How To Save Money Purchasing Buy-It-For-Life Items
A fairly common topic of household debate can actually be the source of a lot of wisdom when it comes to saving money. Arguments over highly expensive items can become redundant when there is an understanding on the behalf of both parties regarding the lifetime value of a particular purchase. For example, buying a $300 winter jacket can seem like an exorbitant purchase and might lead to criticism. However, if this jacket has a lifetime guarantee of ten years or is of high quality, then in reality it is saving you money if you would otherwise spend replacing your winter attire every two to three years. There are in fact numerous opportunities to buy common household items using this same logic.
Lifetime Guarantees
A simple Google search for “products with lifetime guarantees” reveals a vast range of lists of items which come with lifetime warranties included. While many of these may be non-Australian brands, in the silicon age, buying internationally is no big deal. The money you initially spend on shipping will undoubtedly save you capital in the future when your products last twenty years without needing replacement. Furthermore, many of these ‘lifetime guarantee’ brands offer free replacement when their products do eventually go bust. This is equivalent to buying a lifetime supply of one product for the price of a single item.
Modular Items
One purported fallacy which prevents many people from buying high-quality consumer goods in the 21st century is that if they break the entire unit will need replacement. Buying modular items is one way you can save money easily while still experiencing high quality. Coffee machines, other kitchen appliances and computers are just a few examples of products whose components can be replaced when they break. This saves money replacing the entire unit.
Obsess Over Quality
While more expensive than low quality goods, high quality goods can last far longer and save you money purchasing replacements. Indeed, high quality goods are often expensive for a reason: they are made of durable materials which are designed to last a very long time. Ikea furniture is one example of low-quality goods which require replacement often. It can be tempting to buy the bed which costs less than $400 and can be delivered to your door, however, considering the frequency at which such items break, it’s probably worth buying something a little more expensive which can last you three times as long.
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