In trying financial times, it’s understandable why many people may want to skimp on most purchases. It makes sense, on one level, as it can help stretch your budget further and alleviate stress. Unfortunately, in some instances you may derail your efforts as there is little quality in low-cost options. As a result, it may actually save you money in the long run by purchasing the more expensive option. These are 11 items that aren’t worth skimping on when considering a purchase.
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Toilet Paper
Do yourself and your wallet a favor and buy the good toilet paper. Honestly, a dollar or two isn’t going to break the bank. The pricier brands are softer, there is more on the roll, and you can use less of it, so it actually either saves you money or balances out to even.
Household Cleaners
There are plenty of generic household cleaners on the market, but are you really saving anything if you have to use twice the amount of product to get it clean?
You would be better off waiting for sales, using coupons, or waiting for a BOGO sale to get the good stuff.
Trash Bags
While the less expensive trash bags may be tempting, take a moment and consider what your time is worth and if you really want to spend it cleaning up the mess when a cheap trash bag breaks.
Do yourself a favor and stick with the good quality trash bags.
Mattresses
The less expensive mattress may look a lot like the higher quality one, but there are differences inside that you can’t see. These differences will lead to a better night’s sleep, less back pain, and a longer lifespan for the mattress.
This is not a purchase to skimp on.
Kitchen Knives
You may be tempted to cheap out and buy the more affordable knives for your kitchen. If you use them a lot you may think you’re stretching your budget by going the low-cost route.
Unfortunately, dull kitchen knives pose a danger to you. They’re less stable than sharper knives, posing a risk to you. And, cheaper knives often simply don’t hold up over time. No matter how you cut it, cheap kitchen knives often aren’t worth the savings.
Health Insurance
Everyone knows that health insurance is costly, but not having quality coverage can be even more so. Search for the best plan for you and your family. This is not an area of your life where it pays to pinch pennies.
Shoes
Good, comfortable quality shoes are a necessity. You can buy the less expensive pair, but they won’t last as long, your feet will hurt, and you may develop back pain.
Plus, are you really saving anything if you keep having to replace them?
Pet Food
It’s important to provide your pet with the highest quality food that you can with the least amount of fillers. The better you can feed them, the less likely they are to develop health problems down the road.
A great way to save on pet food is through loyalty programs at your pet store.
Paint
Unless you enjoy painting your home every year or two, buy the more expensive interior and exterior paints. They cover better, so you will use less of it. Plus, they hold up a lot better over time.
A few dollars more upfront can save you down the road.
Dish Washing Liquid
This is another product that you really shouldn’t skimp on because you are just going to wind up needing to use more. Buy a good quality dish soap, and you’ll only need a few drops to wash a whole sink full of dishes.
Paper Towels
When you need a paper towel to clean up spills, you want it to work without having to use the whole roll. Unfortunately, that may be exactly what happens if you skimp on your paper towel purchases.
You’ll save more money in the long run by buying the good ones.
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I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.
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