Phil's Financial Tip of the Day:
Save or Splurge: 7 Items That are Worth the Extra Money
On Dave Ramsey.com today the following article made me think that car maintenance should also be on this list.
From Dave Ramsey.com
One of the “must-have” aspects of Dave’s plan is health insurance. Why? You spend a little money now to avoid paying a lot of money later.
In general, that’s probably a good idea for your entire financial plan. When buying stuff that you really need, it’s okay to spend a little extra to avoid financial, or even physical, pain in the long run.
Here are some items we think are worth spending a little extra money on. Consider some of this when you make your next trip to the store:
Toilet Paper: Living like no one else shouldn’t involve a rash and/or a new walking style.
Trash Bags: Go with the paper-thin plastic bags if you really want to. But realize that as soon as the plastic snaps, you’re the one on your hands and knees picking up Junior’s used diapers, those mashed potatoes from two days ago and that half-eaten can of pinto beans.
Running Shoes: Your slowly deteriorating Achilles tendon doesn’t care about your get-out-of-debt plan, but it would appreciate it if you would stop running half marathons in a pair of 10-year-old Converse.
Food: There’s a difference between inexpensive food and cheap food. Cheap food (i.e. fast food) will save you a buck of two, but you’ll more than pay for it 20 years from now when a heart surgeon is scraping your arteries clean. Get tips for cutting the fat from your food budget.
Bed Sheets: Turns out, sleeping on sandpaper isn’t comfortable unless you are a two-by-four.
Office Chair: Yes, my lower back feels like someone drove a spike through it when I leave the office every day, but I saved $200 on this office chair! Super cool, right? No, that’s not super cool at all. You’d be better off standing up.
Silverware: If your knives and forks are the shape of a crescent moon, we think it’s okay to spend a few extra dollars on a nicer set.
Again, we’re not saying it’s time to become a spendaholic and buy a fancy office chair, the most expensive running shoes and gold-plated toilet paper.
All we are saying is that, sometimes, comfort matters. And if you have some wiggle room in your budget, it’s perfectly fine to spend a little extra cash on some nicer stuff. Just be reasonable and use common sense.
What are some items you think are worth a bit of extra money?
I believe that car maintenance should be on this list. I always get oil changes at 3,000 miles, get my tires rotated every 10,000 miles, and follow my maintenance book from the car manufacturer. By doing this, I am on only my third car since 1986. I should get at least another 5 years out of my present car so I will have owned only 3 cars in over 30 years by not skimping on car maintenance.
Quote of the Day from Dave Ramsey.com:
Dost thou love life? Then do not squander time, for that is the stuff life is made of. — Benjamin Franklin
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
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