Friday, March 17, 2006

Buying on Value

I'm a good saver when it comes to money. I buy things on value - or what they are really worth. If I see a deal on an item, I ask myself, can I get it cheaper anywhere else?

The value of an item is it's fair price or how much it is worth if you sold it now. If you buy an item for $100 and can sell it for $80, you have lost $20. It is not about how much an item costs, it's about how much it is worth.

The people you call penny-pinchers and cheapskates are typically just cheap and do not buy on value. They buy the cheapest product to save money which can later end up costing them more (cheaply made so it breaks, no warranty / customer service support, etc.).

Don't be afraid to spend extra on an item or to buy nice things. I splurge every once in a while but I like nice things. Going to the bar and buying overpriced beer is not buying on value... or is it? You go out and have a good time, meet new people and strengthen bonds with friends. To me, this value is worth every penny even though you can't compute it on paper.

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