RSS Subscribe Spend Lots of Money
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- posted at 06:43PM
- July , 8, 2009
- by: Dave Munson
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Spend
Lots of Money
Financial
Advice from a Tightwad
Being cheap is expensive when it
comes to buying everyday use items. Folks throw 1000's of dollars down
the drain in the name of frugality (being a tightwad). I'm guilty of this
myself, but am learning. The list of some of those items below may help
clarify.
They say that repetition is the
mother of all learning. It's true, repetition IS the mother of all
learning. Hey, someone send that one to the Department of
Redundancy Department. Hopefully, if you're one of those people who still
doesn’t get it, the following will help it sink in.
The Story:
I used to be a waiter. Loved
that job, but that’s irrelevant. When I started, they told me that I
needed to wear a white shirt, black pants and black shoes. So out went a
broke college student, shopping.
So, the shoe salesman asked me, “How
much money are you looking to spend?” I told him $50 and, in no time, had a
number of $50 size 14 shoes laying at my feet. After being disappointed by all
of them, the salesman said, “I’d have you try on those $90 shoes over there,
but since you can’t afford them, you’d better not”.
Well with the help of my friend
Visa, I wore those extremely well made, light, comfortable and durable $90
shoes for the next two years while the other waiters bought a new pair of
cheap $50 heavy and uncomfortable shoes every 6 months. In 2 years, I
spent a total of $90 and they spent $200 on shoes that wore out and
looked dumpy in no time. I even wore mine for another year as a limo
driver.
Moral of the story: Buy the best, cry once.
· Are
you a rancher in New Mexico? Spend $300 on a good waterproof hat that
breathes well and doesn’t lose its form. 
· Are
you a chef? Buy a knife that’s made
of such hard metal that it keeps a razor edge for a very long time before it
needs to be sharpened.
· Do
you sleep? If you’re not Chuck Bowen, you spend 1/3 of your life on
a mattress. What would daily solid uninterrupted sleep and more of it, do for
you for the next 40 years? You do the math.
15 extra minutes X 365 days X 40 years?
· Are
you a surfboard rental guy on a sandy beach? If you are, ignore this
one. If you’re not, invest in some good shoes.
· Do
you sit all day in an office chair? Invest in a really nice one (full
grain leather with expensive high density foam and metal coasters) and watch how
your life changes.
· Do
you spend a lot of time in the snow? Invest in nice gloves and boots. You
can always put on more layers of clothes, but if your hands and feet are cold, it
just plain stinks.
· Do
you deal with clients and carry a leather briefcase? It’s expensive
to be cheap and you’ll appear just that.
Whatever it is that you use everyday
or quite a lot, don't skimp on it. Buy the best. It'll last longer,
look nicer, perform better and pretty much make your life a little more
pleasurable. Don't be cheap; it’s too expensive and life's too
short. And...you'll save money in the long run.
Customer Comments
James
07/15/2009 12:22 PM CDT
Worthy of Proverb inclusion! Come to think of it I am sure there is one in the Book that states something similar...
The same week I got my bag from you folks, I also got a new long awaited Rawlings glove to play catch with our 9 yr old Daughter. Am looking forward to breaking both the bag and the glove in together... the girl...she can toss a real good palm burner and smack that ball pretty darn far...
(she also said, "Hey Dad, that's a really nice bag..." And I'm thinking, "Yeah, you and your sister can wait for a long time before you get your hands on it...well the winner will anyway...")
Phil Szanto
07/15/2009 06:52 PM CDT
So so true!
Scott
07/19/2009 05:35 PM CDT
Dave, I must ask: where did you get that coat in your photo?
William Walla
08/15/2009 08:46 AM CDT
Well, I must admit that this hits very close to home but I sometimes forget just how important these words are. In this age of get it now, immediate pleasure and cheap items from overseas it is difficult to wait and purchase the best. Here is my short story:
Way back in 1990 I was an Industrial Engine Mechanic. I drove around and worked on VERY LARGE engines. Some were 15' tall and 30' long and weighed 50,000 pounds. These were not small devices and because of this we drove to where they were and worked on them at that location.
The company I worked for moved me from Houston, Texas to a little place called Farmington, New Mexico. It is in the 4 Corners area around where Colorado, Utah, Arizona and New Mexico all meet. I left Houston on February 26th and the temp was around 50 degrees and arrived in Farmington to -10* and snow EVERYWHERE.
Well, things went well and I was getting the hang of driving in the snow and generally doing ok. The biggest problem was my feet. I had a plain pair of cheap boots that were fine in Houston but no matter how many socks I put on my feet were always cold. So I went to look at good boots.
At the local mall I found the perfect leather insulated boots - water proof, insulated, well made and almost $100. WOW, I didn't have that much at the time so I passed and went home.
After another week of having cold feet and a miserable time I went back and bought the boots. They fit great and, other than the price, seemed to be exactly what I needed.
The NEXT DAY I was working on location. I had not thought about my feet all day so I looked down. To my surprise I was standing in slush. What was going on, I had not felt them all day? Was frostbite setting in? I looked down again and confirmed that I was standing in a watery/slushy mixture of ice, snow and really cold water. I moved my toes and found them to be warm.....WHAT, this must be a joke! How can this be? All I did was buy new shoes.
