Sometimes we feel good about spending, and sometimes we don't. Striving for quality not quantity is a good general rule. Here are some interesting things to consider and tips on when it may be worth it to spend more on an item.
1. Upgrade to professional-caliber and commercial-grade versions of products and services. Pretend you're buying for a business. What hammer would a carpenter buy? Where does a lifeguard buy a bathing suit?;Where do interior decorators go antiquing?
2. Consider usage time. The average American sleeps roughly a third of their lifetime. That's eight-and-half hours a night, or more than 3,000 hours a year.From that perspective, a top-of-the line memory foam mattress for $2,000 to $3,000, seems like money well spent. DealNews.com suggests looking at it this way: "That's roughly the same as a daily coffee for 10 years." Based on this reasoning, bed sheets you adore are another sound investment.
A similar case can be made for not skimping on smartphones. The average American now checks their phone 150 times a day -- about once every six minutes. On a cost-per-usage basis, they're a relative steal.
3. Does it make you feel like a million bucks? Some things just do - a perfect little black dress, a throw pillow, a nice piece of art from a favorite vacation destination, even a designer purse. The intrinsic value can make something exponentially more valuable.
Purchasing one designer purse every five years could make every outfit look and feel better. Plus, it holds its value. At the end of five years, you can trade it in and get some money back from a consignment shop. One $500 purse (assuming you are not financing it with credit) that yields $100 re-sale five years later equals a $400 investment. That's the equivalent of purchasing a new $39.99 purse every season for 2 and half years. Know thyself and don't compromise - the compliments alone could be worth it.
Men might be able to use the same concept with cars. A used Ford F150 is better than no Ford at all.
As Mark Twain said, "I can live for two months on a good compliment."
Make purchases you truly need or truly want. Avoid impulse buys and costly compromise.
Regina Lewis is a national television contributor and host of USA TODAY's "Money Quick Tips" videos. Follow her on Twitter: @ReginaLewis.