Spending More Is Not Worth It – Three Examples

There is an ingrained belief that spending more will pay off. Unfortunately, there are instances when this is not the case. Many times, spending more may equal higher quality or a better result for your family. Today we are going to explore a couple of categories where this may NOT be true.

Brand New Cars or Recreational Values – Spending More Is Not Worth It

A newer (or new-ish) car is a very reasonable purchase for many people. When you are looking for a new vehicle, make sure to compare the price of the car new, a few years used and 5+ years old. This will tell you how the car is lasting on the market and how it holds its value. For quality vehicles, you will notice a BIG DROP from a new to a 2-years-old vehicle, but than much less of a drop from 2 years old to 5+ years old. You can get a lot of luxury for much less money if you are willing to let someone else drive the car for the first 30,000 miles! Same goes for your vacation vehicles.

High Quality Personal Care – Spending More Is Not Worth It

I love personal care (think lipstick, shampoo, salts and candles) as much (or more!) than the next person. However, there are only certain instances where this may pay off.  There is more where that came from in our next blog post. Shades of cosmetics and scents of shampoos are familiar and can be amazing. However, they may not be worth spending more.

Touted Vacation Resorts – Spending More Is Not Worth It

I recently decided I wanted to go to Iceland (I know, I know, a random dreamer.) I immediately looked up a resort I had seen on TV and became obsessed with going there. When that had a ridiculously expensive price tag, I looked up “places to stay in Iceland” – and found out that the (expensive) place I had been looking at was not nearly as nice as other (less touristy) spots in Iceland that were half the price. Hey, there IS such a thing as a vacation of a lifetime, but make sure you do it in a smart way that is worth your investment.

Our goal is that when you spend more, the payoff is worth it! Live a life you love…but when you can save and still experience joy, you should. Invest that money in life-long things that matter. A home, a college education and retirement savings never go out of style and are less likely to depreciate. Can I get a YES PLEASE?!