The Hidden Cost of “Saving”
Written by Emma Agupusi
My dad taught me a valuable lesson about spending, and I was eager to pass it on to my friend at the first opportunity. At the time, I used to wear a lot of corporate attire, and one of the things we paid attention to was our belts. It had to look neat and fit properly. I had bought a $15 belt that year.
My friend admired my belt and asked me to help him buy the same type; he was shocked when I told him the price. He ended up buying cheaper belts and got two for half the price just to tease me.
Six months later, he saw me wearing the same belt and asked if it was the one I had before. I confirmed and told him about the lesson my dad taught me: “He who buys cheap, buys twice.” He realised that the cheaper belts he bought had worn out, and he had spent on four belts what I spent on one.
Eventually, he mustered the courage to buy the same belt, but he ended up spending twice as much as I did. Interestingly, I used that belt from high school until I started my Master’s degree, a total of 10 years.
Our everyday lives
Now, we’ve all been there. You’re on the hunt for a new pair of shoes, a kitchen gadget, or maybe even a piece of furniture, and you come across two options: one is cheap, and the other is a little pricier. You think to yourself, “Why spend more when I can get the cheaper one and save some cash?” So you go for the bargain, feeling proud of your savings. But then, weeks later—sometimes even days—you find yourself back in the store because the “bargain” broke, wore out, or just didn’t do the job. And that’s when you realise: he who buys cheap buys twice.
This is a phrase that holds a lot of wisdom, especially when it comes to our finances. The temptation to save in the short term often leads to spending more in the long run. Let’s dive into why buying cheap isn’t always the smart play and how making more thoughtful purchases can actually help you save money—and headaches—in the future.
The Illusion of Savings: When Cheap Becomes Expensive
Let’s get one thing straight: we all love a good deal. Scoring something on sale or finding a budget-friendly option can give you a little thrill. After all, who doesn’t like savings? But here’s the catch: cheap isn’t always synonymous with value.
1. Poor Quality, Faster Wear
The number one reason why he who buys cheap buys twice? Quality. Cheap products are often made from inferior materials, meaning they break down or wear out much faster than their pricier counterparts. Think of those $20 shoes that feel great for about two weeks and then start falling apart at the seams. Now you’re not only out $20; you’ve also got to buy a new pair. Suddenly, that $60 pair you passed on doesn’t seem so pricey anymore, does it?
You thought you were saving $40 on shoes, but really, you just bought yourself a fast pass to the nearest shoe store. Congratulations, you’ve become a regular!
2. Hidden Costs
Cheap purchases often come with hidden costs. Let’s say you buy a super affordable printer for your home office. What they didn’t mention in the deal? The ink cartridges cost as much as the printer itself and need to be replaced every month. Or maybe you bought the least expensive car available, only to discover that it guzzles gas and constantly needs repairs. The upfront savings eventually get eaten up by the ongoing expenses that come with buying cheap. At this point, cheap has become really expensive.
3. Time Wasted
Cheap products don’t just cost you more money in the long run—they also cost you time. When something breaks or doesn’t perform well, you’re forced to replace it, repair it, or spend hours researching a new solution. And let’s be honest: time is money. The hours spent dealing with the fallout from cheap purchases could have been used doing something far more productive (or at least more enjoyable).
Think of all the time you’ve spent fixing or replacing those cheap items. You could have learned to play the guitar by now!
Why Paying More Can Mean Saving More
The idea that spending more upfront can lead to savings down the road might sound counterintuitive, but it’s a strategy that really works. Here’s why:
1. Better Quality, Longer Life
When you invest in a high-quality product, you’re paying for durability. Whether it’s clothes, appliances, or electronics, spending more often means you’re getting something that’s built to last. Sure, that pricier option might sting a little at first, but you won’t be back in the store (or online) in a few months trying to replace it.
Example: A high-quality winter coat might cost twice as much as a cheap one, but it will keep you warmer, look better, and last for years instead of one season. The cheap one? It’s probably going to shed feathers faster than your cat sheds fur.
2. Fewer Replacements
When you opt for quality over cheap, you cut down on the need to replace items frequently. This not only saves you money but also cuts down on waste and the headache of constantly buying new stuff. Instead of buying new shoes every year, why not invest in a pair that will last five years? You’ll thank yourself later.
3. Higher Performance
Paying more for a product often means it will work better and make your life easier. That kitchen gadget that costs a bit more might save you time in meal prep, or that higher-end laptop might run smoother, allowing you to get work done faster. Sometimes, paying more isn’t just about durability—it’s about getting a product that works so well that it actually improves your quality of life.
When It’s Okay to Buy Cheap
Of course, I’m not saying you should always splurge on the most expensive option. There are times when it’s perfectly fine to go for the cheap option, especially if it’s something you don’t need to last forever or something that doesn’t see heavy use. Here’s when it’s okay to go for the bargain:
- Trendy or Seasonal Items: If you’re buying a fashion item that’s super trendy and you know you’ll only wear it for one season, it’s okay to go for the budget option.
- Short-Term Needs: Sometimes you just need something to get the job done quickly, and it doesn’t need to last forever. Maybe you need a cheap table for an event or a tool for a one-time home project.
- Items You Rarely Use: If you’re buying something you’ll only use once in a blue moon (like an obscure kitchen gadget), you might not need to invest in the top-of-the-line version.
The key is to understand when cheap makes sense and when it’s going to cost you more in the long run.
How to Make Smart Purchases: Tips for Saving Without Sacrificing
So how do you balance saving money with buying quality products? Here are some tips to help you shop smarter and avoid the dreaded “buy twice” scenario.
1. Do Your Research
Before making a purchase, especially a big one, take the time to read reviews, compare products, and check out what others are saying about durability and performance. You might find that spending a little more upfront will save you a ton of hassle later.
2. Check the Warranty
A good product should come with a good warranty. If a company stands by its product, that’s a sign of quality. Make sure to read the warranty terms so you know what’s covered and for how long.
3. Think About Cost Per Use
When deciding whether to spend more or go for the cheap option, consider how often you’ll use the item. For example, a mattress you sleep on every night? Worth the investment. A leaf blower you use twice a year? You might be able to get away with a lower-cost model.
4. Wait for Sales (But Be Careful)
If you’ve got your eye on a quality product, wait for a sale to grab it at a lower price. Just be wary of sales on cheap products—sometimes they’re just trying to unload poor-quality items by marking them down.
5. Stick to Your Budget
While investing in quality is important, it’s equally important to live within your means. Make sure that any purchase you make fits comfortably within your budget. Sometimes, saving up for a high-quality item is better than buying something cheap right away.
Conclusion: The True Meaning of Savings
At the end of the day, the phrase he who buys cheap buys twice serves as a reminder that true savings aren’t just about spending the least amount of money upfront. They’re about making thoughtful, informed decisions that will save you money—and time—in the long run. By focusing on quality, durability, and value over cheap and fast, you can avoid the cycle of constantly replacing things and make purchases you’ll be happy with for years to come. It is a mindset worth cultivating.
So, the next time you’re tempted by a cheap option, just remember: spending a little more now might just save you from buying twice (or thrice). Plus, your future self will thank you when they’re not stuck in a never-ending loop of returns and replacements!