Quote:
Originally Posted by Malloric
Hitting the middle ground is usually where the best value is. I'm sure a $5000 Kiton suit is going to last a bit longer than the crap you can pickup at Mens' Warehouse for $200. It might even last 25 times as long, provided you don't get tired of the suit, the moths don't eat it, it doesn't get ripped or stained, or you don't get fat. But that likely depends on wear. I still have the $300 suit I bought when I was a junior in college. Expecting the Kiton to last 150 years seems... excessive. To mention nothing of present value.
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I agree with this. You have to factor in everything. If I am not thinking too hard about a purchase, I tend to favor the middle model. Too expensive, and it has extras that can break or that I don't need. Too cheap and whatever it is might not last very long or give good service. However there are exceptions to everything.
We bought very fine furniture in 1970. We were able to get good deals, but still the stuff was pricey. The living room furniture was ditched when the new house we moved into had trouble accommodating the end tables and long sofa--about 18 or so years after purchase. The bedroom set lasted over 40 years, but I was so tired of it! So, the purchase might have been for a lifetime, but circumstances and tastes changed.
I still look for quality in major purchases though. I hate buying junk. I've even become, in my old age, picky about jewelry. I simply don't want to wear cheap.
For me frugality is about value and restraint. I don't have to have my every desire. And I don't want to spend money on junk.