thrift stores, and estate sales on well made used wood furniture that you can re-finish yourself.
  • Household Appliances. I know my wife wishes she had spent the extra money on her new Rowenta Iron a long time ago rather than fighting her old iron. This is where doing your research becomes so valuable. The Internet is a great source of product reviews and can easily point you to the best buys that people recommend. I love the product reviews at Amazon.com, and will often check them before I make a purchase.

I know there are many more examples of times where it does not pay to be cheap. Help me out with some and leave me a comment!

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4 Responses to “Frugal or Cheap? – When To Spend The Extra Money”

  1. SavingDiva on November 8th, 2007 6:42 am

    The things that I choose to spend more for seem so minor in comparison to your list. Except for my health, my other splurge areas are pretty superficial. My company offers a discount to a gym, but I don’t like the gym and find it pretty depressing. I spend about $10/month in gym memberships to belong to a gym that I love to go to and has everything that I want. I also spent about $150 for 3 months of tennis classes over the summer. It improved my game, and I spend 3 hours a week running and playing hard….Plus, I had a blast!

    I also splurge on foundation (skin match is important), running shoes (I want to protect my knees), socks (blisters are not fun), and sports bras (I’m very picky). Compared to your time with the family argument, my priorities are pretty shallow!

  2. Kyle on November 8th, 2007 7:20 am

    SavingDiva, not shallow at all! You bring up some great points on when it is better to spend a little extra. Life is to short! And $10 for a gym membership is a BARGAIN! I was paying 3 times that before I dropped it a few years ago.

  3. Peggy on November 9th, 2007 1:01 am

    Hey baby… don’t you know… CRACK KILLS!!! lol All joking aside, these were all good and valid points, I just had to poke a little fun at your plumber problem… sounds personal to me, and no, I guess I won’t poke it. lol

  4. Kyle on November 9th, 2007 7:33 am

    Peggy, LOL…..gotta love plumber jokes! Reminds me of the plumber who once said “Every time you flush your toilet you’re putting food in my family’s mouth.”

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