I’m too poor to buy cheap things.

Our life is a sum of purchases, mostly intended to ensure our daily comfort. However, purchases can be classified according to current needs or personal desires, and we are often faced with personal choices. Quality, price, need, each of these things contributes to the decision we make in relation to our money. So, what do we actually do, buy or save?

Too poor to buy cheap or a long-term investment?

If we discuss from the point of view of financial education principles, we will find that it is best not to do things by halves. Sometimes, choosing the cheapest things will lead to higher costs than if you choose a quality product from the start. If we take, for example, the case of clothing items, you will see that in fact a quality garment will last longer than a garment 3 times cheaper. The quality of the fabric, the finishes and the overall assembly will lead to a long-term investment and a saving in expenses. In short, you could not buy a new coat for 3 years, for the simple reason that you invested in a quality coat.

Yes, higher costs often reflect quality, and this principle should be well understood since childhood. A healthy education is needed in this regard, financial education for children, which forms the foundations and skills of saving and those of the concept of investment. Here you have one of the books in ebook format of financial education that I recommend if you want to work in this direction with your children.

If a professional seems expensive, it means you don’t know how much an amateur costs you

The principles of financial education have ramifications even further, in everyday life, at the level of purchased products and services. When it comes to money, we are always careful to save, because these personal finances ensure our livelihood. So we often try to negotiate a better price, sometimes even in certain segments where we should accept the price as the intrinsic value of the service.

Managing money, in the context proposed by financial education, does not imply a decrease in the quality of life, but investing it in quality and comfort or even in products and services that will in turn produce money. Consequently, when you turn to professionals for certain services (plumbers, electricians, accountants, etc.) you should also see a little of the value beyond the price. You should give up the idea of ​​reducing costs in order to survive and embrace the idea of ​​saving by investing in quality.

This principle of financial education is a healthy one, which you can pass on to your children, along with a personal example that will help you evolve. Information about saving, investing and other principles of financial education can be found in the printed book Mărunțilă și Bancnoțilă. https://www.psihologiabanilor.ro/product/maruntila-si-bancnotila/

The conclusion is that the mentality of consuming as little money as possible may not be the most appropriate if you want to enjoy a comfortable life from a financial point of view. It is advisable to analyze the costs and relate them to the desired quality level, but also to keep in mind the healthy principles of financial education that will help you evolve.

The book Mentality and Actions in Children’s Financial Education – Guide for parents, in ebook format, can help you better understand all these things so that your money can be used correctly.