andresr | E+ | Getty Images
If you’ve been eyeing a designer handbag or expensive mattress, you may be able to buy it guilt-free.
Experts agree there are times when it pays to spend more money on certain items, instead of going for the cheapest option.
Sam Dogen, founder of the personal finance website FinancialSamurai.com, began saving his money as soon as he started work in order to retire early. He lived a frugal lifestyle, rarely treating himself to new things. However, he soon realized it made sense to pay more at times for some products.
“I’ve never regretted paying up for quality,” said Dogen. “It’s much better to have a few quality items than a ton of mediocre quality items that clutter your house.”
The same tactics can apply even if you aren’t aiming for an early retirement. However, it’s essential to strike a balance.
If you have…