5 Things Not Worth the Extra Money?
Posted: October 6th, 2010 | Author: Joe | Filed under: spending | Tags: spending | No Comments »I just stumbled upon this article about upgrades that aren’t worth your money. Here’s the list and what I think of it, feel free to add your thoughts at the end..
1. Wine.
“Expensive wine isn’t necessarily better. “
I agree with this whole-heartedly! I’ve had very good wine for $2.95 a bottle, and I’ve had very bad wine at $45 a bottle. Price bears little reflection on quality. Instead, the price often reflects the popularity of the label or in some cases is set solely to help create the perception desired in the consumer. For example, people may believe a wine is better if they pay more for it, but any comparison would fail to be made in a blind taste-test.
2. A hybrid car.
This is a great one for the list too. I know many people who have hybrid cars, but drive mostly on the highway to and from work everyday. News flash – hybrids use internal combustion for highway driving, so you’re not really benefiting from the technology in this scenario. Just to be clear, hybrids can be a good buy… just know if they fit your lifestyle first.
3. Store memberships.
This is the one I don’t agree with on this list. They’re talking about warehouse stores like SAM’s or CostCo. I think it probably doesn’t make much sense for a single person to have a membership to one of these stores, but they’re reasoning is that people often buy more than they really need. Ok, fair enough. But their examples are: pasta and toilet paper! Two things that don’t go bad over time. Who cares if you buy twice as much toilet paper as you need for a week – don’t buy any next week!
4. Rewards credit card.
Ok, so I was wrong. I don’t agree with this one either. Rewards cards not worth it? There is only one was a reward card is not worth it – they cost more than the reward. Assuming the reward is something you can use, and it doesn’t carry an annual fee then as long as you don’t carry a balance it’s worth it. I do have a credit card that’s not worth it, but that’s because the rewards are useless. They’re airline miles, and I don’t fly. But the credit card I use for all purchase is a cash-back rewards card. The rate is high, but I pay it off every month, so that irrelevant.
5. A stylish new wardrobe.
It’s hard for me to disagree with this one. After all, I once wrote a post extolling the virtues of used clothing!
