Comments on: Paying for Quality Saves Time and Money http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/ personal finance tips, tricks, and commentary Mon, 13 Feb 2012 18:22:18 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Pastor Jim Kibler http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137430 Pastor Jim Kibler Mon, 28 Dec 2009 02:07:13 +0000 http://www.fivecentnickel.com/?p=3724#comment-137430 Great article. How refreshing to find someone who does not have a poverty mentality. It seem like my life work to get the poverty mentality out of the people in my church and as I do financial increase conferences around the country. Less is not always best. Great article. How refreshing to find someone who does not have a poverty mentality. It seem like my life work to get the poverty mentality out of the people in my church and as I do financial increase conferences around the country. Less is not always best.

]]> By: Doctor Stock http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137420 Doctor Stock Sun, 27 Dec 2009 19:22:44 +0000 http://www.fivecentnickel.com/?p=3724#comment-137420 Interesting... I'm cautious always... but willing to commit to the purchase after ample research. Interesting… I’m cautious always… but willing to commit to the purchase after ample research.

]]> By: LeanLifeCoach http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137398 LeanLifeCoach Sat, 26 Dec 2009 22:53:05 +0000 http://www.fivecentnickel.com/?p=3724#comment-137398 I grew up in a family that put more weight in quality than in quantity and lived my life that way; until a few years ago. Professionally I was introduced the business concepts of Lean Management. I have since applied many of these principles into my personal life with great success. One of the core concepts is to buy the items with the "best cost not the lowest cost." You have to look at more than just the purchase price; you also have to look at the cost of use as well. Quality is very subjective anyway. Which has better quality; a Monte Blanc pen or a Bic pen? I have found both to be dependable but considering how often I misplace pens a Bic is the better option. I grew up in a family that put more weight in quality than in quantity and lived my life that way; until a few years ago.

Professionally I was introduced the business concepts of Lean Management. I have since applied many of these principles into my personal life with great success.

One of the core concepts is to buy the items with the “best cost not the lowest cost.” You have to look at more than just the purchase price; you also have to look at the cost of use as well.

Quality is very subjective anyway. Which has better quality; a Monte Blanc pen or a Bic pen? I have found both to be dependable but considering how often I misplace pens a Bic is the better option.

]]> By: Funny about Momey http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137396 Funny about Momey Sat, 26 Dec 2009 17:26:10 +0000 http://www.fivecentnickel.com/?p=3724#comment-137396 Well said! When I first entered singlehood and believed I soon would be living under the Seventh Avenue Overpass, I determinedly bought everything on the cheap, following the model of a successful cheapskate pal. This led to a series of Big Mistakes, signal among which was the "bargain" Monkey Ward washer and dryer. True...I got the pair of them for the price of one good Kenmore. Truer: a year or so later I had to shell out the price of one good Kenmore. The washer started to crap out within months, and since I had no children with me, it only ran a couple loads a week. The dryer ran well, though, and for a long time. Maybe a dryer is a simpler device? I prefer to spend more for things that will last several years -- especially clothing, which I'm not interested in replacing every six months. And shoes: for women, shoes that a) are not bone-crushers and b) don't look like Granma's orthopedics are mighty pricey. Well said!

When I first entered singlehood and believed I soon would be living under the Seventh Avenue Overpass, I determinedly bought everything on the cheap, following the model of a successful cheapskate pal.

This led to a series of Big Mistakes, signal among which was the “bargain” Monkey Ward washer and dryer. True…I got the pair of them for the price of one good Kenmore.

Truer: a year or so later I had to shell out the price of one good Kenmore. The washer started to crap out within months, and since I had no children with me, it only ran a couple loads a week.

The dryer ran well, though, and for a long time. Maybe a dryer is a simpler device?

I prefer to spend more for things that will last several years — especially clothing, which I’m not interested in replacing every six months. And shoes: for women, shoes that a) are not bone-crushers and b) don’t look like Granma’s orthopedics are mighty pricey.

