Sometimes, spending more is cheaper

Posted by Tad Johnson - Mar 17th, 2008 at 19:03

As a vicenarian, and reader of this site, you’ve heard the same adage before : spend wisely, save money, and you’ll end up rich. This equation works well, but that first point is often the hardest to master.

suit.jpgOne common mistake in spending wisely is thinking to always spend less. In many cases, spending less is actually counter productive–to put it another way, you can actually save money by spending more.

The difference, as you might guess, is quality. Often, you’re faced with the choice of spending $5 on a cheap item, or $10 on the more expensive version. You might reflexively reach for the former, and you might be wise to do so. The key question is, will the more expensive item last twice as long (or longer)?

Trouble is, it’s not obvious which items are worth the premium and which aren’t. I’ve written on these pages previously about generic brand food, which is an example where the cheaper version is a great bargain. By contrast, men’s business ware is an area where spending more can save you money in the long run. (I chose men’s clothing over women’s because that’s what I know. By all means, please educate me in the comments.)

When I was graduating from college and ready to start interviewing, I tried to save some money on buying nice clothes. I bought a suite, some shirts, and a few ties at the Men’s Warehouse. Big mistake! Sure, I spent less than I would have at a nice department store, but I ended up with less-than-high quality clothes. The shirts wore out quickly and the slacks already busted a belt loop. (And the tailoring wasn’t exactly top-notch either!)

Fortunately, a good friend of me steered me in the right direction. Since I started working, I’ve been buying dress shirts at Brooks Brothers. I pay a little more for each shirt, but they last much longer, fit well, and are visibly well made. By spending a little more up front, I’ve easily saved money over the long run.

What are your suggestions for buying quality vs. price? Share your experiences in the comments below.

6 Comments »

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  1. You leave out the ever important cost/use ratio. Do you invest in a $600 winter coat you’ll wear 120 times a year for 5 years because you experience Chicago winters? What if you live in Los Angeles and you’ll wear that coat 5 times a year over 5 years?

    If I live in Chicago, that $600 coat is worth every penny if it keeps me toasty. LA, not so much.

    I would also like to note that Dryel and other do-it-yourself dry cleaning kits work wonderfully. I only go to the dry cleaner when I manage to stain a cashmere sweater or the like; it’s just not worth the battle and potential damage to the sweater.

    Comment by zak — March 18, 2008 #

  2. I’ve done this with shoes.
    I used to look for cheap-and-chic shoes, but these are awful for work. They’re usually uncomfortable to walk around all day and they wear out soon.
    I now think of buying shoes as an investment on my feet. I’m willing to pay more for a pair, but I make sure they’re not uncomfortable and look for the more classic wear-them-with-anything-for-work models, so I can use them more often.
    It’s awful having to sacrifice really neat models, but if you look around for a while, you find good deals that fit with all the requirements…

    Comment by DP — March 18, 2008 #

  3. Zak - I’ve been curious about the DIY dry cleaning. Since I’m a big fan of wool sweaters, I’ll have to give that a try!

    DP - Good call on the shoes. Comfortable feet are definitely worth a few extra dollars at the shoe store.

    Comment by Tad Johnson — March 18, 2008 #

  4. As the ever-appreciative recipient of this very piece of fashion advice, I can say that I was about to go the same route and buy a cheap suit, hoping a few successful months in my new career would give me the footing to dress for success later on.

    . . .And then I emerged from the dressing room, was berated by my roommate, and three hours later ended up with a suit that would make Condoleeza Rice blush.

    I’ve never looked back, because every time I wear that suit I can count on the fact that not only am I probably better dressed than the HR person interviewing me, I also look considerably more qualified for the position than I actually am.

    Thanks (former) roomie,

    Melissa

    Comment by Melissa — March 22, 2008 #

  5. […] people are, invest in Brooke’s Brothers wrinkle free shirts.  I know a ton of people (like my buddy Tad) who swear by these […]

    Pingback by Newly Corporate » Blog Archive » Business Casual - Men’s Clothing as a Young Professional Part 2 - Shirts — April 24, 2008 #

  6. […] a lot of people are, invest in Brooks Brothers wrinkle free shirts. I know a ton of people (like my buddy Tad) who swear by these […]

    Pingback by Men: Absolutely Everything You Need to Know About Buying Shirts for Work : Brazen Careerist — April 25, 2008 #

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