Expensive Purchases That Can Actually Help You Save Money in the Long Run
Every time we buy goods and services we have to decide what price we are ready to pay for them. When the price depends on the quality, it is easy to make the choice. But if you have to choose between a budget version you are used to and some costly novelty, that’s when you have a dilemma trying to decide whether you should overpay or not.
Bright Side collected a set of things that will improve the level of your life and pay off their cost quickly.
1. Coffee machine
Do you love coffee and never miss a chance to get a cup of fresh coffee at a coffee shop? Have you still not bought a coffee machine? The high cost of this appliance is what frightens you, isn’t it? Then let’s count:
A cup of coffee costs from $2 to $5, with an average price of $3.50. If you get one cup of coffee every day that will be about $1300 per year. The cost will be more if you are not the only person in the family that drinks coffee or if you yourself drink more than one cup daily. Coffee machines cost about $500 on average.
So, if you include the cost of coffee beans, electricity, and service, your home coffee machine will pay itself off within one year. Once you have it you will be getting the tastiest drink in the world for the cost of production only, which is about 20 cents per cup of espresso.
It might seem like there is nothing profitable about freezers — only expense. You would also need to find a place for it. For what?
Supermarkets often offer profitable deals and if you have an opportunity to keep products for a long time, then you can buy them at good prices several months ahead. For example, we need vitamins all year around but the prices for seasonal greenery are much different than prices for the same products in the off-season. Also, buying meat and fish in large volumes is more cost-effective (a whole salmon will cost twice less than salmon steaks of the same weight).
The freezer costs not more than the fridge, it requires the same amount of electricity and if used correctly, it will pay off its cost within 3 years. At first, try to make do with the freezer in your fridge and if you like the idea of freezing products and eating them fresh in the off-season, then you can consider buying a larger freezer.
3. Thermostatic shower faucet
At first, it might seem that the mechanism regulating the temperature of the water with preset settings is an extra thing. Why can’t you turn on the hot water yourself and regulate it? This gadget also costs 3-4 times more than an ordinary faucet.
But in fact, a thermostatic shower faucet is something that can help you save money (a calculator for saving water and electricity will help you to see the difference) because you won’t have to spend time regulating the needed temperature of the water. Also, you’ll be able to turn off the water while lathering — it will be the right temperature when you turn it on again and you won’t be freezing covered in a soapy foam while trying to regulate the water temperature.
4. Induction stove
If we compare similar induction and electric stoves from one manufacturer the first one will cost twice as much. Is it worth overpaying for a trendy novelty?
Induction stoves have a very high efficiency — about 84% of their energy heats your food. An electric stove, for example, has a different efficiency — 70%, while only 40% of a gas stove’s energy goes for heating food. It means that food is cooked faster on induction stoves, so the consumption of energy decreases. Isn’t that more cost-effective?
Also, induction stoves have additional advantages. They don’t work unless you put a pot of a certain size on them. This means that if you leave a kettle on it and forget to turn off the stove, it won’t work consuming the electricity in vain. And since the surface of these stoves doesn’t heat up, the risks of getting burns is also less.
5. Seasonal tire change
It’s a well-known fact that winter tires are more expensive than tires for all seasons. Also, having winter tires means that you will have to change them for summer tires, which leads to more expenses. Are they worth it?
The answer is yes. Even taking into account the cost of tire fitting services, seasonal tires will cost you less than universal ones because all-season tires have a lower wear resistance. Try to imagine shoes that you have been wearing all year around — they won’t always stay as comfortable and in addition, they will wear up much quicker.
But the main savings in the case of tires is achieved by improving the safety of the car. If it is colder than 14°F outside, all-season tires harden, the grip on the road decreases, and the car becomes less controllable. Expenses for repairing a car that got into an accident can damage one’s budget significantly, not even mentioning the expenses of medical services, if they are required.
6. LED light bulbs
There is one more piece of technology that you should pay attention to — LED light bulbs. Though they have many advantages, these bulbs are actually not that popular. They have only one disadvantage — high cost. Let’s look at the numbers:
The price of an LED bulb is about 8 times higher than a normal incandescent bulb. But at the same time, an LED bulb consumes 10 times less electricity. Also the service period of an LED bulb is 10,000-25,000 hours, while for an incandescent bulb it is 1,000 hours — it means that while using one LED bulb, you’ll change a conventional light bulb 20 times. Eventually, an LED bulb becomes about 7 times more economical than a normal one.
7. Energy-saving glass
Despite the fact that an energy-saving coating on glass was first used in the 70s of the last century, most customers nowadays prefer to not overpay for this option. And it is not surprising because the cost of a window with Low-E glass increases by 50-80%. Does it really make sense to buy them? Let’s see:
About 40% of the heat loss in our homes falls on the glass. Just remember how much money you pay for heating, so half of this money goes for heating the outside. The energy-saving coating allows for the reduction of the transfer of heat through the glass by 75-90% (depending on the type of coating).
If you get a calculator and your bills, you can easily calculate the possible savings you could have. Don’t forget to include excess electricity that you use for heating your home as well as the electricity used by air conditioners for cooling your home down while it’s hot outside because energy-saving glass works for keeping your home both warm and cool.
Do you have your own methods of saving money by buying better things? Please share them with us in the comments!