When we are watching our pennies, as many of us are in these days of COVID-19, your default position tends to be, go for the least expensive option, always.
For many of our daily needs, that's an excellent strategy. Buying in bulk, shopping the sales, clipping coupons...these are all good ideas, as a general rule.
But when we are so focused on price, we sometimes tend to forget about the other side of the equation: value.
Value, in this context, refers to things like quality of workmanship, source, warranty, and after-sales service. Generally speaking, the less expensive an item is, the lower its overall value.
Sometimes, this might not matter to us. We might choose to buy an inexpensive piece of clothing, knowing that it will likely not hold up under repeated laundering for more than a year or so. If we already have several shirts, buying another one of low quality at a low price point, because it's in a fun print or is cut in a funky...
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