How To Save Money On Household Items
May 14, 2023Hello Stoic Investors,
Today I want to talk about wasting money.
Some people waste up to 50% of their salary on things that add no value.
Let’s fix that.
Some people say: “The path to wealth starts with being super cheap.”
Yes, if you want that path to be absolutely painful.
The thing is that durable investment strategies require time.
Sometimes even decades.
Do you want to ruin all those years by being cheap?
I think not.
It’s far better to accept the fact that it’s reasonable to spend more money on certain things.
Do you want a list?
Here are ten items, where you shouldn’t be cheap.
The Big Ten
Mattresses - A good quality mattress is essential for a good night's sleep and better health.
Shoes - Poor quality shoes can lead to foot problems, back pain, and discomfort.
Power tools - Cheap power tools may not perform well and can be dangerous to use.
Electronic devices - Cheap electronics may not last long and could be less efficient, leading to higher costs in the long run.
Kitchen knives - Cheap knives can be dull, hard to use, and potentially dangerous.
Tires - Poor quality tires can affect your car's performance and safety on the road.
Paint - Cheap paint may require more coats, leading to additional time and money spent.
Furniture - Cheap furniture may not be as durable, leading to frequent replacement costs.
Home appliances - Cheap appliances can be less energy-efficient and break down more frequently, leading to higher energy bills and repair costs.
Pet food - Cheap pet food may not contain the necessary nutrients and can lead to health problems in your pet.
But why am I telling you this? Isn’t the purpose saving more money so I can invest it?
The proper path
The main goal should be to have your finances in order.
But not at the expense of your safety, health or joy.
These things are irreplaceable and should never be put at risk.
On that note, I’ve saved something special for the ending.
One last thing
What is the one thing that’s invaluable?
Family.
According to a study done in 2005 by Neal Roese and Amy Summerville, one in five people regret they didn’t spend enough time with their family.
The thing is that it’s not always about money.
It’s what that money enables you to do.
It’s a tool.
A tool for a better and more fulfilling life.
So, note down these points and start spending your money on the right things today:
- It’s reasonable to spend more money on valuable things
- Spending time with your family is priceless
- Money is a tool for a better and more fulfilling life
