14 Times Spending Less Can Cost You More

We are all trying to stretch our dollars, but there are times when spending a little extra can actually save you money. Many super-cheap items just won’t last as long, or won’t even work at all. So for the person who has a hard time parting from every penny, here are 14 times when opening your wallet is the right move.

Key takeaways

Take control of your money, optimize your spending and grow your savings automatically

• Your body, health, and safety are never the place to cut corners – cosmetic procedures, eye surgery, and safety gear included.
• Everyday tools you use constantly (keyboard, chair, shoes, knives) pay for themselves in comfort and durability.
• Sleep quality has an outsized effect on your health and performance – a good bed is worth the investment.
• Professional advice, quality paint, and good cameras all save money or regret down the line.

14 Times It Pays to Spend a Little More

Cheapest isn’t always best. Here are 14 things worth paying more for.

1. Cosmetic surgery

Medical tourism is on the rise. The promise of comparable quality in Mexico or India can seem alluring, but before you book the ticket, there are several things to consider. The first is that you only have one body, so if you really do plan some major adjustments, you want to be sure that they will be done right. When done right, the results can be exactly what you hoped for and quite low risk. If done wrong, you could end up paying for it for the rest of your life in multiple high-cost repair surgeries or even worse.

2. Laser eye surgery

It is no coincidence that the top two items are about your body. Your eyes are your most important sense. Protect them. If you can’t afford to get the best technology available, you are better off waiting than getting blinded by a great deal.

3. Tattoos

A well placed tattoo can be a work of art. But a poorly done tattoo can leave you scarred for life. If you want to have something to remember for the rest of your life, you are better off not making it a symbol of when you cheaped out after a few too many drinks.

4. Keyboard

If you spend all day working on your computer, make it a good experience by spending that extra $20 on a really nice keyboard.

5. Work/study chair

Work should support your life. If you are going to sit in a chair all day, you want to be sure that you can stand up and enjoy life afterward. You likely spent $200,000 on your home or office, why not spend an extra $200 for the place you will spend one-third of your day?

6. Professional advice

Sure, you can look up tricks to save money every month for free online, but when it comes to professional medical, legal or financial advice, you should pay an experienced professional. Our guide on what a financial advisor actually does breaks down when the cost is worth it – there’s no way to learn enough on your own to match their experience.

7. Running shoes

Forrest Gump may not have been a smart man, but even he knew the importance of using good shoes. If you are in a profession that requires you to be on your feet a lot, this is more important than your office chair. That is not to say you need to spend $200 on your shoes, but you definitely need to spend more than $10 at Walmart.

8. Bed

Considering you spend (or should spend) one third of your life in a bed, this is one area you shouldn’t feel guilty spending a little extra money on. Getting a poor night’s sleep is linked to weight gain, hypertension, irritability, memory issues, lack of coordination, hair loss, and vision problems. So don’t skimp on a good bed, comforter, and great pillows. A very comfortable mattress won’t cost more than $1500, and considering it will come with a 25 year guarantee, that works out to less than 15 cents per day! Nothing else you invest that little money in will have a more positive impact on your performance and your life.

9. Good camera

If you are willing to spend money to see beautiful places, you might as well spend a little extra to remember them. You can get a decent camera for $100, and an amazing one for $500. That little investment can mean the difference between sharing your pictures and simply saving them in a folder you never look at again.

10. Safety equipment

Safety has become one of the highest priorities in recent years. Spending the money to actually protect your eyes, hands, head and children is worth it. If you can’t afford to do a job safely, you can’t afford to risk doing it at all. Spend the money on goggles, gloves, helmets and child seats.

11. Kitchen knives

A sharp knife is faster, cleaner and safer. And a good knife is not that much more than a cheap one. Even an extra $30 can save your back and your fingers.

12. Paint

If you are going to go through the trouble of painting, you might as well do it right. Good paint means the difference between having to go through it all again in a year or a decade.

13. Alcohol

This is one of those areas where you can easily go overboard. But most people can’t tell the difference between a $10 or $100 bottle of wine. They can, however, tell if it came from a carton. So, unless your only goal is to drink enough to forget what you drank, spend that little extra on a micro-brewed beer or bottle of wine that doesn’t have a giraffe on the label.

14. Condoms

The average cost of raising a child in America now runs $300,000 or more through age 18 – see the true cost of a baby for the full first-year breakdown. It doesn’t matter what risk calculator you’re using – this is not worth a potential break. Go to the store, buy the box, and check the expiry.

The Bottom Line

Being cheap and being frugal aren’t the same thing. Frugal people spend money where it counts and cut back where it doesn’t – that’s the difference between saving money and just losing it more slowly. Setting a real savings goal for the bigger-ticket items on this list (the bed, the camera) makes it easier to justify spending more when the time comes.