Ah, it all started to make sense. They were waterproof, insulated, thick and fit. They were the perfect item that I needed in that location at that time.
It was the best $100 I had ever spent.
I hope the money I just spent on my briefcase is the subject of my future tales to friends and family like the boots are.
Thanks for making a great product at a good price.
William
bob
08/29/2009 05:24 PM CDT
I completely agree about the idea of spending the money on something good now rather than shell out more money later.
Per your shoe example, I tried to get away with cheap sneakers that didn't fit as well as the more expensive ones, and I developed plantar fasciitis. Several months and doctor co-pays later, I realized it was worth spending the extra money on good running shoes (and changing them frequently).
The office chair is another good one. If you work at a place that has cheap, crappy office furniture, buy yourself a good chair even if your boss won't. Your back will thank you in 30 years. Same goes for a good monitor... if you have to shell out your own cash for a good monitor and save your eyes, do it.
We all want to save money, but pick your battles. When you need something (not want) that you know you'll use often, but the best; if you can't afford it yet, budget for it and buy it when you've saved enough for it. Even if it's not something you need but want (e.g., a new guitar), wait until you can afford the best - if you budget for it, it'll be that much sweeter when you can afford it (and you'll appreciate it more).
Dale L. Newby
09/03/2009 09:57 PM CDT
I think we all have a story of trying to pinch pennies, but nothing beats the lesson my sister and my mom learned about buying cheap used tires for the old family clunker at the time. After changing over fifteen flats in about a month and a half while we men in the family were at work or in my case was living in Texas at the time and they were here in Oklahoma, mom went and shelled out the money for a full set of new high quality tires. I have kept good rubber on my pick up, good shoes on my feet, and now I will keep good leather slung over my shoulder. It's just good sense. It's like when I was a carpenter and I had clients who didn't want to spend the money to repair or remodel something properly, I simply told them that it's either spend it now all at once, or spend it little at a time and with MUCH aggravation later. Some got it, but some never did. PEACE and God bless.
Dale
Matt
09/04/2009 10:02 PM CDT
I am just a poor grad student who really wants a chestnut messenger bag, but cannot afford it haha. But they look really, really nice. Congrats on a great product.
Dale L. Newby
09/10/2009 10:13 AM CDT
I just got my new bag yesterday!! Your pictures simply don't do these gems justice!! This is the bag I have been searching for, and I know it will be a worth while investment. Thanks to Dave's Deals, I was able to acquire it a bit more easily. THANKS!! PEACE and God bless.
Dale
Mike
10/02/2009 07:32 PM CDT
Glad to see such intelligence! I work for a malting company in Wisconsin as a maintenance mechanic. Talk about tightwads- managers are the worst penny pinchers. They try to save money, and make themselves look good.
As a mechanic, I see a lot of things break, and I'll tell you what- it's the same stuff everyday. If they spent the $5.00 it costs for a hardened bolt, instead of grade 5 bolts that cost a buck, maybe a little more, they could easily save $10.00 a month, per bolt. And you can imagine how many bolts we have at the factory.
Want to look good as a manager? Insist in quality, not quantity.
Dennis Taylor
10/29/2009 02:12 PM CDT
This is true. Buy the best, cry once.
Speaking of this post, when can we expect the following to be offered by Saddleback?:
1. A nice Leather hat, that doesn't lose shape
2. A nice, comfortable, Full-Grain Leather Chair
3. A Nice pair of leather shoes (sandals, or boots anyone?)
Just asking! :)
God Bless you all!
Dennis
ipod accessories
11/06/2009 09:42 PM CST
I agree to you. Shedding a little more penny to get a product that lasts longer is better than buying a cheap product that does not last longer.
Stephen Adams
01/13/2010 09:18 AM CST
One of the best pieces of advice I've ever received was this: "Don't be afraid to buy the best, because you'll always be satisfied."
Or, in the words of my very wise grandfather, "It doesn't cost that much more to go first class."
Andy
04/16/2010 01:05 PM CDT
Reading this brings up memories of my dad telling me not to be "penny wise and dollar stupid."
Ahh the wisdom that fathers impart on sons, which is usually promptly ignored.
Chris
05/27/2010 03:58 PM CDT
Just pay for the Plumber! Life can be so much Simpler.
Ray
06/09/2010 12:56 AM CDT
This reminds me of the saying "Measure twice, cut once."
So do it right the first time and the benefits will return in folds.
I never thought I'ld pay a pretty penny for a wallet. Once I did, it was the last wallet I bought. The extra cost was well worth it.
I'm not a customer yet, but plan to get a couple of things soon. I love the site, products, and overall attitude.
Make Money in Minutes
07/19/2010 04:08 PM CDT
This is the bag I have been searching for, and I know it will be a worth while investment.
Wealthy Affiliate Alumni
07/25/2010 05:33 PM CDT
As a fellow tight wad, I found many of your points extremely valid! I agree with pretty much anything and it's very funny how alike we are!
Candace Roberts
07/28/2010 10:13 AM CDT
Buy the best, cry once! Sounds funny but true indeed!
Thanks for sharing. It's an eye-opener.