[Mornin’ y’all! Got an awesome (and funny!) guest post today from personal finance legend Pete over at Do You Even Blog. Pete talks about the “Buy It for Life” Movement and why spending just a little more money on higher quality stuff ends up saving you more in the long run. Enjoy!]
“Excuse me, sir, is that this your youngster?” she requested.
I’m kneeling down in the course of Wal-Mart, searching for chapstick, when a woman faucets me on the shoulder.
“Oh my, sure! Thanks! I used to be simply…um…sorry.”
It was my youngster.
He had wandered off in some unspecified time in the future within the earlier TWENTY MINUTES after I had been evaluating costs of chapstick.
Sure, 20+ minutes.
I, Pete McPherson, am a cheapskate.
My father’s a cheapskate, and his father earlier than him. It’s in my blood.
However the excellent news? Being low cost saves me cash…
WAIT, does it?
Does being low cost really save me cash?
Reply 👉 Typically being low cost prices me cash.
Introducing the “BIFL” motion (Purchase It for Life)
After I married my spouse, I couldn’t wrap my head round how she may spend $300+ for a ski jacket.
“This $300 jacket will final me for DECADES, if not the remainder of my life. I gained’t have to purchase a brand new one each few years LIKE YOU.”
It was true.
I used to be infamous for purchasing low cost stuff (particularly garments) that may solely final just a few years earlier than I’d slog miserably to the shop to purchase a (low cost) alternative.
Fortunately, like all good marriages, my spouse started to put on off on me. 😉
For the previous 5 years, I’ve been working onerous to vary my buying habits from certainly one of “avoid wasting cash now” to “save MORE cash over the long term and in addition personal higher issues.”
“Purchase It for Life” is now my obsession.
However earlier than I share some enjoyable BIFL gadgets, listed here are 4 ideas behind the BIFL philosophy.
BIFL Idea 1 – Search for Lifetime Ensures
In case your Darn Robust socks put on out 20 years from now, you’ll be able to return these unhealthy boys and so they’ll substitute ‘em.
If the JanSport backpack you wore in MIDDLE SCHOOL is coming aside on the seams, they’ll repair it for you without spending a dime.
Did you purchase brake pads to your car? It is best to have the ability to return to the shop you got them from and get free brake pads perpetually. Most individuals don’t understand they’ll alternate brake pads for all times.
- L.L. Bean
- Eddie Bauer
- Duluth Buying and selling Firm
Each firm’s “lifetime” guarantee is a bit totally different, but it surely’s value attending to know which firms supply actual lifetime warranties!
A fast Google search yields 15-20 extra manufacturers that’ll provide help to lower your expenses in the long term.
BIFL Idea 2 – Search for Modular Gadgets
“Modular” on this case means shopping for gadgets with elements you’ll be able to substitute individually.
Sure, I personal a $330 drip espresso maker (extra on this under).
But when something ever breaks or wears out, the system is modular. I don’t want to purchase an entire new espresso maker, I can substitute the one half.
I construct my very own computer systems and keyboards (#nerdalert), that are modular. It makes it simple (and cheaper) to replace and improve them, as I can merely improve one half.
BIFL Idea 3 – Obsess Over High quality
Warranties apart, high quality merchandise typically simply last more.
Sure, high quality is dear, however keep in mind what we’re going for right here: long-term financial savings!
I swear – I’ll NEVER purchase one other kitchen equipment from Wal-Mart. It’s like they’re engineered to fail after a yr.
Discover high quality items. Extra bang to your buck.
BIFL Idea 4 – “Purchase It for Life” Gadgets Will Additionally Make You Happier
And I don’t simply imply “Oh I purchased a very costly jacket and now I’m glad!”
I imply long-term satisfaction.
That feeling that you’re spending your cash correctly (and possibly serving to the surroundings, too, although that’s a subject for an additional day).
Proudly owning nicer issues is enjoyable too. 😉
Right here Are Some “Purchase It for Life” Gadgets for Inspiration 👇
The Technivorm MoccaMaster Espresso Brewer
At $350, even my savvy spouse complained about my new drip espresso machine.
She has since caved and admitted it was completely value it (and in addition admitted I’m a bonafide genius husband).
The Moccamaster is THE. BEST. HOME. COFFEE. DRIP. MACHINE. On the planet. (Simply belief me, I’m obsessive about dwelling espresso).
It’s additionally modular and backed by a 5-YEAR guarantee.
Darn Robust Socks ($20-25ish a Pair)
I hate carrying socks, primarily as a result of I’m often too low cost to exchange those I’ve (with holes in them). >_
However some time again I fired off a tweet asking for sock suggestions, and the outcomes had been clear: Darn Robust Socks.
(Sam from Authorities Employee Fi changed his after 11 years??).
- Top quality (although they run small in my expertise. I purchase one measurement bigger than regular)
- Glorious choice
- Lifetime guarantee
I’m now a loud-n-proud proprietor of two pair.
Queue the Workplace House quotes!
It’s foolish, sure, but it surely’s additionally a kind of “This stapler is a BEAST that my grandmother gave me, and now I’m giving it to you, grandson…” gadgets.
And it solely occurs each few months, however MAN is it annoying when a stapler doesn’t work. Why is that? I feel perhaps as a result of it’s such a easy process. 😉
Patagonia Winter Put on
For these, you’ll be able to thank my spouse and her huge expertise with chilly climate.
