Price Vs Value

When consuming goods, it is all too easy to be blinded by their price, to the detriment of the evaluation of their utility value. When shopping, a glimpse into the bargain bin will remind people of how they made countless impulse purchases on "cheap" goods, only to find the same goods piling up in their storerooms. Strange, how low priced goods can represent such poor value.

I think the trick to spending wisely is not just to spend as little as possible, but to spend as little as possible on goods you actually need. That is, to learn to evaluate the "value" goods have when they're in your possession.

Ironically, getting better value may occasionally involve buying items that are more expensive than their alternatives. The thought seldom occurs to the budget-minded because it's just so counter-intuitive. Still, it must be remembered that the economy is not perfect, and some goods are simply "better" than others, with "better" being a subjective value known only to the consumers...