5 Places Where Spending Money = Saving Money

Posted by Kevan Lee :: June 17, 2008 @ 1:00 pm

Sound money advice has no sense of irony.

Spending money in order to save money seems contradictory, inconsistent, and just plain wrong. Saving and spending are opposites. How could they ever be complementary?

Though it may seem impossible, practicing sound spending can save money in the long run. Skimping on purchases or decisions today can lead to bigger problems down the road, which is why a little preventative medicine and a few extra dollars could be a very wise investment. Still skeptical? Take a look at the following five ways that a dollar today saves ten dollars tomorrow.

1. At the car lot.

Car shopping is an expensive endeavor no matter the circumstance. You are often talking thousands rather than hundreds when it comes to car buying. In a sense, then, what difference will a little bit extra make?

The dent in your wallet will feel insignificant compared to the long-term results. Upgrading a car from a junker to less of a junker might seem pointless in the present, but when parts start failing and gears start creaking, you will be glad you did. Spending on a reliable used vehicle can be a sound purchase, especially when considering the consequences. Bills for auto repairs are steep, which is why it is best to ensure that you are purchasing a car that is in decent shape and will hold up as long as you’ll need it. That is worth the extra money.

2. At the veterinarian.

People love their animals, but they also like to skimp on their animals’ vet bills. An extra lab test or a harmless medication get shrugged off more often than you might expect.

It is these same owners who, a few months later, end up spending significantly more money on a problem they could have avoided in the first place.

Paying up front for extra services like blood work or flea treatment is a prudent decision. With lab results, a doctor can tell if there is a problem on the horizon or a necessary adjustment to avoid future issues. With simple medications like flea treatments, you can save yourself from the cost of a more serious illness or infestation. The money spent on preventative medicine is often far less than the money spent on emergency problems.

The same advice could be given to human medicine, too. Society is constantly concerned with researching and discovering the symptoms of disease, but when the rubber meets the road, people are often hesitant about ponying up for extra services at the doctor’s office. If it works for pets, it will work for humans. Knowing where you stand health-wise can save time, money, and headaches down the road. A few extra dollars at a routine check-up could help you avoid hundreds of extra dollars at an urgent return trip.

3. At Costco.

Fortunately, this lesson in pre-emptive payment is already pretty popular. Warehouse stores like Costco offer consumers the chance to load up with bulk products, which helps cut down on constant trips to the supermarket for the same, small item. Buying in bulk is chic; it is also forward-thinking.
Like the rest of the items on this list, spending at Costco is a perfect example of the “spend now, save later” tenet. Let’s say a vat of peanut butter costs $14.95 at Costco, and a jar of peanut butter runs $3.99 at the grocery store. Frugal Frannies might see the cheaper alternative as the better deal, but that would be short-sighted. While they are running back to the store for their tenth refill of PB, Costco shoppers are still dipping their ladle into their peanut butter kiddie pool.

Similar savings is everywhere at stores like Costco. Nearly every household item from the kitchen to the closet can be had in bulk at warehouse prices. The initial hit to the wallet might be steeper than at the grocery store, but the frequency of trips will make up for the difference.

4. At the appliance store.

Refrigerators, washers and dryers, stoves, and dishwashers are important everyday items that often get overlooked in a home. Until something goes wrong. When problems strike, the cost of repair or replacement all of a sudden makes a wallflower appliance very noticeable.

To combat this trend, you should consider paying for a quality product the first time. Rather than going the cheap route on a product that gets routine use, the better decision would be to find one that can stand a consistent grind and last as long as it’s needed. Constant repair costs will add up, and before long, the money spent on a handyman will exceed the cost of upgrading in the first place.
On top of the repairs, buying a quality appliance can have a positive monetary effect on utility bills. EnergyStar appliances are created to use less energy than other machines, which is not only great for the environment but is also great for consumer savings. Rather than having a dishwasher that gorges itself on your water supply, a high quality machine will use as little water as possible and still get your dishes looking great. The lesser utility bills should pay for the upgrade in no time.

5. At the dentist.

Dentists get a bad rap. No one likes to visit them because of all the awful things they do to people’s mouths. Drills and enamels and braces! Oh my!

Yet most of the ruckus they raise is a direct result of irresponsible clients. Taking a pass on regular check-ups is a big reason why people get cavities and other dental issues. Sure, the thought of teeth probing is uncomfortable, but compared to the pain and cost of a root canal, a tooth exam is downright exciting.

Spending the money on a regular check-up at the dentist will help you avoid having to come back with a more serious problem. Dentists can catch problems before they start and keep you from running into trouble down the road. They want you to have healthy teeth, and they want you to save money in the long run. Besides, you can’t avoid them forever.