When to Splurge and When to Save

When you're shopping, it can be tempting to save as much money as possible. After all, who doesn't love the thrill of a great deal?

But sometimes, the phrase "buy cheap, buy twice" really does ring true. While it can be beneficial to save where possible, some items are worth investing in. So before you set out to update your wardrobe or refresh your home furnishings, take some time to think about which items are worth splurging on and where you should look for savings. Your budget will thank you.

Clothing and Accessories

Splurge

Denim: If you're the kind of person who lives in your favorite, perfectly broken-in pair of jeans, you'll want to invest in a quality pair. It's better to spend $100 to $200 on jeans that will last you years to come rather than $30 on a pair you'll have to replace every few months.

Shoes: Think about how much time you spend on your feet. Be kind to them by spending the money on sturdy shoes that fit properly. When the heel finally does wear down or the sole begins to separate, you can have your shoes repaired rather than shell out more money for another cheap pair.

Staple pieces: There's nothing like a timeless blazer or little black dress that's been tailored to perfection. These types of staple wardrobe items last through the trends and are worth investing in.

Save

Basics: When it comes to wardrobe basics (such as t-shirts, loungewear, and socks) it's not a great idea to stretch your budget. There's not much difference between a designer t-shirt and one from the discount department store. Plus, these items tend to wear out quickly anyway.

Trendy items: Those tie dye joggers or acid wash jeans may only be in fashion through the end of the season. If you like to keep up with the trends, it's not worth spending a lot on items that will go out of style in a few months.

Home Furnishings

Splurge

Mattress: Between sleeping, trying to get to sleep, relaxing, reading, and watching TV, many people spend a lot of time in bed. In fact, a recent survey of U.S. adults found that they spend nearly half their time1 lying in bed. That's why it's so important to spend top dollar on a supportive mattress that will get ample use and can last you up to a decade.

Sofa: You don't have to be a couch potato to benefit from a high-quality sofa. Whether you have a large family, frequent guests, or pets who like to curl up on the couch, it pays to spend a bit more to ensure this staple piece of furniture can hold up while keeping everyone comfy.

Save

Bedding: Though you should budget for a top-tier mattress, it's easy to find quality sheets, comforters, and pillows on sale at department stores or from discount retailers.

Wood furniture: Tables, nightstands, and other wood furniture isn't worth spending a fortune on. You can find functional, stylish pieces from second hand stores, and even spruce them up with a bit of stain or chalk paint if you're in the mood to DIY. If you want to buy new, shop the sales and aim for furniture that is primarily wood and not plywood the actual wood will last a lot longer.

Electronics

Splurge

Headphones: Audiophiles will appreciate the difference in sound quality a nice pair of headphones offers. Whether you're looking for noise-cancelling, wireless, or sport headphones, save up for the higher end model.

Tablet: Many off-brand tablets have flooded the market in recent years to compete with the major players in tech. But these versions don't always offer the same level of functionality, speed, or durability. Go ahead and treat yourself to a high-quality version.

Save

Television: When it comes to choosing a TV, it's usually about size and resolution. You could spring for the latest trend, such as a curved screen or advanced smart options, but in reality, your expensive TV will be obsolete in six months anyway. Most of the major electronics brands offer quality budget options and you can often snag a good deal if you have some patience to comparison shop and wait for a sale.

Smart home assistants: When it comes to the world of Siri, Alexa, and Google, there are a ton of expensive gadgets you can buy. However, if you want a straightforward setup, there are plenty of budget-friendly options.

Appliances

Splurge

Dishwasher: Scrimping on a dishwasher might make you feel like you're saving money, but extra time spent over the sink rewashing dishes isn't only annoying it's less efficient and more costly in the long run.

Coffeemaker: If you're a real coffee snob, you may be better off investing in a quality coffee grinder and French press or pour-over brewing system or even a nice espresso machine if it's within your budget. And this investment comes with bonus savings when you end up spending less at the coffee shop.

Save

Toaster: Your morning bagel doesn't need any fancy equipment to get nice and toasty. Don't worry about spending a lot on a toaster even a low-end model should last you a long time.

Microwave: If you're going to be zapping your dinner, you're not expecting gourmet results. Any microwave that fits your budget will get the job done.