Skip the Bargain Version: These 12 Costly Purchases Pay Off Long-Term
One of the best methods for living within your means is choosing not to buy expensive things. Instead, consumers can swap out generic or "dupe" items. These look and work just like their more expensive counterparts, but cost a lot less money.
That said, certain expensive items just can't be duped. From pets to plants, these purchases deliver an incredible return on investment that pays off in the short and long term. In a video on his YouTube channel, frugal living expert Austin Williams outlined some top expensive purchases that are worth going all in on.
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1. Pets
Williams is a proud owner of a pet dog named Star. The costs associated with keeping Star happy and healthy might not be cheap, but Williams doesn't mind picking up the tab for his pup.
"There's nothing better than having your dog cuddle with you at the end of the day and give you some love," he said.
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2. Good Shoes
Never skimp on purchases that touch the ground. Williams recommended investing in a high-quality pair of sneakers. Good shoes are vital if you exercise frequently or are regularly on the go.
3. Good Sheets
Quality sheets, and overall bedding, don't have to cost you a ton of money. Williams cited the example of Threshold 400-count sheets that he purchased from Target for $60. Essentially, midrange, high-thread-count sheets are what you'd be looking for.
4. Living in a Fun, Walkable Area
One non-negotiable expense for Williams is living in a location that's fun and has a lot of activities to engage in. He's lived in locations such as Ecuador, Colorado and Atlanta.
Though Williams said he pays much more for rent than he would if he lived in a suburb, he doesn't mind paying more to live in an engaging area where he can walk everywhere, explaining, "If I lived in a cookie cutter suburb that is dependent on cars, I would be miserable."
5. Reliable Car
Speaking of cars, Williams sees a great deal of value in owning a reliable vehicle you can drive across the country and not have to worry about it breaking down.
6. Well-Decorated Home
"Having a home with nice decorations, a home that creates a cozy environment, is well worth the money," Williams said. "Creating a positive, comfortable home is key to be happy."
7. Plants
As expensive as plants can be, Williams said they're worth every penny because they brighten up living spaces. Plus, it can be just as therapeutic to look after plants.
8. Electric Toothbrush
Williams doesn't see an expensive toothbrush as a luxury buy, but rather an investment in the care and keeping of your teeth. He recommended an electric toothbrush over a manual one, as they better protect against cavities.
9. Battery-Powered Drill
Battery-powered drills come in handy as you work on DIY projects around the house like setting up new bookshelves, and can keep you from paying extra money to hire a professional.
10. Glass Food Storage Containers
To combat excessive plastic consumption, Williams purchased glass food storage containers to store his food inside. These containers also make it easier to organize leftovers in the refrigerator.
11. Good Computer
A reliable, fast computer is a must-have, especially if you work remotely or are self-employed. This purchase doesn't need to be extremely expensive, either.
12. High-Quality Clothing
Investing in high-quality apparel is something Williams sees value in because the clothing lasts longer and looks better. He used the example of a T-shirt he purchased for over $60. This was more money than he had ever spent on a T-shirt, but for all the months he has owned it, the shirt hasn't faded or worn out.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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