]]> By: John DeFlumeri Jr http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137390 John DeFlumeri Jr Sat, 26 Dec 2009 15:30:13 +0000 http://www.fivecentnickel.com/?p=3724#comment-137390 Balance and planning make the most sense. Quality is usually worth the money, but not on something you'll never use. John DeFlumeri Jr Balance and planning make the most sense. Quality is usually worth the money, but not on something you’ll never use.

John DeFlumeri Jr

]]> By: John @ Hard Work = Blogging http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137376 John @ Hard Work = Blogging Fri, 25 Dec 2009 16:13:54 +0000 http://www.fivecentnickel.com/?p=3724#comment-137376 I prefer a mix of quality vs price. I'll group products into quality/feature tiers. Then i'll determine the tier level i need. Then i'll make my determinations within a level based on price. Sure i may not get the best quality items. But this way i am not spending for more than i need for items. I may only get the one that last 100 years instead of 150 years but i don't need those extras. I prefer a mix of quality vs price. I’ll group products into quality/feature tiers. Then i’ll determine the tier level i need. Then i’ll make my determinations within a level based on price.

Sure i may not get the best quality items. But this way i am not spending for more than i need for items. I may only get the one that last 100 years instead of 150 years but i don’t need those extras.

]]> By: Evan http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137370 Evan Thu, 24 Dec 2009 19:43:30 +0000 http://www.fivecentnickel.com/?p=3724#comment-137370 I think there is a skill in determining which products/services you should apply quality vs. price calculations. I just had this discussion the other day, I can't remember the product, but I remember saying to my co-worker I could buy 3 of product X before meeting Product Y's cost. I think there is a skill in determining which products/services you should apply quality vs. price calculations.

I just had this discussion the other day, I can’t remember the product, but I remember saying to my co-worker I could buy 3 of product X before meeting Product Y’s cost.

]]> By: bodark http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137358 bodark Thu, 24 Dec 2009 14:26:40 +0000 http://www.fivecentnickel.com/?p=3724#comment-137358 First - Happy Holidays to everyone! Quality... If it is what you make your living with, buy the absolute best you can. Wrenches or calculators... it will make life better. And when you buy for your significant other: Women love clear and sparkly diamonds, and a no self respecting man would turn down fine whiskey (unless he didn't drink, then whatever it is he does). All the best to everyone and May the Lord bless you and yours during this holiday season! First – Happy Holidays to everyone!

Quality… If it is what you make your living with, buy the absolute best you can. Wrenches or calculators… it will make life better.

And when you buy for your significant other: Women love clear and sparkly diamonds, and a no self respecting man would turn down fine whiskey (unless he didn’t drink, then whatever it is he does).

All the best to everyone and May the Lord bless you and yours during this holiday season!

]]> By: David http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137356 David Thu, 24 Dec 2009 14:07:22 +0000 http://www.fivecentnickel.com/?p=3724#comment-137356 I am an American expatriate living in Ukraine, where incomes are a fraction of those in the U.S. but many items cost as much or more. Here, buying quality is a recognized necessity, and pays off many times over. That said, many Americans don't take the time to learn to recognize quality in many items, thinking that brand names alone are sufficient. Many store brand food items are every bit as good as name brands--often made by the same plants--as one simple example. It appears that for now the "disposable society" is in decline--let us hope that continues. When buying something you are not familiar with, it is also good to do your homework to learn to recognize what real quality is in that kind of goods. That will also help you be satisfied with your purchase, knowing it was the best available option of quality, price, and value. I am an American expatriate living in Ukraine, where incomes are a fraction of those in the U.S. but many items cost as much or more. Here, buying quality is a recognized necessity, and pays off many times over.
That said, many Americans don’t take the time to learn to recognize quality in many items, thinking that brand names alone are sufficient. Many store brand food items are every bit as good as name brands–often made by the same plants–as one simple example.
It appears that for now the “disposable society” is in decline–let us hope that continues.
When buying something you are not familiar with, it is also good to do your homework to learn to recognize what real quality is in that kind of goods. That will also help you be satisfied with your purchase, knowing it was the best available option of quality, price, and value.

