Is there anything in your wardrobe or household that you're confident will stand the test of time? An MSN Money article called "Should you skimp . . . or splurge?" doubts our ability to judge the value of quality things, and points out that our preference for disposable goods is related to credit cards. Dayana Yochim, a writer at The Motley Fool, brings up some interesting points.
Credit cards let us instantly satisfy our retail desires. Our grandparents had to delay that gratification. They figured that if they had to save for it, they'd better get the best they could. Now retailers want to catch that fleeting desire. We're looking at pricing before quality.
The article offers some suggestions on where to skimp by purchasing items that aren't the best of their kind, and where to splurge by investing money in items that will last.
- Splurges: Mattress, eight-inch chef's knife, overcoat.
- Skimp: Men's dress shirts (as long as the suit is well-tailored), women's shirts (especially the trendy stuff), accent chair, table linens.
Do you agree with the article's recommendations? Where do you usually skimp or splurge?