The High Cost of Low Prices
By Stephen Chaleff, The Frugal Father ™
Ah low prices don’t you love them. Prices so intoxicating that we can’t wait to spend our hard earned money just to save. Makes you wonder how much more you can purchase for those low prices. More stuff at low cost. Tons of dreck filling every nook of our homes. Things we may need to through out sooner than later because we may have sacrificed quality because of a cheap price tag.
The high cost of low prices effects all frugal minded, budget conscious families. Hey, look at that great widget thingy for $2.00 why its $9.00 in the catalogs. Cha-ching
there goes the cash register; you just purchase something because the price seems too good to pass up. Did you save any money here? Not a stitch! You sent $2.00 for something just because it was cheaper here than in a catalog. The catch word here is spent.
While low prices are cause for second thought it should be only if the item(s)
are needed (either currently or an anticipated need.) Did you really need that widget? Why? Because it was cheap or because you had to replace something? Because it will serve a multitask problem in your home or because it was a bargain. Bargain spending
kills savings and budgets and fills the home will cheap stuff.
We’re not saying ignore coupons, sales or closeouts but, those big box meglomarts fighting over whose cheaper are really getting you to spend more than you need. Yes, buy new socks at meglomart if you need them but not that shirt that’s on sale
for $7.00 dollars ( have you ever heard of a quality dress shirt for that cost?) Buying things that are cheap because they are cheap saps your future.
Quality items (savvy shoppers can spot a good item in bargain stores or boutiques) last longer and they do go on sale. Invest some time and buy what you need only and when is on sale or closeout. Foods items well, that’s been beaten to death. Use coupons, loss leaders, a price book or a combine’s strategy and don’t forget unit prices.
Let’s say you need shoes and can’t wait for an end of year sale or seasonal sale
do you go to Payless or LL bean do you buy at Macy’s or the Birkenstock store? It depends on the circumstance. I have found not only low prices at “Pay lower” type of
store but sometimes find a quality shoe or sneaker, you need to know your quality as well as your prices. An investment in a high quality shoe that will last years even if worn a lot
is cheaper than replacing ever year. Why buy an expensive sneaker than needs to be replaced every six months if a “pay lower” sneaker of similar quality and much lower cost will last the same six months.
Quality beats quantity almost every time. I said almost because there are exceptions to everything. A large quantity of crackers or something you eat a lot at the dollar store is a good buy, much better than supermarkets and the quality is the same.
Common sense and the ability to play devils advocate are the best companions
you have to beating “The high cost of low prices.” Remember quality, remember comparison, and remember that a little effort goes a long way.
The Frugal Father ™ Frugality lived and learned! Stephen Chaleff is a writer and artist
having employed money saving and simplicity strategies without denial. Being fugal is not being cheap. “Frugality Rules!”
