Buying cheap items actually causes you to spend more in the long run, says Virtue Digest writer.
Learn to buy quality stuff, even if it is slightly more expensive than what you would normally be inclined to spend. You will usually pay more in the long run when you buy inferior things because you need to replace them more often. Sometimes you only need to add an extra to get quality. Make that sacrifice today. It does not mean you live beyond your means, it means saving in the long term. Ask yourself what it will cost you in the long term and not just today. Maintenance and running costs are very important as the purchase cost.
For example, it is better to buy a good quality generator that has capacity for your household items rather than a fairly used one. A generator, by its nature, requires constant servicing and maintenance even if it is brand new. If you now buy a fairly used one it will give you more issues as it continues to depreciate in value.
As a general rule, go for good quality items; try to make the initial investment. That way, you will spend less in the long run. Substandard or inferior things sold at cheaper prices usually pack up easily or you spend more on maintenance and running costs. If you keep replacing them often you would end up spending more. So it’s better to buy something of good quality from the outset.
Anytime you want to purchase an item always remember that buying cheap could cost more.