Even a cheapskate has to spend money sometimes. I’ve asked various frugal folks—bloggers, writers, money-saving and consumer experts—to compile a list of the products, services, experiences, and other “things” they’re willing to shell out good money on. Because if a cheapskate is willing to drop cash on something, you know it’s worthwhile.
I’ve also asked people to name some of the things they refuse to spend money on, or that they buy based strictly on the cheapest price, because it’s also important to know when it’s OK—smart, even—to skimp out.
Up today, Peter and Jennifer Sander, authors of the practical, tip-heavy new book entitled 573 Ways to Save Money.
WORTH SPENDING GOOD MONEY ON
1. Running shoes (otherwise, won’t last and bad for your feet)
2. Tools (otherwise, will break, rust etc, no guarantee, can tell little about how its made w/o brand, hard to judge quality of metal)
3. Coffee (premium brands really taste better; the rest (including McDonalds) is just restaurant coffee)
4. Hotels (if you’re JUST looking for a place to sleep, maybe it doesn’t matter, but if you’re looking for a quality experience with service, brand is important.)
5. TV sets (never gone wrong buying a Sony, they last forever; too many unheard of brands out there)
WHEN CHEAP IS THE WAY TO GO
1. Laundry detergent
2. Non-prescription drugs
4. Car rental
5. Computer media/memory devices
This is the final installment (for now) of the “What Will a Cheapskate Spend Good Money On” series. Check out what other money-savvy people will spend money on (and when they say cheap is the way to go) here: