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Posted in Smart Money, on April 24th, 2016

Will buying name brand products save you money in the long run?

name-brand-productsWhether or not this is true depends on the kind of purchase you are making. To simplify this, there are two kinds of purchases. The first is major purchases, or those you don’t make everyday. A house, car, boat, or motorcycle all come within this category. Then, there are the common, everyday purchases.

Name brand products can save you money

Depending on the type of product you buy, you can save a significant amount of money in the short run, as well as the long run. Examples are watches, appliances, golf clubs and furniture. As an example, let’s assume you’re an avid golfer, and want to buy a new set of golf clubs. You’ll easily spend at least $500 for a complete set of clubs. If you buy an inferior, and inexpensive set of clubs, you’ll run into two problems. First, they’re not going to perform as well as a better quality set. Second, they won’t last more than a year because of the inferiority of the product. Within six years, this could  cost you as much as $3,000. On the other hand, a name brand set will last a good eight to ten years, and would probably cost you no more than $1,200.

Always remember, you get what you pay for. If possible, always buy quality products. Nine out of times, quality pays for itself.

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