The Greedy Pay Twice

We have a saying “the greedy pay twice”. The cheapest most definitely isn’t always the smartest or the most frugal thing to do. Yes! sometimes it’s more frugal to pay more. The economic benefit of paying as little as possible to save money is lost if you have to pay the second time to fix the result. A couple of anecdotes:

  • Last year I dyed my hair at home, and had to pay the hair dresser to have the color fixed. Color corrections cost more than a simple dye job. Have I learned the lesson? You bet.
  • We bought a fairly expensive item ($1,300) last year from a small store. The owner gave us a discount, but his return policy is “no returns”. The item turned out to be not what we wanted and we ended up having to re-sell it on Ebay, taking a monetary hit, of course. In the end we lost more than we saved, not to mention all the time and worry of selling on Ebay.