How To Use The “Buy It Nice Or Buy It Twice” Rule To Save Money

Before any major purchase, you may feel your knees start to buckle. Even if you did all your research, read reviews, found the best item you could, and know it’s worth every penny, it’s not uncommon to panic over a big price tag and buy the dupe instead.

You might opt for the cheaper version of furniture, clothing, home goods, shoes, a car, or even everyday items, like a garbage can or beauty supplies. Instead of getting the highest quality version, or the one you actually want, you buy the non-premium item just because it costs less.

While it might save you money in the moment, many people regret these types of purchases a few months later, especially in the case that they need to repair or replace them. On the frugal side of TikTok, the “buy it nice or buy it twice” adage is making the rounds, with creators like @christina.mychas echoing the phrase, “I’m too broke to buy cheap sh*t.”

In her comments, one person said, “[You should] spend like a millionaire on the things you use all the time — bed, mattress, pillow, jeans, shoes, etc.” Another wrote, “In Spanish there’s a saying, ‘Lo barato sale caro,’ which is ‘the cheap turns out to be expensive,’” and it’s really resonating. Here’s what to know about the “buy it nice or buy it twice” concept, including the times when you should truly invest in a material product, according to a financial expert.

The “Buy It Nice Or Buy It Twice” Rule

It’s expensive to constantly replace things; so many people live by the “buy it nice or buy it twice” rule. “Essentially, [it’s the idea that] spending a little more upfront can save you money, time, and frustration in the long run,” says Ashley Feinstein Gerstley, CFP, a shopping and savings strategist at Rakuten. “It’s a mindset that encourages valuing quality over short-term savings.”

It’s normal to be tempted by the more affordable versions of things. Opting for a lower sticker price helps you stay on budget, she says, and will feel like a good deal. You might think, “This will do the job for now,” or “I don’t like this option as much, but I’ll make do.” It’s a strategy that you may need to do out of necessity when you don’t have the cash available at that moment to spend more.

Here’s the problem: The lower quality option can be less durable, wear out or break faster, be more expensive to maintain if repairs are needed, or less functional or enjoyable, especially if you settle for something you like less, wind up still yearning for the original item, and end up buying a replacement soon after, Feinstein Gerstley tells Bustle.

Think about furniture, clothing, or gadgets for your home that seem so steep at first, but are actually built to last. “If you’re paying for fewer replacements, lower repair costs, better efficiency (in the case of quality appliances, tools, furniture, etc.), and even have a higher resale value, that will save you money,” Feinstein Gerstley says. When you do the math, you end up saving when you buy it nice.

How Do I Buy It Nice?

It’s one thing to say “buy it nice or buy it twice,” but something else to implement the strategy. To put the rule into practice, Feinstein Gerstley recommends giving yourself plenty of time to budget and save ahead of a major purchase.

“I’m a big fan of setting money aside over time so that it smooths out larger expenses,” she says. “If you want to shop for higher quality items, set aside money each paycheck or every month into a shopping fund so that it’s there waiting when you need it.” Taking the time to save will also help you decide if you really need the item in the long run or if the original want for it was simply for instant gratification or because it was trending.

You can even save your money in a high-yield savings account, too, so that your cash accrues interest. When you have enough to buy your item, Feinstein Gerstley suggests shopping and comparing your options to make sure you actually are “buying it nice.” Look for good reviews, quality materials, and trusted brands over time. You can even do the legwork of research while you’re still saving if you need that virtual window shopping to keep you motivated.

This approach is most impactful for larger purchases, like couches and TVs — two things you’ll use every day and will want to enjoy as thoroughly as possible — as well as items that see a lot of wear and tear, like kitchen knives or jeans, she says. A $150 pair of well-made shoes that you can wear season after season makes more sense financially than a $20 pair that falls apart mid-walk after a month. In the time you spend saving, you might even come across an even better deal than you originally planned for.

When Is It OK To Buy It Twice?

While it’s always up to you to decide what’s worth the money and what isn’t, Feinstein Gerstley says you can often get away with the lower-cost version of items that don’t see heavy use.

For example, if you need a bedside table to hold up a lamp after moving into a new apartment, it won’t hurt to grab something super affordable. If you need a notebook to scribble grocery lists in, you don’t need to compare and contrast beautiful leather journal prices for a week. Just grab a pad at the dollar store and move on. And when you do want to buy something “nice,” that doesn’t necessarily mean you have to buy it new. You can shop resale sites, Buy Nothing groups, or thrift stores to try and find the version you’re looking for at a fraction of the price.

This viral money-saving rule is about allowing your mindset to shift from saving money in the moment to thinking about how things will last long-term. “You don’t even need to buy the most expensive option,” Feinstein Gerstley says, as that doesn’t always equate to quality. Think in terms of long-term cost, value, and satisfaction, and you’ll be way more likely to save.

Source:

Ashley Feinstein Gerstley, CFP, shopping and savings strategist at Rakuten