376: Wise Investments: Understand the Difference between a Good Value and a Good Deal

The savviness of wise money management encompasses many factors, but one is an approach often overlooked or dismissed: Understanding the difference between a Good Value versus a Good Deal. Here in the states tax season is upon us, and so many of us may have money on the mind even more than we usually do; however, I often find myself at the beginning of the new year assessing my monthly budget, determining where I am gaining value or unnecessarily causing more tasks and draining money. Ultimately, whenever I sit down to assess my money, my goal is to do so less often, knowing I have invested well, so I can go about the living of my life that I love and trust that my decisions will stand a long duration of time offering the performance, purpose or function I purchased it for. In other words, I don't want to be shopping for my capsule wardrobe constantly, restocking and replacing worn out jeans that while a great deal, only lasted one or maybe two seasons. Likewise, I don't want to have to be taking my car to the repair shop frequently, or gassing up frequently or even replacing the car itself as frequently (more on what I am hinting at below in our discussion). When we invest well, and apply the wisdom of purchase great value rather than falling victim to a good deal, we deepen the quality of our overall lives because however we enjoy living them, we can do so without surprise expenditures frequently arising. Today, I would like to explore a handful of areas of our lives in which investing in Good Value vs. a Good Deal occurs, and to offer explanation as to why paying the large price tag upfront will save more money in the long run, as well as instances when a large price tag upfront is just welcoming more stress throughout the duration of your ownership. Let's get started. View the Show Notes for the episode here — https://thesimplyluxuriouslife.com/podcast376