Income and Investments

4 Ways You Can Spend Money to Save Money

Written by Elle Martinez
Published May 5, 2014
2 min read

There are many well meaning friends that focus on price before making any kind of purchase. If they can get something for free, they’re the first in line (with no care about whether they really need it).

I want to share a few ways where spending some money up front can save you more money in the long run.

4 Purchases Where a Little More Money Matters

Here are just a few purchases that can give you a lot of value if you’re willing to spend just a bit more money.

Clothes: I’m not talking buying all designer brand, but I am suggesting laying off cheap clothes in some situations. For my husband that means looking at suits carefully before buying some. He uses his quite frequently so we need something that will last a bit and is comfortable to wear. That means staying away from cheaply made suits and staying with the labels that have held up well over the years.
Baby Gear: There are 2 truths when it comes to little ones – 1) they grow out of their stuff too quickly and 2) they abuse what they do have (especially play clothes). When you’re picking up something for your baby or toddler like a coat, make sure the quality is there. Buttons should be secured and coats properly lined. If you’re watching your budget, try searching at consignment shops that specialize with baby items. We have one in our neighborhood and it’s been a great source for clothes and baby gear for our little one. Once we’re done, those items that are in good condition can be taken back to be consigned. A win-win!
Electronics: My husband loves gadgets, so he’s always looking at what’s coming out at the local Best Buy and what’s on Newegg. When we’re on the hunt for a television, he spent months checking out the specs and reviews of various models. Even though he doesn’t always get the lowest price, by keeping an eye on what electronics typically costs, he can usually find a solid deal on a great item.
Cars: This year we were in the market for a family sized sedan. We poured over review sites like Consumer Reports and created a list of models to keep an eye on. We were definitely focused on getting the biggest bang for our buck by looking at safety records, gas mileage, and price. We ended up finding a great deal on a Honda for our family car.

As you can see when looking at buying any item, it’s important to look at how it’s actually going to be used versus just looking at the price.

Thoughts on Getting Value

I’d love to hear from you about how you shop. What are you willing to spend more on to get better quality? What items do you go cheap with?

Elle helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second. More from Elle Martinez

2 responses to “4 Ways You Can Spend Money to Save Money”

GalaxyboyInAZ says:

May 15, 2014 at 10:52 am

Great advise…i’m a newly single man (divorced); I’m in my 30’s and i find that single mom’s have diff. reactions when it comes to being frugal. I’ve met some that don’t mind thrift store shopping (i love antiques and things people bought in the 60’s and 70’s that were top of the line at that time).
However, how do i deal with women who aren’t frugal at all and want only brand name things and cannot fathom being with a guy who is frugal because he enjoy’s it, not because he needs to be?
@CurlyDan: Yes, i love craigslist, especially for things that you are trying out. I bought a bicycle there for $50 in case i don’t keep up with the hobby. I’ve gone 100 miles on it now and still loving it, so i may go for a newer one at $300 bucks; but this also works for instruments or any other “hobby” that you may not continue after a few days/weeks…

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curlydan says:

May 6, 2014 at 12:48 pm

Clothes, baby gear, electronics: Simple here. Use Craigslist!! Especially on baby stuff and kids clothes. My wife just bought 90 items of clothes and shoes (really good name brand tennis shoes) for $45. Kids keep wondering how my child got all these “new shoes”.

For new cars, I recommend that you stop talking to the talking heads at the dealership and get an online bid from 2-3 dealerships, then make them compete. They can’t deny the facts and bids that you hold in your hand.

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