]]> By: Noadi http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137354 Noadi Thu, 24 Dec 2009 14:05:10 +0000 http://www.fivecentnickel.com/?p=3724#comment-137354 I'm with Jon, I go for quality when it's something I'll get a lot of use out of. For example I recently spent a painful amount of money for a new camera. Now I really needed a new one, I have to take product photos for my business and my old camera is in bad shape. I did a lot of research and read a lot of reviews before choosing a very nice 12MP camera with good optics and manual controls that also shoots HD video (basically the next step down from a DSLR). I use my camera almost every day, I plan on getting at least 4-5 years of use out of it. On the other hand, some things I go with cheap over expensive are things I'm going to wear out quickly or use only once or twice. Socks are a great example, I tend to wear my socks around the house instead of slippers, which I find too hot, and wear holes in them. So I buy cheap comfy cotton socks and don't care if they get ruined. I buy used furniture for the same reason, I have a large dog and she's pretty rough on furniture. I'd rather get a used couch and put a slip cover on it than buy a nice new one and have the dog ruin it. I’m with Jon, I go for quality when it’s something I’ll get a lot of use out of. For example I recently spent a painful amount of money for a new camera. Now I really needed a new one, I have to take product photos for my business and my old camera is in bad shape. I did a lot of research and read a lot of reviews before choosing a very nice 12MP camera with good optics and manual controls that also shoots HD video (basically the next step down from a DSLR). I use my camera almost every day, I plan on getting at least 4-5 years of use out of it.

On the other hand, some things I go with cheap over expensive are things I’m going to wear out quickly or use only once or twice. Socks are a great example, I tend to wear my socks around the house instead of slippers, which I find too hot, and wear holes in them. So I buy cheap comfy cotton socks and don’t care if they get ruined. I buy used furniture for the same reason, I have a large dog and she’s pretty rough on furniture. I’d rather get a used couch and put a slip cover on it than buy a nice new one and have the dog ruin it.

]]> By: Jon http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137352 Jon Thu, 24 Dec 2009 13:40:42 +0000 http://www.fivecentnickel.com/?p=3724#comment-137352 It's important, I believe, to pay the premium for quality for those things which you're going to get a lot of use out of. I like to buy quality shoes, from Redwing or Florsheim, because they'll wear forever, and provide maximum comfort. When buying tools, if it's something I'm going to use over and over again, I'll spring for Craftsman or Snap-On, but if it's something I'm only gonna use once, I'll buy the cheap version from Harbor Freight. Appliances and home furnishings, it's best to pay for a little extra quality, if you hope to get five, ten, or twenty years use out of it. It’s important, I believe, to pay the premium for quality for those things which you’re going to get a lot of use out of. I like to buy quality shoes, from Redwing or Florsheim, because they’ll wear forever, and provide maximum comfort. When buying tools, if it’s something I’m going to use over and over again, I’ll spring for Craftsman or Snap-On, but if it’s something I’m only gonna use once, I’ll buy the cheap version from Harbor Freight. Appliances and home furnishings, it’s best to pay for a little extra quality, if you hope to get five, ten, or twenty years use out of it.

]]> By: Daniel http://www.fivecentnickel.com/2009/12/24/paying-for-quality-saves-time-and-money/comment-page-1/#comment-137350 Daniel Thu, 24 Dec 2009 13:15:38 +0000 http://www.fivecentnickel.com/?p=3724#comment-137350 I say go cheap for the small things and go quality for the big ones. That way you limit your liability for poor quality while saving money. I say go cheap for the small things and go quality for the big ones. That way you limit your liability for poor quality while saving money.

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