The greatest value of quality is that it is cheaper to buy quality than quantity in the long run. The cost of purchasing is more than dollars. It’s the time and effort it takes to maintain the product, as well. It’s better to make one good purchase than it is to make ten mediocre ones.
In my younger days, I would hyper focus on the dollar cost of the product rather than the quality. I paid for it by the end. One of my worst purchases I made was buying an iPhone X, used, from eBay. It worked fine for one year and then the battery died afterwards.
$200 down the drain. In just one year. It’s better to spend $800 on a brand new iPhone that lasts 5 years than it is to buy a $200 iPhone that only lasts one year. Not only do you enjoy a superior phone in the meantime, it’s cheaper in the long run as well.
This is the biggest reason why I refuse to buy a Windows laptop. I only buy MacBooks because it lasts much longer than a Windows computer and MacBooks accomplishes more things than Windows computers. Price is not the only cost there is.
The value of quality is that it saves headaches, aggravation, time, and attention to making a decision. Your life becomes much better when you simplify your life instead of complicating it even further. It may cost more upfront but it’s cheaper in the long run.
There’s a reason why I never buy cars more than 10 years old with 100k+ miles. It’s not worth it.
Value of Quality: 9 Surprising Ways it Helps You
Below are 9 ways the value of quality benefits you over the long run. After wasting thousands of dollars down the drain, I now make more strategic buying decisions. It’s a much smarter way to allocate your capital than the alternative.
1) Less Expensive in the Long Run
I personally love cheap but reliable cars. They get the job done and get me from Point A to Point B just as much as a new car. However, that doesn’t mean that I buy any cheap car under $5,000 that I see. It also has to provide reliable transportation over the long run.
It’s much less expensive in the long run. I bought a 2017 Nissan Versa Sedan with 80k+ miles in it for $14k. I still drive it to this day. There’s the occasional oil changes but overall, it doesn’t cost me that much more to keep the car than to buy a completely new vehicle.
I could’ve bought a $5k car that was 20+ years old with 100k+ miles. However, I refused to because I knew it wouldn’t be a good purchasing decision. The older you get, the better it is when your life gets simpler rather than more complicated.
Even if you have a chance at saving more money. The price of time is more expensive than money. Time is not money.
2) Value of Quality: Less Headaches
Maintenance is a headache. It’s not even about the money it costs to fix the product. It’s the getting ready to go to the store, the figuring out how to fix the problem, and talking to the fixer that’s the problem. The value of quality is that you get to avoid the hassle.
It took me 4 trips to the store and 4 weeks of waiting only for the store to finally tell me that my iPhone 10 is unfixable. Then on top of that, I had to dish out $35 for their time, as well. There’s so much more hidden costs to maintenance than the money itself.
By trying to save money, you end up spending even more money if you don’t do it right. I personally have the means now to make quality purchases rather than the cheapest purchases. It’s made all the difference in my life and the way that I view money.
It’s a shift in mindset that was invaluable in me earning even more money. It helped me get out of the I feel poor mindset.
3) It Minimizes Decision Making
One good purchase once is worth more than multiple trips to the store to fix any problems. We make 35,000 decisions per day. There’s no need to add additional decisions to the 35,000. The ones we make already are hard enough, as-is.
The more decisions we make, the worse off we are because decision fatigue is real. The quality of decisions we make diminishes over time and the more decisions we make. It’s one of the reasons why I only wear one thing the entire weekend.
I don’t have time to make decisions on what to wear because the other choices I have to make are already more important than that. The hidden value of quality is that it minimizes the number of decisions we have to make.
That’s when less truly becomes more. Our lives are already hectic enough. It’s better to simplify it with subtracting unnecessary things in our lives.
4) You Hold the Power
When you pay more, more people give you respect. When you dish out good money, the people are more honest, kind, and respectful towards you. There’s a reason why the rich hold the power. It’s because they have the money.
When they look to buy a $1M mansion, the real estate brokers are on their best behavior.
They make sure the place is in tip-top shape because the rich can take their business elsewhere and pay someone else a million dollars. The value of quality is that it’s usually more expensive to buy quality. However, with that comes the perks of the purchasing process being easier.
There’s a reason why many luxury car dealers cater to their customers hand and foot. It’s because their customers have financial confidence and therefore are willing to dish out good money for their overpriced products.
Wal-Mart doesn’t mind making their customers wait to make their purchases by having few cashiers work.
Because if the customer doesn’t spend $50 in their store, Wal-Mart is OK with them leaving for someone else. They have millions of other customers to choose from, anyway.
5) It Makes You Healthier
Eating McDonald’s often really adds up. Personally, I cannot eat red meat, at least on a regular basis. Every time I eat red meat, I got sick and it’s just not a good time for me. Therefore, I actively avoid buying red meat even if it’s cheaper to do so.
There’s no way cows are cheaper to grow than chicken. The fast food industry puts many chemicals and preservatives in their meats to keep it long lasting. I personally don’t eat sausages now, either. My body just cannot digest those kinds of foods.
The value of quality is insurmountable when it comes to health. It makes you healthier when you eat equality foods that your body likes and agrees with. Even with drinks, too. I personally avoid soft drinks and alcohol even if it is cheaper.
Taking care of your health at a young age is how we grow to be a centenarian.
