The Folly of Buying Things Twice
I thought we'd already explored every false spending move possible on this blog, but then my cousin, the coffee drinker, showed me his special way of wasting money. It was new to me: he buys some things TWICE.
The Car
In May of '09, after a year of being car-free, he bought a 1997 Dodge Dakota Sport for $1,200 even though he REALLY wanted a Ford Crown Vic. "Had to have something," he said. An acceptable Crown Vic would've cost $3,000-$4,000, but he didn't have that much saved up. The truck was in poor condition, and shortly needed major repairs to the tune of another $1,000 (which was a real hardship for him to pay). Now, he wants to go ahead and buy the Crown Vic. He stands a snowball's chance in hell of getting the original $1,200 out of the Dakota Sport, and don't forget the repairs. I figure he's out $1,200-$1,400, not to mention the 2 tires he had to buy, and all the gas and oil he could've saved if he'd just waited and bought the car he wanted.
The Shoes
If you have good feet, be thankful for them, because Cuz has TERRIBLE feet. Calloused, misshapen, ungodly-smelling feet which often cause him pain. I pretty much fixed the odor issue about 2 weeks ago. He came over, and I ripped the New Balance 992s & socks off his feet, washed them, dried them, and hosed them with disinfectant fabric spray. In the meantime, he was soaking his feet in a vinegar solution. Then, we slathered his hooves in milk of magnesia (HIM: "Wait! This is a laxative!" ME: "Don't worry, you're gonna put it on your feet.") which is supposed to act as an antiperspirant. Google it.
When I saw him at a family function last weekend, he was wearing new All-Star knock-offs instead of his old 992s. He decided the real problem was that the 992s were infected. Since he couldn't afford the upgraded 993s, he bought some cheap-o shoes until he could afford the New Balance. By the end of the day, his feet were killing him, and he asked if I would go to the New Balance store with him. On the way he told me this story...
The Computer
Cuz desperately wants an Apple computer. He has very specific software needs, has done his research, and determined that he could really use a MacBook Pro (laptop). However, he could get away with the cheaper iMac (desktop). I pointed out that since he's freelance, he'll probably get more usage out of the laptop, which he can take to meetings with clients to give presentations. He just wasn't getting it until I pointed out that a laptop should last around 4 years, and was I going to have to hear him complain in ONE year that what he should've bought was a laptop? That seemed to get his attention.
I used the opportunity to explain that he buys things twice. He wants something nice, but instead of saving up, he just buys the cheapest version. In short order, he finds the item is poor quality, and/or won't work for him, so he goes out and buys the nicer item, too. This process is costing him 25%-50% more on his major purchases than the rest of the population, but he does it because he's trying to be thrifty!
As we walked and talked he would occasionally wince, ask me how far we were from the store, and exclaim that buying everything once was a revolutionary idea that was going to change his life.
At the store, he found a pair of 993s on sale. I bought him insoles, and I negotiated a $10 discount from the salesman. Cuz walked out feeling better, and hopefully, has a new perspective on his purchasing behavior.
The Car
In May of '09, after a year of being car-free, he bought a 1997 Dodge Dakota Sport for $1,200 even though he REALLY wanted a Ford Crown Vic. "Had to have something," he said. An acceptable Crown Vic would've cost $3,000-$4,000, but he didn't have that much saved up. The truck was in poor condition, and shortly needed major repairs to the tune of another $1,000 (which was a real hardship for him to pay). Now, he wants to go ahead and buy the Crown Vic. He stands a snowball's chance in hell of getting the original $1,200 out of the Dakota Sport, and don't forget the repairs. I figure he's out $1,200-$1,400, not to mention the 2 tires he had to buy, and all the gas and oil he could've saved if he'd just waited and bought the car he wanted.
The Shoes
If you have good feet, be thankful for them, because Cuz has TERRIBLE feet. Calloused, misshapen, ungodly-smelling feet which often cause him pain. I pretty much fixed the odor issue about 2 weeks ago. He came over, and I ripped the New Balance 992s & socks off his feet, washed them, dried them, and hosed them with disinfectant fabric spray. In the meantime, he was soaking his feet in a vinegar solution. Then, we slathered his hooves in milk of magnesia (HIM: "Wait! This is a laxative!" ME: "Don't worry, you're gonna put it on your feet.") which is supposed to act as an antiperspirant. Google it.
When I saw him at a family function last weekend, he was wearing new All-Star knock-offs instead of his old 992s. He decided the real problem was that the 992s were infected. Since he couldn't afford the upgraded 993s, he bought some cheap-o shoes until he could afford the New Balance. By the end of the day, his feet were killing him, and he asked if I would go to the New Balance store with him. On the way he told me this story...
The Computer
Cuz desperately wants an Apple computer. He has very specific software needs, has done his research, and determined that he could really use a MacBook Pro (laptop). However, he could get away with the cheaper iMac (desktop). I pointed out that since he's freelance, he'll probably get more usage out of the laptop, which he can take to meetings with clients to give presentations. He just wasn't getting it until I pointed out that a laptop should last around 4 years, and was I going to have to hear him complain in ONE year that what he should've bought was a laptop? That seemed to get his attention.
I used the opportunity to explain that he buys things twice. He wants something nice, but instead of saving up, he just buys the cheapest version. In short order, he finds the item is poor quality, and/or won't work for him, so he goes out and buys the nicer item, too. This process is costing him 25%-50% more on his major purchases than the rest of the population, but he does it because he's trying to be thrifty!
As we walked and talked he would occasionally wince, ask me how far we were from the store, and exclaim that buying everything once was a revolutionary idea that was going to change his life.
At the store, he found a pair of 993s on sale. I bought him insoles, and I negotiated a $10 discount from the salesman. Cuz walked out feeling better, and hopefully, has a new perspective on his purchasing behavior.
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6/2/2010 4:04 PM
CHICAGOCHEAPSITE.COM wrote:
The Folly of Buying Things Twice made the Festival of Frugality #232. Not only that, it was one of the editor's top picks! ... -
10/28/2010 10:40 AM
CHICAGOCHEAPSITE.COM wrote:
Hey! Chicago: cheap! passed its second anniversary, and I didn't even notice! Like we did last year, let's review this year's tips for saving money. Seek out cheap rent. My rent is high for a studio because I have a certain expectations: good condition apartment, building amenities, location... but it's still cheaper than a one-bedroom in similar condition and location. After being offered a rent freeze, and unwilling to compromise for a lower quality apartment, I decided to stay another year. See other tips on getting the most bang for ...
It is a common problem of many people that when they get some money they don’t know how to spend it profitably. They just waste the money by spending it for some useless things. This post is about a person who has the similar character. With the aim of saving money he just goes and purchases the cheapest things. After some days he won’t be able to use it because of its poor quality. So he purchases a new one of good quality. Thus he spends twice for the same product.
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