Along with the reigning Queen of Butter, the Crown Princess Auntie Em is a believer in real butter!
Not only real butter in the literal sense, but the figurative sense too: You should consider its intended use, and buy the best quality that you can afford. A mattress and your tires come to mind. You use them every day. Your back comfort and your very life depend on them, so don’t pinch pennies there! Mr X used to be a carpenter/contractor, and he taught me this principal that ties nicely into my “Be frugal” rule. Now at first sight, the idea of spending more money might not seem like a frugal thing to do, but Auntie Em says look at the whole picture, not just the price tag. In the case of Mr X, he was making our living with his tools. They had to be dependable and long-lasting, so it was smart to spend the extra money on heavy-duty tools for his everyday jobs.
When I cook, I want it to taste GOOD! Many times you can get good food for less money– store brand milk and canned veggies are normally just as good as name brand– but Velveeta and Little Debbie are the only brands I’ve been happy with for cheesy goodness and snacks, so no off-brand for me there!
For clothes, you can apply this principle by considering how much wear a garment is going to get. One of Sis’s friends said she gives it the $1 rule. She can buy a $50 pair of pants if she will wear them at least 50 times. (I’ve had black pants that I’ve worn at least that many times!) Staples, like solid pants and skirts, especially ones that fit really well and are well-made, are good investment pieces. For trendy pieces and accessories, get them on sale for a little of nothing.
Now shoes are in a category all by themselves! I find that the older I get, the more crucial it is to have comfortable shoes. Gone are the days of buying inexpensive, trendy shoes to match an outfit; I’ve got to have some serious support, so I buy more expensive shoes less often.
If you need something NOW, like a dining table or car, and can’t wait till you can save up your money to buy a higher quality one, I suggest buying the CHEAPEST dependable one you can find. Ask around! Sunshine got a dining table and matching chairs from a friend who works for Bill Clark, when one of his customers was getting a new set and wanted to give away the old one! Or… swallow your pride… and drive the Mawmaw car with 10,000 miles on it but is definitely not cool! Then save your money till you can get exactly what you want.
Where you are willing to cut corners will be determined by you, and everyone might not understand your reasoning. That’s okay. Figure it out for yourself, what’s important to you! As always, I recommend visiting Dave Ramsey’s website and reading his books to help you formulate a financial plan.