I may be Frugal…
- I live below my means.
- I spend less than I earn.
- I currently focus almost all of my available monies (after giving) on debt reduction and personal savings using my Balanced 75/25 method.
- My wife and I have recently cut our grocery bill from $400/month down to $250/month.
- We canceled our satellite TV service to save $75/month.
- We make our own laundry and dishwasher detergents.
- We do frugal camping by going rustic and pre-making all of our meals.
But I am NOT Cheap!
Although I am always looking to cut costs, slash debt, boost savings, etc… I am always willing to pay good money for a high quality product!
Most recently… I just bought my first pair of Keens. For those unfamiliar – from the Keen website:
“Keen began with a moment of pure vision with a simple design challenge: Can a sandal protect the toes? The answer was yes. The answer was The Newport.
From the Newport, Keen created a company built on hybrid innovation, redefining the outdoors and giving back to the community.”
Basically Keen sandals are the bomb! I have been wanting to get a pair for years, but just hadn’t gotten around to it… until yesterday. I finally found the right style Keen in the right size in the right color in the right store for the right price.
I am also a huge fan of Birkenstock sandals… and am not such a noob when it comes to the German sandal powerhouse.
I have owned, wore, and swore by Birkenstock sandals for over 10 years now. How many pair have I bought in that time? ONE! And that my friend is the meat of this post.
Pay For Quality!
Just as Solomon says in the awesome and motivating book of Ecclesiastes:
“To every thing there is a season, and a time to every purpose under the heaven:” ~ Ecclesiastes 3:1
Just as there is a time to save money… there is also a time to spend. Paying for quality often saves you money in the long run. As I mentioned earlier in the post I purchased a pair of Birkenstock sandals over ten years ago. I paid around $75 for them and have not had to spend money on a pair of dress sandals since.
I paid $100 for the Keens and plan on having them for 10 years or more as well. Granted the sandals will last different people different amounts of time based on usage, etc… but 10 years is an accurate projection based on my needs and my use.
If you divide the amounts paid over the length of 10 years you will find that I pay an average of $17.50/year for sandals ($175 spent divided by 10 years). This amount is equivalent to or less than the amount I would have to pay for 2 different pairs of sandals every year or two. If I were to buy a “cheap” pair of sandals — one for dress and one for play — I would likely pay upwards of $50+ every year or two.
Not only would “buying cheap” cost me just as much or more, it would also fail to deliver the comfort I receive from my Keens and Birkenstocks!
Though I am a indeed a very frugal man… I am not a cheap man! I will always pay for quality.
What about you?
When it comes to quality… are you afraid to pay – or do you make it a habit to pay good money for good things?
Perhaps you have a testimony from your past that converted you from a cheapskate into a lover of quality… c’mon, don’t be afraid to share – spill the beans man!