How to Know if Paying More is Worth it and 4 Items We Pay Extra For
Not everything that costs more is worth it and what one person deems a luxury can be an everyday expense to someone else.
In this article, we are not using luxury in terms of high-end designers or extremely exclusive resorts.
Luxury for this purpose is about those things that many people on average or below average incomes consider a luxury because they cost more.
The reason why is too often we see people struggling, buying the cheapest item at the time but it costs them more in the long term.
Terry Pratchett explains it well with The Boots Theory:
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes ‘Boots’ theory of socioeconomic unfairness.”
― Terry Pratchett, Men at Arms: The Play
How do you Know if it’s Worth it to Spend More?
Anything you will use regularly, have for a long time or will greatly impact your health and life is worth spending a little extra to get the quality item.
Expensive does not always equal quality. You need to do your research, read reviews, find out about common issues with whatever you want to buy, how long they typically last etc then decide.
How do you plan to use this and how will it impact your life?
We know it’s not always in the budget to buy the best of everything so look at what matters most to you and where you can start to invest in the higher quality items vs buying the cheapest on the shelf that day.
A few examples, Iwe use kitchen knives daily so want good quality, sharp knives that do the job properly.
When upgrading appliances, we check energy efficiency, lifespan and overall value.
With perfume, the more expensive ones last longer.
With a car, buying new generally isn’t worth it as they lose value as soon as you drive them away from the dealer.
Buying used means common issues are typically known, the highest drop in value has already happened and you can negotiate a little more too.
Use Redbook.com.au to check the value of the car and research common issues, recalls, faults and similar of the specific year, make and model of the car you are considering.
Here are a few things that are worth spending more on and the reasons why.
1. Quality Clothing
You don’t need to spend a fortune, you need to know what is worth spending on and why then shop wisely.
Our clothes can either support our body or cause long-term damage, they can determine how others perceive us which can directly impact our finances and they can increase or decrease our confidence.
How Clothing Impacts Health
The Boots Theory showed how paying more for a quality pair of boots that last will save you money long term.
Shoes that support your feet properly will reduce back and other issues later in life.
Wearing high heels all the time can have a negative effect on your posture.
Trying to do a run or workout in shoes that are not designed for sports or hiking in thongs can all lead to injury.
Buying the right shoes that are quality and will last is important for your health and budget.
For example, one team member bought specific hiking boots in 2016 for a few hundred dollar.
Those boots lasted years with use through Vietnam, Indonesia, Slovenia (on a 2 week hike called The Crow’s Flight), the Solomon Islands, Fiji, Vanuatu and of course Australia.
Cheap hiking boots would have fallen apart afterthe first hike. These boots have lasted almost a decade and took a beating.
Underwear is another one along these lines.
Ill-fitting bras and underwear can cause pain and not support you properly, among other health issues.
Clothing should be comfortable, reflect who you are and last a while.
How Clothing Impacts Others Perceptions Of Us
We like to think we are not judgement but humans size each other up in microseconds, so looks count.
It matters everywhere from job interviews to even dealing with the teachers at your kids school.
You don’t need to spend a fortune. Knowing your style, what looks good, feels good and gives you confidence will leave a lasting impression.
How Clothing Impacts Confidence
When you look good, you feel good.
Wear what feels good to you and you know you look good in every day and you will notice the difference.
Even wearing nice pj’s or investing in something such as this long satin robe from IDENTITY LINGERIE can make a difference in your sleep quality and how you feel at home.
When we feel confident, we are more likely to take care of ourselves, value ourselves, follow opportunities, ask for a raise or apply for jobs where we earn more.
All of the above, health, perception and confidence can deeply impact our finances.
How to Afford Quality Clothing
It’s not about buying the most expensive, it’s about knowing what works for you and what will last.
Buy quality brands on sale, with gifts cards, ask for them for my birthday etc or buy second hand usually.
Find out what styles, colours and brands are best for you then play around with it.
Learn how to get free gift cards, use cash back programs when you shop, check out sales racks, second hand stores and learn how to stack discounts to get the best prices.
Quality Clothing We Purchase
To help with more specifics, here are some of the items we have purchased over the years that last and we love.
