Cost vs Convenience - Which Do You Prefer?

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January 2, 2020

Learn the difference between cost and convenience and how you will save money by living a simpler life. Focus on the necessities instead of wants in order to save more.

Everything comes at a price. It's a fact. Hopefully we will never have to pay for something like the air we breathe, but you never know! As technology progresses, items that make life more and more convenient become available. However, these new items come at a cost. The more convenient an item, the greater the price. If you want a car with seat warmers, it will probably cost more than a car without heat warmers.So, where do we draw the line? Where do we stop paying more simply for convenience?

Convenient Items We Spend Too Much On

All too often we get used to spending an excessive amount of money on items we think we need. The truth is, the average person can typically cut costs way down. Below are items I believe we spend too much money on, simply for convenience.

1) College - Acquiring a secondary education is a fantastic goal. However, when that goal requires $50,000/year in tuition, I would get a little worried. Consider a community college for the first 2 years or state universities. This will literally save thousands.

2) New Car - While the latest model is super nice and convenient, do you really need it? New cars depreciate in value so quickly. By buying a reliable, used car, you are able to save tons of money and spend your cash on more useful items.

3) Food - Eating out is a huge drain on the wallet. Instead of eating out every night, consider going to the grocery store. Saving this money will add up in the hundreds in no time.

4) Credit Cards - Unless you have no outstanding balance on your credit cards, this convenience is definitely costing you. Interest takes hundreds and thousands of dollars out of your pockets. And why is this? Because it is convenient to purchase items now and pay them off later.

Living More with Less

The real question we must ask ourselves is how greatly we desire the newest items so that life can be that much easier, or that much more comfortable? It is true, we can spoil ourselves sometimes, but only in moderation. If moderation is not practiced, debt will slowly creep up on you.

We can learn to live more by being more appreciative of what we already have. Have a car? Awesome. That is better than many people. Have a house? Appreciate it! Think of all the homeless people who never have a place to call their own. We have a lot more to be grateful for than we sometimes realize.

We must remember the things we already have, and forego the latest convenience the world has to offer. Always ask yourself if you really need that new convenience, and perhaps just put that extra cash in your penny bank.

What are things you sometimes sacrifice cost for convenience on?