How Cutting Corners Can Put You In A Bad Shape [5 min. read]
You have 3 paths. One leads nowhere, The other one leads nowhere but with immediate satisfaction, The last path leads you to the promised land with long term satisfaction but you have to overcome some obstacles. Which path would you travel on? Take a moment to answer this question for yourself...
These different paths are the approaches taken by people in managing their finances and consumer purchasing decisions. See, the 1st path is not purchasing anything, the 2nd path is being cheap, the 3rd path is purchasing expensive items. The scenario I used relates to traveling to illustrate the cost of being cheap and the cost of purchasing high ticket items over time. The silent Ally or the silent Enemy in these situations is TIME. In this short article, I will explain how 'Cheap is Expensive' by highlighting the COST over TIME.
" Quality Over Quantity "
We all have the same 24 hours but what you ultimately do with your time is the grandiose factor in your results. You might have heard people say, "That Is Too Expensive", "I Can't Afford That", "Why Are Charging So Much ?", "Do You Have Anything Cheaper ?". I understand and I am sympathetic to this reasoning, but I am here to show you a better way. We are in an age where people are easily offended and I assure you I am not trying to offend coupon cutters. Let's get right into it, shall we? Cheap items are cheap because they are made with bad quality, they're a temporary solution to a big problem. This means it doesn't solve your problems it just soothes things over giving you a temporary false sense of relief. Don't you love being relieved? Woo! It feels amazing, for a minute imagine yourself in a spa... being fed grapes.. getting a foot massage. Two extremely attractive genders of your choice are half-dressed, fanning you with everglade leaves. All is well and you can't help but smile ear to ear until .. you smell a faint smell of smoke. You look around, you look left.. you look right and quickly you realize THE BUILDING IS ON FIRE! The serene oasis that you once believed to be heaven is, unfortunately, is its counterpart. Now you have to run to catch up on lost time that you would've had, had you suspected the fire when it first started. This is a visual scenario illustrating the dangers of using cheap measures to solve your problems, the spa is the relief you get until that cheap item breaks.
Now we get to the result of buying on the cheap. Cheap items break easily or wither away from continued use, causing you to purchase it again and again and again... and again. By the fifth time you purchase the same item, you'll realize that you could've avoided this repetitive process by purchasing the quality item that lasts. Cheap items lack durability and sustainability, and the cost builds up over time and continues to exceed the cost of the pricey item at least x4 over. Some products that you may be wasting money on are cheap clothes, cheap shoes, cheap jewelry, cheap bags, cheap phones, cheap phone cases, cheap supplies, cheap cameras, cheap makeup, cheap cars, cheap locks, cheap security alarm systems, cheap firearms, and the most obvious dreadful option.. cheap tattoos. Cheap clothes rip, tear, don't fit and made from downright horrible fabrics. Cheap shoes rip, get worn down, break. Cheap jewelry turns your neck green or changes color. You get the point. How many of these items have you bought over time? How much money would you have saved from avoiding that residual cost over time? Don't tell me, I'll tell you, I saved a ton and if it works for me it'll work for you. This is how Cheap Is Expensive, once you factor in the cost of the cheap product that you've purchased continuously over time, you'll see how the cost of the cheap item is more expensive than it's price tag.
" Cheap Is Expensive "
Evaluate the importance of the products you use. Unlike clothes, shoes, and bags that serve a functional purpose and also denote a reputable social status; products like toilet paper, mops/brooms, and toys don't and have lower importance in the grand scheme of things. Certain items can be cheaply purchased because it is meant to be replaced. Well, I would hope people don't re-use toilet paper.... *shudders* Yeah let's not think about that. Anyway, paper plates and disposable cups aren't used for quality, they're used for convenience. Items used for convenience are the exception of price and can be lowballed. Convenience items are not used for quality except in some rare cases, in this case, if it's not feasible therefore it wouldn't make the most sense.
Expensive may have a moderate to high cost but it saves you time and money. Two of the most essential things in anybody's life, no one likes their time wasted, and no one likes losing money. A lot of people understand this and purchase expensive items as per the old adage, Quality Over Quantity, because it awards them an abundance of benefits. Such benefits that arent awarded from purchasing cheap items that break over time, expensive items LAST over time. The time allotted or the time horizon of such items make the items worth it. The money not spent on replacing the items keeps money in your pocket which is the goal ladies and gentlemen. This truth comes from an investor's mindset, Investors are willing to sacrifice money to receive a return on investment. That return on investment can be time, money or whatever else YOU are willing to invest. Yes, that's right. You are an investor whether you know it or not. Daily, Weekly, Monthly and Annually you sacrifice what you have to gain what you want. This is an exchange, better believe it, and in very few cases you'll get something for nothing.
You get what you pay for. Cheap is actually expensive and what seems Expensive is actually affordable!