It was once The North Face, however their high quality appears to be going downhill lately.
Now, it’s Patagonia.
Except for being typically top quality, additionally they have a pleasant restore coverage (you’ll be able to usher in any Patagonia merchandise into any Patagonia retailer and so they can do small repairs, or you’ll be able to ship it to them for bigger repairs or a patch package!)
A Mechanical Keyboard
Okay okay okay…this one is much less of a long-term money financial savings (how typically have you ever been changing your keyboard?), however extra of a quality-of-life enchancment that’ll final a very very long time.
I bought my first mechanical keyboard when my Apple keyboard bought a number of sticky keys, and it’s truthful to say I’m OBSESSED with them at this level.
- Are modular!
- Approach means far more sturdy and dependable than regular keyboards
- Customizable, enjoyable and pleasurable to kind on (FYI, they don’t have to be loud and annoying. Seize one with linear switches!)
They WILL last more than regular keyboards.
Wanna be taught extra? I wrote a weblog put up on this 👉 What’s a mechanical keyboard? A easy information to variations and advantages.
Simply TRY to interrupt ‘em.
I inherited some historic Corelle dishware from my grandmother (they had been uber-old and uber-ugly), and at first I hated them.
However they had been light-weight and insanely sturdy.
We’ve since upgraded to newer Corelle (that had been designed on this century) and couldn’t be happier.
NOTE: Pottery Barn dishes are a “by no means once more” buy in our family. These are the reverse of BIFL. Ours began chipping in yr 2 on the slightest contact, and so they’re costly as well!
Pyrex stuff (identical firm as Corelle!)
When you’ve had Pyrex bakeware, you already know.
That stuff lasts!
Yeti Coolers (or Stanley chrome steel thermos)
Two years in the past I spent $60-ish on an off-brand cooler from (you guessed it) Wal-Mart.
I then proceeded to buy a number of luggage of ice EVERY DAY of a 3-week tenting journey.
Then the deal with bought caught.
Enter the BIFL cooler: Yeti.
Y’all have NO IDEA how onerous it was for me to throw down $350 for a cooler–however now that I’m utilizing it, I’m always reminded that it’s a long-term funding!
I spend far much less on ice (talking of me being low cost, it’s foolish how a lot bagged ice runs), and I’m hoping to get many years out of the Yeti.
Available in the market for a thermos?
Seize a chrome steel Stanley model (they’re apparently inexpensive, although I wouldn’t know. I’ve been utilizing my father’s Stanley from the Eighties).
NO FURNITURE from Ikea
Look, I really like me some Ikea.
The place else are you able to seize a sofa, rug, and coasters-you-didn’t-really-need for underneath $400?
However in my expertise, Ikea furnishings is reasonable for a motive: It merely doesn’t final.
EXCEPT: glassware from Ikea. My spouse has had the identical consuming glasses for greater than 15 years at this level, so perhaps the glass stuff from Ikea is formally BIFL.
I personally don’t personal a Miele, and they’re positively costly, however I’m always seeing them talked about as BIFL vacuums.
However other than Miele, I CAN converse to the very fact low cost, off-brand vacuums are the WORST in terms of put on and tear.
We purchased a “Dyson-alternative” off-brand just a few years in the past. We saved $100ish, however the factor sucks (and never within the vacuum means. It’s falling aside and now we have to purchase one other one).
Fiskars Instruments and Garden Gear
Need instruments to go all the way down to your grandkids someday? Purchase Fiskars.
Wusthof Kitchen Knives
Each time I go to my dad and mom, I’m appalled by the dullness of their kitchen knives, and my father typically comes at me with “I don’t need to purchase a brand new one!”
When you do any cooking at dwelling (and I’d argue you must), having a dependable, sharp chef’s knife is every thing.
There are many nice manufacturers, however Wusthof strikes a great steadiness of affordability and sturdiness.
PRO TIP: Put money into a knife-sharpening package! They’re low cost and actually make knives like Wusthof BIFL.
Purple Wing Boots
One more firm with a status for high quality garments, or on this case, work boots.
Additionally they supply “a la carte” repairs from their web site the place they’ll substitute or restore particular elements of the boot (which is cheaper than a “customary” restore), and so they have a lifetime guarantee.
Why on Earth would you spend $70 on a belt?
Effectively, so you’ll be able to keep away from spending $20 each 7 years for the remainder of your life. 😉
Hanks leather-based is the best way to go.
However What About You? What Are Your “Purchase It for Life” Purchases?
What manufacturers do you willingly pay extra for?
Drop us a remark under with a advice or two!
Pete McPherson is the founding father of Do You Even Weblog, an award-winning weblog, podcast, and YouTube channel devoted to serving to creators construct impactful (and worthwhile) companies on the Web.
He has interviewed among the high entrepreneurs and creators on this planet, (together with Jamila Souffrant, J.D. Roth, Tanja Hester, and plenty of different superior private finance of us!)
Joel is a 35 y/o Aussie residing in Los Angeles and the man behind 5amjoel.com. He loves waking up early, discovering methods to be extra environment friendly with time and cash, and sharing what he learns with others. Rise Early | Retire Early!