When you’re budgeting and want to boost your savings, the last thing you might consider doing is spending more money. But there are situations where choosing quality over quantity can actually help you save more in the long run. Keep reading to learn more!
I know it sounds crazy to buy something more expensive, right?
Well, actually, there are plenty of times when knowing how to spend wisely will help your future finances. I’m here to tell you about them and help you make the right choice.
Quality over quantity meaning
What does quality over quantity mean? Okay, so the definition may be obvious, but it’s important to be clear about the quality over quantity meaning before we go any further.
The phrase implies that choosing fewer things of higher quality is better than owning lots of low-quality things. It can apply to your fashion goals, what you eat, and what items you buy for your home.
Quality is how well-made something is
In basic terms, quality is how good something is. If an item is high quality, it means that it is well-made and will not easily break.
As an example, expensive bag brands like designer handbags are much more likely to last longer than high-street bags. But excellence often means a high price.
However, the quality of an item can also be subjective. A person’s opinions and feelings can determine it.
Quantity is just an amount
Quantity refers to the amount of something. So the number of shoes and handbags I own or general items around my home that I don’t actually need are quantity items.
Unlike quality, quantity is measured in a numerical format, and it can be counted.
How spending more can save you money in the long run
So this is what I’ve recently considered with purchases: Instead of filling my life and home with stuff, what if I carefully considered every purchase I make? How would that benefit my financial health?
Well, it would certainly make sticking to a budget much easier and my savings goals easier to achieve. I’d also stop overspending on cheap items that need replacing regularly.
While spending more on an item might seem like it would be more expensive, it will likely cost me less over time.
10 Quality over quantity examples
Ready to save money by buying quality things? Here are 10 quality over quantity examples that will improve your finances.
1. Furniture
When shopping for expensive items such as furniture, it can be tempting to purchase the cheapest items available. But by choosing high-quality items that are made to last, you may actually save money.
For example, if I buy an $800 sofa that lasts five years, it will cost me around $160 a year.
In comparison, if I buy a cheaper sofa at $400 that only lasts two years, it will cost me $200 a year.
Nobody wants uncomfortable furniture, and did you know that poor-quality chairs can negatively affect your body and health? Some things are worth spending more on, and furniture is definitely one of them.
High-quality furniture that is properly maintained can even be a good investment that you can sell when you decide it’s time for a refurb.
2. Clothing
Most of us are guilty of contributing to the fast fashion crisis. When it comes to clothes, quality is definitely best for our wallets and the environment.
If you spend a lot of money on a new pair of jeans, you’re much less likely to make an impulse purchase on cheaper items because you’ve already made a substantial purchase.
High-quality clothing is made of more durable fabrics, which means it won’t need to be repaired or replaced as often as lower-quality garments.
3. Food
Cutting your grocery bill and using the cheapest grocery list is a smart financial move to reduce your outgoings. But whilst canned goods and processed foods cost less, they can negatively affect your health and cost you money in the long term on healthcare.
Instead of compromising on the quality of your food, shop smarter by:
- Buying in bulk
- Growing your own fruit and vegetables
- Eating less meat
- Reducing food waste
- Buying in season
4. Reusable items
Reusing items wherever possible is a great way to save money and do your part for the environment. Here are a few reusable products that will save you a ton of cash over time.
- Grocery bags: Most stores will charge you for carrier bags, so reduce your bill and take your own.
- Make-up eraser towels: Trade the disposable cotton pads for a more eco-friendly and purse-friendly towel. Simply wash, dry, and reuse it again and again.
- A smart notebook: Eliminate the need to buy a ton of notebooks and invest in a smart notebook. Write your notes, scan the page, clear it, and start again. Genius.
5. Storage
Utilizing storage options can save you money on things like food and furniture. The right storage solution can protect and prolong the life of items, meaning you won’t have to replace them as often.
From buying freezer food bags to renting self-storage for your furniture, there are many ways to care for your possessions and get the most value from them.
6. Debt
What does quality over quantity mean when it comes to money? It doesn’t just apply to tangible items. Credit card debt is the perfect example of how spending more can save you more in the long term.
Making the minimum monthly repayment means that your debt will take longer to pay off. The balance left will also then accrue interest, costing you more overall.
For instance, suppose my credit card has a $2000 balance and an 18.9% interest rate. Clearing the debt in three years instead of five will save me hundreds of dollars and keep me from drowning in debt.
7. Homeownership
Are you deciding between buying your first home or continuing to rent?
There’s no denying that owning a home costs more than renting in the short term.
However, from a long-term financial perspective, buying a house allows you to save money and invest in your future.
The most important thing is only buying a home you can afford so you don’t become house poor. It’s often worth saving for longer before getting on the property ladder to increase your down payment and reduce your monthly mortgage repayments.
In most cases, rent prices may be higher than mortgage repayments, so you can use the difference in money to boost your savings.
8. Memberships
If you, like us, love a good subscription service, here’s some good news. You might be able to save some cash with the right membership!
For instance, if you use Amazon, it’s definitely worth investing in an Amazon Prime account. You will save money on deliveries and have access to videos and music, so there will be no need to spend money on these elsewhere.
Perhaps you already have a subscription like this. If not, you can save by buying only one that offers a lot instead of several.
Food subscription boxes are also a good way to save money by reducing food waste. With some research, you can find subscriptions that prioritize quality over quantity.
