| February 2010 |
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When it Pays to Spend More Money, Not Less You’re always reading about how to save money, which is great, but there are a few instances when it’s not only okay to spend more money, it’s recommended. Here are five tips on when you should consider spending more money than the less expensive alternative, because in the long run, you’ll come out ahead. 1. Consult with an expert When making a financial purchase of a significant amount, sometimes it is worth paying for good advice from a professional experienced in that particular area. An attorney, tax adviser or financial adviser can provide you with important advice that you may never have considered. Exploring the Internet and visiting various Web sites may also not be the wisest move. Yes, the information you may find is free, but if you are making an important decision, it's worth seeking the advice of an expert.
2. Create an emergency fund Any amount of money that can be saved is critical, because you never know when you’ll need the funds for an emergency, so we each need to prepare right now.
3. It’s okay to treat yourself once in a while Buying a $5 ice cream once a month is a good idea even when times are lean because everyone can use a little treat now and then. The quick treat helps to avoid feeling deprived and is a good morale booster especially if a group is involved.
4. Paying for some services frees up time It’s always a good idea to save money, but sometimes, you should avoid over-scrimping. Housekeeping is one area where this is true. It can make perfect sense to pay someone to clean your home and save a half day of work while you take your family to the park or outdoor event. Consider this time spent as enhancing the quality of your life.5. Save with comparison shopping It’s always a good idea to invest some time to do some comparison shopping. By spending just a few minutes on the Internet comparing prices from various companies, you can save $50, $60, $70. That savings is like money you have just earned.
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