Most believe that the purpose of budgeting is to make sure you have your finances in order. You take what you make and from that, you monitor what you spend. Many try to find out how to reduce their expenses by as much as possible. Is that the best way? Some say buying quality over quantity is more cost-effective. The ‘Buy Once, Cry Once’ mentality in budgeting may cost more upfront but can save you a ton in the long run.
What is the ‘Buy Once, Cry Once’ Mentality?
Buy once, Cry once simply means valuing quality over price. It means that you can purchase something one time, and it will withstand the test of time. I understand the importance of cutting corners here and there to save a buck. I used to be that type of person. But the ‘Buy once, Cry once’ mentality is now ingrained in me.
For example, instead of buying a cheap, poorly made winter jacket for $20, look at purchasing something from a quality brand. Yes, it might cost five times as much, but chances are it will easily last you five times longer. Additionally, you’ll be happier with it in the end.
Another example would be buying an expensive cooler. Many high-end coolers have recently flooded the market, but the appeal in them comes from their longevity. You buy one of these coolers once (cry because of the high price) and you never have to purchase another cooler again.
Buy Once, Cry Once Mentality in Budgeting
So now that we have wrapped our heads around the ‘Buy once, Cry once’ mentality, how does it fit into budgeting?
If you ascribe to this mantra, then you know your budget is going to take quite a hit. After all, paying for quality is not a new idea. In terms of budgeting, you should plan on this expense being a once a year expenditure. For example, if you are buying a new winter coat, allot yourself extra money around the November/December time frame in your budget to accommodate the extra expense.
Think of it this way, a one-time expense for a quality item can easily turn out to be a better value over time than having to budget to purchase that particular item, of lesser quality, on a yearly basis.
How to Get Quality at a Lower Cost
Even though you are going to spend more upfront with this approach, you can still find quality at a decent cost. Just because you want to buy quality products does not mean you have to buy the most expensive option. You can save a lot of money by doing some research before you spend anything. Compare product reviews and shop around for the best deals. Depending on what you are shopping for, you can likely find excellent deals with seasonal offers.
Another way you can stretch your budget is to find second-hand items. With online marketplaces and sales becoming more active than ever, there is a good chance you can find used products for a great price. If possible, take some time to explore used options before you blow your monthly budget.
Shifting your mind to purchasing something based on quality over price can reap many financial benefits in the future for oneself. The ‘Buy once, Cry once’ mentality in budgeting may be hard to grasp at first, but once you do I can assure you that you’ll ultimately be satisfied. By creating a free monthly budget, you too can be on your way to financial independence.
Budget Smart, Invest Wise
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