Hiking Boots: Ours were from Kathmandu and they regularly have big sales.
Activewear: We love Ryderwear, it is comfortable, has a variety of styles and different support options for different sports with their sportsbras. They regularly have up to 80% off as well.
Lingerie: We mentioned one brand above, lingerie and underwear is more personal and it depends on the styles you like. Big W, Kmart, Target do not have the quality or longevity of other brands so we never buy from there, even for our everyday or “boring” underwear.
2. Mattress, Pillows and Manchester/Linen
Sleep is when our bodies are busy healing, regenerating and processing everything.
Getting quality sleep is crucial to your health and a better quality of life.
When you are sleep deprived, you make poor decisions, it is harder to function, your career will suffer as will your mental and emotional state.
Essentially, every aspect of your life suffers when you don’t get enough quality sleep.
Investing in a good quality mattress, pillows, sheets, mattress protector, blanket and covers all help with your sleep.
Think about how long we spend in bed (or how long we should be sleeping).
It’s a huge portion of your life so being comfortable is worth it.
Do you research, try different mattresses and see which one will work for you.
It might feel expensive initially but when you think about cost per use and the fact that most quality mattresses last years, it works out well.
Cheap mattresses don’t last as long and will be interrupting your sleep sooner due to becoming uncomfortable quickly.
Pillows come in different shapes, thickness, materials etc and how you sleep can determine which pillow might be best.
Sleeping on your back requires different support to sleeping on your side.
We all know how it feels when you have woken up after a night where you slept on the wrong angle and can’t move your neck properly.
The pain is extreme and what we can do is severely limited.
Invest in the pillows.
Quality linen lasts longer in my experience and is more comfortable.
Kmart sheets might be cheap but we found they wear through quicker, are scratchier and don’t breathe as well as quality linen, cotton, bamboo or silk.
Other Factors to Invest in For Sleep
While you’re at it, make your room as comfortable as possible, get block out curtains, consider a sleep mask, use a diffuser for essential oils to assist with relaxation and sleep etc.
3. Accommodation
We travel often due to work, sporting commitments and family in Vanuatu.
Throughout the years we’ve done housesitting, couchsurfing, Airbnb, cheap motels, free camping, caravan parks, tiny homes, basic hotels, luxury hotels and other luxury options.
Depending on the purpose of your trip and the budget, luxury accommodation can be completely worth it.
Luxury hotels have more amenities we use such as a gym, pool, sauna, restaurant etc.
The rooms are soundproof, beds more comfortable and a good night sleep is much easier in those rooms than uncomfortable, loud ones.
One example is a recent trip to Perth we stayed at the Parmelia, a Hilton Hotel in the city.
We had a suite and it was by far the best option for us on that trip.
The hotel staff were amazing, the rooms extremely comfortable and the overall experience far superior to the cheap options and worth it.
Being supported with a valet for my car, a bell hop to take luggage up, meals sorted with a buffet breakfast etc were all ideal as for that trip we needed to save time and energy.
Weighing up the pros and cons of various accommodation isn’t just about the price.
It’s about comfort, proximity to what you need to do and amenities.
We used to always go for the cheapest until we started travelling more for work and we saw the benefits of luxury accommodation.
4. Food
Eating nutrient dense food might seem expensive until you know how to do it and look at the overall impact.
Healthy food that is filling means less snacks and the price per kilo for a piece of fruit vs a chocolate bar makes the fruit significantly cheaper.
Then there is the long term impact of eating healthy and your health, your teeth and issues down the track.
Eating loads of cheap junk will ruin your health and cost you more in the long run.
You are more likely to develop expensive health issues and reduce your quality of life because of them which can also reduce your capacity to earn an income.
Or it can drain your finances because you have to pay for medical expenses.
Learn about nutrition and find recipes that are frugal, nutrient-dense, filling and tasty.
Change your mindset from $10 pasta heavy meals to finding the healthiest options you can.
Experiment with flavours and recipes, it is worth the time and money to find what works for you and will improve your health.
What you eat has a greater impact on your health than your workouts (although being active, working out and doing fitness activities are important still).
