Earlier today, I went to my local club store with my wife and son for a few items we needed. One of the items on my life was laundry detergent. As I was browsing for the laundry detergent, I found myself almost settling for a lower grade product because the price was $0.07 less per load than the better product. I took a step back and really thought about the sacrifice I was making to save $0.07 per load. Often I speak of saving small amounts of money frequently over an extended period of time because it will add up, but is it worth it for some things like laundry detergent? Although I speak a lot about saving where you can for the greater cause, we do still need to remember we need to have standards.
In the case of the laundry detergent, I could end up saving $0.07 per load, but could sacrifice the cleanliness of my clothes. Washing my clothes with lower grade laundry detergent could lead to my clothes not smelling as good, which is something I would not like very much. Since I am not willing to purchase lower quality detergents, I could plan ahead and purchase enough laundry detergent of my choosing to last me for several months when it goes on sale. This would be a good strategy to capture as much savings as possible, but would also require me to put out extra money ahead of time and also require more space at home to keep it all. There are pros and cons to every situation, as we can see here.
I take this scenario to other areas in my life and ask myself, should I be lowering my standards for minimal cost savings? Is the cost savings worth enough to make a sacrifice? Are there any other options out there that gives me the best of both worlds? All of these are very good questions when thinking about prices and products. We all want to make sure we are getting the best product for the lowest prices possible. To do this, we need as much information as possible and that requires extensive research (typically on the web). I have learned it is better to sometimes pay more for what you want because if you do not, you may end up being disappointed. Just a few thoughts on price versus product quality.