I fully admit that I can be a frugal person. I am NOT cheap, but I can be frugal and I think that is a good thing, particularly when you are trying to save money for your future, pay off debt, etc. By frugal I don’t mean finding a great deal and just buying something because you have a great deal. I mean that you actually think about a purchase, buy it out of necessity and try to find the most economical option you can. I admit I am not a fashion maven. I really don’t care about buying designer clothes, having a BMW, or even buying the best name brand products in basic consumer goods (e.g. Crest toothpaste vs. a more generic brand). If that makes me a cheapskate so be it but I choose to spend my money elsewhere.
Inspired by a post from Mr. 1500 I want to talk about where you might not be frugal where you are willing to pay extra or top dollar for a particular item. There aren’t many for me, but I do have a couple.
First, I won’t skimp on a good suit. I find that when I buy suits I buy classic brands and cuts that will fit me for a while. I am not a fan of the trendy suits that have four hole buttons in the jackets and the like. I am a fan of a classic grey or navy suit that can look good. I still have suits that are five years old or more that I wear because they are classic. I don’t dress up that often for work, but when I want to buy something new in terms of a suit I am more than willing to pay good money for it. The only reason I would move up or down is because my weight changes and that is a problem in of itself (I’m working on it).
Second, Mrs. ROB convinced me of this one: good furniture. We recently furnished our home and our continuing to furnish our home with some pretty good furniture. By pretty good I mean the structure of it is really solid. In other words, we didn’t go to the local furniture store and buy the cheapest item. My father-in-law was in the furniture business for years and taught Mrs. ROB a thing or two about buying good furniture. Some things that Mrs. ROB looked for couches that were 8 way hand tied, solid hardwood frames that were doweled not glued. I learned a lot from her when we were buying furniture and she convinced me that the construction of living room furniture can be more important than price.
I am not saying you shouldn’t buy less expensive furniture if you are on a budget. However, if you can afford it buying a solid wood, hand-tied, doweled couch is well worth it. Now we also didn’t spend millions of dollars on our furniture. Mrs. ROB is fantastic at finding bargains. But we did spend a little bit more than I thought initially, but this stuff will last us probably a decade or two. Not a bad investment if you ask me.
FInally, I don’t skimp on good wine. There are plenty of great wines out there that are inexpensive. Believe me I hunt for them, tried them, and drank them. But there are also some great wines out there that are a bit more expensive and well worth drinking. I am not talking a Chateau Lafite-Rothchild (that would be great) but I am willing to spend a bit more money to get a really good bottle of wine. Again, that doesn’t mean we don’t bargain hunt. The vast majority of the wine I drink is around $10-$12 a bottle. But I don’t buy wine just because of that. I buy good wine based upon reputation, Wine Spectator points, etc.
So tell me what are some items that you are more than happy to pay a bit extra for and why?