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Welcome to the new readers this week. Excited to have you as part of the gang! Hopefully you enjoy the post. If not, we always have memes…

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Quote

"Lo barato sale caro"

Translation: “That which is cheap, ends up being expensive.”

Buy Right, Or Buy Twice

Being cheap.

It’s something that people take pride in because it means they are likely saving or investing a lot of money.

While this is great, sometimes being cheap can end up costing one more.

Let me explain 👇️ 

The Risk of Cheap

There are multiple areas where an argument can be made that it is worth spending a little extra money. For example…

Say you are working on a home improvement project and need to go pick up a few tools from Home Depot. You walk into the store. The fresh cut sawdust smell has you feeling like a carpenter. You are ready to work. You browse the isles, check out the different drills, and read the different features (half of which you don’t understand).

There are drills from $500 down to $40. Being cheap, you snag the $40 option and head home. You knock out your project and are feeling great about your purchase.

One year later a limb punches a hole in your roof. As luck would have it, a storm is coming and you can smell the rain just minutes away. You grab your drill and jump onto the roof for a quick patch. As you pull the trigger to sink the first screw you hear something inside the drill break. Now you have a problem.

“What a cheap POS”, you say under your breath as the rain comes down and you bang away on the drill hoping for it to come back to life.

If you knew this would happen, would you have coughed up a little more money initially? Probably.

Cost of Confidence

When it comes to some purchases it is often better to simply buy a quality item.

I’m not saying you need the highest dollar thing on the shelf, but upgrading a bit from the cheapest item will likely save you headache, time, and money down the road.

A few areas where I think it’s okay to spend a couple extra bucks.

Tools, appliances, housing materials, gear (hunting, ski, fishing, climbing, etc), firearms, clothing, and sometimes even vehicles.

You might pay a bit more, but it’s what I like to call the cost of confidence.

Conclusion

As always there are exceptions to this rule and sometimes the cheap things will fit the bill.

Just remember you usually get what you pay for and there is a tradeoff.

Yes you might save a few dollars here, but it might cost you your sanity later.

Buy right my friend. ~ Cade

Cade's Finds

Where’s the Office Building Crash? - Office buildings that sold for $90M are now going for $30M just a few years later?! That’s one of the many topics that was covered on this week episode of “What Are Your Thoughts.” For those who want a recap of economy and market activity I highly recommend listening to Josh and Michael.

What Are We Assuming? - Many of you (like me) are huge fans of index investing and betting the market goes up over the long term. Jack Raines did a solid piece putting into perspective some of the assumptions we are making without even realizing. I’m not changing my investing strategy, but this post does a good job of reminding you no returns are guaranteed.

Should I Buy The Worlds Most Insane Watercraft? - Not money related, but if I ever make it big there will be signs. And this razer/jet ski hybrid will be one of them.

Best Memes

Boomers are always the top.

Accountants think you are crazy.

Nothing in this email is intended to serve as financial advice. Do your own research. Thanks for reading, if you have any questions, comments, suggestions, etc. about the email don’t hesitate to send me a reply.