Comments on: Why the Lowest Price is for Losers

By: Mario

Mario — Wed, 01 Feb 2012 14:52:26 +0000

I tip my barber a few bucks extra everytime.
Why? Because sometimes the opportunity costs of sitting there at the barber shop waiting for my turn cost me more than when I am just able to walk in, my barber tell his “customers” that I had an appointment and that I’m next.

Yes, I’m spending more, but I don’t even have to wait 30 minutes til it’s my turn, rather than a possible wait of up to 2 hours.

It’s worth it.

By: DDFD @ DivorcedDadFrugalDad

DDFD @ DivorcedDadFrugalDad — Mon, 20 Jul 2009 14:33:42 +0000

Different approach. They say that you get what you pay for. I have heard about the adding of water to meat with cold cuts to get the weight up– pretty sleazy.

By: Meaghan

Meaghan — Thu, 16 Jul 2009 23:56:30 +0000

This is very true…it is so important to look at the value of what you are getting and not just the price.

By: Wilson Pon

Wilson Pon — Wed, 15 Jul 2009 05:26:00 +0000

Ning, sometimes, we should be thrifty in the daily spending, but it’s depending on the situation. If we’re think the goods that we’re buying is worth the money, then we should pay it accordingly. Remember, the businesspeople also need to earn their living as we did.

By: Car Insurance Guy

Car Insurance Guy — Tue, 14 Jul 2009 22:58:53 +0000

Excellent post. I think the perfect balance is a combination of great pricing and expertise. I can do without great customer service if I get extreme satisfaction from the product with a great price to go along with it.

By: Penny

Penny — Tue, 14 Jul 2009 13:26:06 +0000

It really depends on what I’m purchasing. The most costly item is not always the best either. You can have two t-shirts printed by exactly the same company. However, one of them is marketed by a more popular brand name. The price is inflated to reflect that.

Used, but quality works for me. I bought most of my furniture on craigslist. All of it is very nice leather, and wood furniture. I got it cheap, because the people wanted to redecorate and buy something else. : )

By: Meg from FruWiki

Meg from FruWiki — Mon, 13 Jul 2009 23:36:06 +0000

I definitely agree. Being frugal doesn’t mean being cheap, it’s about getting the best value for your money — and that often comes at a higher initial price.

Buying from small local businesses sometimes costs more, though probably not as often as many people think. However, I’ve found that it is usually well worth any extra costs and then some because in many cases you can talk directly with the owner. And even when you can’t, I’ve found that the staff is usually more knowledgeable and much more available than at big box stores.

That has a lot of benefits. Not only can you get help finding something, you can learn a lot about the products and find which item is best for you — and how to get the most value out of it. Small stores may be more selective about what they sell. If something doesn’t work out, you know exactly who to complain to. If they make stuff, you can ask for custom orders. Often the shopping experience feels nicer because it has a personal touch. And if you are looking to save money, you can usually haggle and/or barter a lot easier than at big box stores. And of course, there are more benefits for the local economy.

By: Charlie@PayLessForFood.com

Charlie@PayLessForFood.com — Mon, 13 Jul 2009 18:10:03 +0000

I agree with you totally on the “loss leaders”. This is especially true with supermarkets.

Studies indicate that between 40% to 50% of all of our supermarket purchases are impulse purchases. They sucker us in with the loss leaders and then make their money as we fill our carts with impulse buys.

By: Journey

Journey — Mon, 13 Jul 2009 17:17:53 +0000

Paying less is not always more. I have a few instances where I was kind of low on money and went for a cheaper hair stylist. This was terrible to cheap with. This girl ended up cutting off way more hair and it just didn’t look right. I know hair grows back but when you are interviewing for jobs in a tight market, you do not want an asymmetrical hairdo.

By: MoneyNing

MoneyNing — Mon, 13 Jul 2009 17:13:21 +0000

The add on fees are really a killer. Another tactic that are commonly used is the “loss leader” concept where they advertise a very low priced item to get you into the store because most people end up buying other “stuff” once they are in there browsing. I see that from online stores to retailers to car dealerships so it must be working.