6) It Helps Your Business
I was working on my blog with a MacBook Pro I bought in 2013 and an iPhone 6s. I didn’t know what I was missing out on until I bought the latest iPhone and the latest MacBook Pro in late 2022. It was a game changer. Even though I dished out ~$2000, it was well worth it.
The value of quality is that it may bring you more revenue for your business. Spending $2k to make $5k/year more is well worth the cost. Not only that, it saves me a significant amount of time when creating blog posts now. My iPhone speed is also much faster, as well.
There are many who try to grow their business by spending the least amount of money possible. That’s not the right way to go. That’s level one thinking. The next level business owners know how to spend their money so they can bring in more money.
It’s level one to bootstrap your business by spending the least amount possible. The next level is to figure out how to spend money to make more money. Hoarders are rarely the ones who create the biggest businesses.
7) Value of Quality: You Get to Work With Good People
The ones who offer quality are good people themselves in the first place. No one wants to work with a snake oil salesman who sells $1,000 products. It may work in the short-term, but sooner or later, reputation goes around.
Without reviews, it’s not easy to find out who the lagging businesses are because there are so many popping up so often these days. The value of quality is that people who sell quality products are generally nice and honest people who aren’t just trying to make a quick buck and have staying power.
They want to make sure everyone benefits and a win-win transaction is created. The apartment complex I moved into had some amazing people I worked with. I love my new landlord, even though I pay less than the prior apartment complex I lived in.
There was no catches, either. People who sell quality goods are usually good people. And it’s great to deal with good people when making business deals.
8) Less Maintenance Issues
Maintenance is a hidden tax on products. The only maintenance I do on my car is the occasional oil and AC filter changes. I didn’t have to replace anything else, except the windshields and such. The value of quality is that maintenance is less.
When I lived in a $700/mo apartment, the maintenance issues were out of this world. There was an ant infestation problem and many small things around the apartment needed fixing. To the point where it made me wonder if living in such a cheap place was worth it.
Maintenance is an expensive cost that not many are aware of. One of my friends drove a Nissan car and the CVT transmission blew out a week before their wedding. That’s an extra $4,000 cost they had to pay out of pocket. They didn’t even know they could’ve gotten the fix for free due to a Nissan lawsuit, at the time.
Extra maintenance issues just isn’t worth the money that you save, in the long run. That’s the value of quality.
9) It Lets You Focus on More Important Ventures
There’s no point in trying to save an extra $10k in legal costs by doing it yourself if it might cost you an extra $10k when it comes time to reach a settlement. I got into a car accident in 2021 and instead of figuring out everything myself, I hired a legal team to work on my personal injury claim for me.
I’m too busy working at my 9-5 and on my side hustles to focus on negotiating with the insurance company on the personal injury claim. Because I outsourced the claim to a legal team, I can just sit back while I focus my attention on other ventures that bring me more money.
That’s the value of quality. The lawyers are paid based on a percentage of the settlement. Therefore, they are highly motivated to give me as big a settlement as they possibly can. When you pay money to let someone else fix your headaches for you, you can make even more money.
The specialization and division of labor is a wonderful thing.
Value of Quality is Better than the Value of Money
Money is important when you’re beginning the wealth building journey. However, after a while, you start to focus on your time more. Time is worth far more than any amount of money ever will. That’s the value of quality. Quality trumps money any day of the week.
There is a time and place to focus on saving as much money as you can. Then there is a time when you should spend money on quality so you can make as much money as you possibly can. One of my biggest regrets is to focus on saving money instead of focusing on quality.
After a while, focusing so much on the cost leads you to spend even more money when you can spend a little more money today to save more money overall. When I was looking at buying a new MacBook Pro, I could have bought a used 2020 MacBook Pro for $150 less.
That $150 less wouldn’t have been worth the value that I’ve been enjoying with my new MacBook. The battery life is out of this world and the video quality are outstanding. Money is a great thing to have but quality is an even better thing to have.
As long as we’re not so poor that we can’t afford to spend any amount of money without being able to pay rent, we shouldn’t mind spending a little more money for a better product. A good product is worth more than the money we dish out for it.
It’s all about focusing on the long term rather than the short-term.
Value of Quality is Next Level Thinking
Level one of the wealth building mindset is to save and invest as much money as you can. Even at the expense of quality. The number one objective is to focus on cost. While that’s good thinking, it’s only level one thinking. The mindset is only good if you want to be good enough.
If you want to be one of the all time greats, it’s all about knowing how to spend money and focus on the value of quality. There’s a reason why Graham Stephan on YouTube will never be one of the all time greats while MrBeast on YouTube will always be the all time greats.
MrBeast knows how to spend money to make his content exciting for his viewers. Not hoarding and saving as much money as he can so he never goes broke. But knowing how to spend money to generate even more money.
The best spenders out-earn the best savers. Even if the savers have investing income they generate from their savings. The cash and money we hold are soldiers we have to send to battle so they bring in more prisoners of war. That’s the next level thinking.
It took me such a long time to figure out how to spend money to make more money. That’s focusing on the value of quality. It’s not a requirement to know how to spend as much money as you can to make more money. Plenty of savers become good enough.
However, the next level mindset requires knowing how to strategically use money to elevate us even more.
Value of Quality: 9 Benefits Shortlist
- Less expensive in the long run
- Value of quality: less headaches
- It minimizes decision making
- You hold the power
- It makes you healthier
- It helps your business
- Value of quality: you get to work with good people
- Less maintenance issues
- It lets you focus on more important ventures