9. The neighborhood you live
Good neighborhoods may demand higher rent and mortgage payments, but living in a better area can save money.
For instance, good neighborhoods come with lower crime rates and a sense of community vigilance. They also tend to have well-maintained surroundings, including roads, parks, and public spaces, which contribute to a clean and pleasant environment.
Schools have good ratings and living in a desirable neighborhood can positively impact property values. I certainly considered school district rating and property values when I was deciding where to live and raise a family.
You may also be able to save on car insurance which is likely to be lower if you live in a lower-risk area.
10. Insurance
Paying for health insurance or a health savings account may seem unnecessary when you’re young and healthy, but it can save you thousands of dollars if you require emergency care.
Instead of skipping the coverage completely, shop for the best price. You can also save money by joining a family member’s existing plan if you are a spouse or under the age of 26.
Expert tip: Be consistent in your choices on quality
To truly live a lifestyle that values exceptional quality, you need to be consistent in the choices you make. You need to clearly define your personal core values and stick to them. Every time you spend money, it should be on something that reflects your priorities.
I found that physically writing my values down on pieces of paper and sharing them with my family motivates me to make the right decisions. You could even include a few in your wallet so you see them every time you open it. I also believe it’s easier to say no to things that cost money if family and friends know what you’re aiming for.
Here are some questions to ask yourself to help you stay consistent in your choices:
Do I really need this?
Why do I want to buy it?
Can I afford it?
How long will it last?
Could I borrow it instead?Buying quality is all about making the right kind of purchases, and these are never rushed! You can apply this approach to items as small as a bottle of water or as large as a car to ensure you’re consistent with your buying habits and long-term goals.
Why choosing quality improves your life: 6 Reasons
Maybe you’re convinced to start buying for quality. But just in case, here are a few more reasons why buying quality is always the right option.
1. Quality lasts for years
High-quality products are created to stand the test of time. Which means you won’t need to constantly replace them. I love that I can buy something for a bit higher price but am confident that it will last for years.
2. It’s better for the environment
When a product is well-made, it’s less of a burden on our planet because it won’t need to be thrown away. You can help the earth with sustainable living and your budget at the same time.
3. It helps you save time
By focusing on quality over quantity examples, you won’t waste time trying to have everything at once. The time you save can be better spent doing the things you love instead. Having fewer items to care for is another way to get some of your time back.
4. It can benefit your mental health and well-being
Understanding what quality over quantity means will not only benefit your bank balance but also your happiness.
In fact, clutter can hurt your mental health. So, instead of having many items in your home, choose fewer possessions of high quality.
5. Reduces stress in your life
Carefully choosing the people and things you have in your life will reduce stress. How? Well, owning many material items and being part of a huge circle of friends can be overwhelming.
Stress is often caused by trying to do too much. Less clutter and less worry and busyness can lead to a more carefree lifestyle.
6. Helps you live more simply
Choosing quality ultimately means doing what makes you happy. When we do what makes us happy, we experience satisfaction and fulfillment. When people say “it’s the simple things in life” that make them happy, it really is!
Think about it like this: Would you rather invest in one classy, timeless piece for your wardrobe or buy a bunch of trendy, lower-quality garments that clog up your closet and will become redundant in a few months anyway? I guess that most of us would go for the first option.
What is the theory of quality over quantity?
The quality over quantity theory uses measurement to explain why investing in quality things is better for our mental and financial health. It focuses on value and fulfillment being more important than volume. Quality gives us longevity and significance, whereas quantity just gives us a large volume of an item or thing.
You may need to shift your mindset to train yourself not to choose quantity over quality, and that’s ok. Start by prioritizing what’s important to you and focus on those things. With practice, you’ll naturally strive for quality and a simpler life as you start to benefit from the many reasons quality is king.
In my opinion, daily gratitude is an excellent way to achieve a quality mindset. I like to take ten minutes out of my day to remind myself of what I have to be grateful for.
You could even make a list and look back at it whenever you need a reminder.
What does quality over quantity mean in relationships?
The quality over quantity meaning in a relationship is not about how much time you spend together; it’s about HOW you spend it.
For example, if you spend every evening with your spouse but use the time to browse social media and watch TV, it doesn’t count as quality time focused on each other.
A few activities you could try that prioritize quality with your significant other without breaking the bank are:
Cooking together
Preparing a meal requires conversation and physical closeness, making it the perfect date night activity.
Treat yourselves to a spa day
Who doesn’t love a spa day? Relax in each other’s company and enjoy the moment.
Have a picnic
Sometimes the simple activities are the best. Pack a picnic, choose your favorite spot, and watch the world go by.
Exercise
Exercising together can strengthen your bond. It’s also great for motivating each other to keep going and achieve your fitness goals.
Stargaze
If you’re looking for a cute activity for date night, look no further. You don’t need fancy equipment—just some blankets and the stars!
Plan a vacation
Nothing beats the excitement of planning your next vacation! Make a list of places you want to go and things you want to see, and choose everything together. And don’t forget about a vacation budget!
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Focus on what matters most!
So, here are the final thoughts…choosing how we spend our money is powerful, and we choose how we spend it.
By making quality purchases, we will reap the benefits of our purchases for a long time. And, in turn, save both time and money!
So leverage the tips we’ve explored here and the many ways that opting for quality over quantity can help you lead a financially healthier and happier life. You’ll save money and live better. And next time you make a purchase, focus on quality, not quantity, to help you save money!
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