Sometimes spending more saves you money in the long run but is it always worth it to splurge? Probably not, at least it isn’t in my opinion.
Same Products Different Prices
A lot of the time when I post my “save or splurge” segment on Instagram, the products I have my followers choose between which is the “splurge” are the same exact products from two different retailers and at two different prices. When you have two exact products, and one costs less, please buy the cheaper of the two. It doesn’t make sense (at least it doesn’t to me) to spend more for the EXACT product when you can pay less and save a few bucks.
A lot of retailers will sell the same exact product with a different name and a completely different price tag. Why? Because marketing, often has to do with the manufacturer and the retailer itself. The retailer decides how much they want to profit off an item; they will price an item that way. May not seem fair but retailers have the right to adjust pricing how they see fit. This is why I always recommend doing some research before you purchase something because there is a chance you can find the same exact product elsewhere for cheaper.
I love this Save or Splurge example, it’s the exact same product with two different price tags. Is it worth it to buy the $286 version? That’ll be a no from me! This also shows how important it is to do some research before you buy ANYTHING because it’s possible to find the same product for cheaper somewhere else. Don’t pay more if you don’t have to!
Splurge on Permanent Items
There’s a difference between buying the “dupe” and finding the exact same product elsewhere with a better-looking price tag. Sometimes the dupe isn’t the exact color you’re looking for or the material is cheaper than the more expensive version, in this case, it’s fine to splurge a little. However, it’s worth it to buy the dupe if you’re looking for something that is temporary. Why sell your soul to afford something that will be replaced soon? It wouldn’t be worth it. Splurge on items that will have a permanent place in your home and last you as long as possible.
Opt to DIY If You Can
Doing it yourself is the best way to save yourself loads of money. My favorite part of DIYing is the learning aspect but this also allows you to take a product you love and alter it to make you love it even more. I spend a lot of my time scouring the internet for home decor and furniture so I have seen a lot of products that are $100+ but can easily be made for less than $50 dollars. One of the reasons why I love DIY is because sometimes the full-price version is just. not. worth. it. I recently came across a batten back wood paneling for $399 which was only 23.5 inches wide. Can you imagine how much money you would have to spend if you bought this product for just an accent wall alone? Way too much!
Splurging Once in a While is Okay
That’s right, it’s okay to splurge! Splurging on something you can’t get your mind off of or something that is a limited edition that you may never see before, in these cases, it is justified to splurge all your money without looking back.
You can visit my shop on LTK to find more jaw-dropping save or splurges, click here.
Until next time!