Friday Financial Foul Ups: Not Paying For Value

This week’s Friday Financial Foul Up will feature a guest post from Daniel Packer of Sweating The Big Stuff.  I met Daniel last month at our monthly blogger happy hours and was really impressed by his enthusiasm for his site.  Daniel writes about maintaining a high quality of life while working to improve his finances.  For more from this fellow DC Personal Finance Blogger, follow him on twitter (@danielpacker).  Enjoy his story about buying a crap TV off of Craigslist.

_________

I used to hate confrontation. Like really hate confrontation. I would do anything to avoid it. I chalked it up to not caring enough but really I just didn’t want to have to deal with it and for a few dollars, it wasn’t worth the risk of embarrassment.

The Situation

When trying to buy a tv in college, I went on Craigslist with a very small goal: Get the largest tv for the lowest price. I figured there wasn’t much else to it. I wasn’t interested in spending a lot of money, and I wanted to do it as quickly as possible. It was baseball season, and every day that passed meant another day without watching baseball, and that was simply unacceptable.

Without a car, I was limited to a very small proximity. I could probably get a ride anywhere in town from a friend, but I didn’t want to ask for any large favors, so my options were very limited. Still, there were a few options, most above my price range. But there was one tv that peaked my interest: a 32 inch that was within a 4 minute drive. It was perfect, I called up and quickly got over there.

Where I Fouled Up

I checked out the tv, which was a little fuzzy and for $100, didn’t seem worth it. But I was already there, I had never bargained before, and I wanted a tv but didn’t know what my other options were.

Needless to say, I had the tv for 3 years and hated every minute of it because I couldn’t tell the difference between a 6, and 8, or a 9, and clear as HD is with my direct tv hd receivers, this was blurry. I probably hurt my eyes squinting, and with no place for a dvd place or xbox 360, it was basically worthless.

What I Learned

I learned two important lessons that day. The first was to always bargain. No matter what, it’s worth the potential embarassment to save money. I now bargain constantly and never let a purchase go by without haggling and at the very least asking for a better price.

The other, more important lesson that I learned is that I should pay for quality. $100 may have seemed like a bit of money as sophomore in college especially when you are broke and often needing cash advance, but there’s nothing worse than being out $100 with little to show for it. For another $50, I could have gotten a significant upgrade and been able to watch while relaxing on the couch. I could have been proud of my entertainment system instead of having to stand inches from the screen. Since then, I’ve made a conscious effort to avoid possibly horrendous purchases and spend money on the things I feel are worth it.

———-

Do you like this series? Check Out The Previous Foul Ups:

Foul Up #23 – Kristin (Instigationology) – Giant Elves and the $86 Movie I Never Finished
Foul Up #22 – Kyle (Suburban Dollar) – Being Down on High Interest Checking Accounts
Foul Up #21 – Brian (My Next Buck) – Pale Dude’s Shouldn’t Go Tanning
Foul Up #20 – Shawanda (You Have More Than You Think) – How Financial Knowledge Can Hurt
Foul Up #19 – Christine (Money Funk) – Love Can Hurt Your Financial Situation
Foul Up #18 – Clayton (Just Good Financial Advice) – Trying to Get Rich Quick
Foul Up #17 – Craig (Budget Pulse) – Black Friday Purchase Becomes a Dust Collector
Foul Up #16 – Jesse (PF Firewall) – The Fine Print of Rental Properties
Foul Up #15 – Paul (Fiscal Geek) – Unsuccessfully Restoring American Muscle
Foul Up #14 – Mrs. Micah (Mrs. Micah – Finance For a Freelance Life) – How Getting Married Wrecked My Finances
Foul Up #13 – Evan (My Journey To Millions) – Speeding Up Payments on Loan Interest, Not Principal
Foul Up #12 – Elle (Couple Money) – Stretching Yourself to have a Comparable Car to Your Friends
Foul Up #11 – Revanche (A Gai Shan Life) – Sibling Bailouts Cost More than Just Money
Foul Up #10 – Brad (Enemy Of Debt) – There’s Nothing Interesting About Interest-Only Loans
Foul Up #9 – Jason (Redeeming Riches) – Buying a Car with a Balloon Payment at the End
Foul Up #8 – David (Money Under 30) – Being Too Eager to “Move Out” and “Move Up”
Foul Up #7 – Matt (Debt Free Adventure) – Upside Down and Paying The Price
Foul Up #6 – Brian (MyNextBuck) – Overdue Books Prevent Me From Renting an Apt
Foul Up #5 – Kelly Whalen (The Centsible Life) – Poorly Planned Vehicle Purchase Costs $24,000
Foul Up #4 – Stephanie (Poorer Than You) – Signed My Life Away at Age 17
Foul Up #3 – Deliver Away Debt – How I Wasted Over $10K and 11 Months
Foul Up #2 – Brian (MyNextBuck) – Quick Fixes to Weight Loss
Foul Up #1 – Brian (MyNextBuck) – How I Didn’t Earn $3000 in Free Money

Need cash for the holidays? Christmas Payday Loans from CashAdvancer.com can get you cash immediately to enjoy your holidays.

7 Responses to Friday Financial Foul Ups: Not Paying For Value
  1. Abigail
    March 19, 2010 | 6:19 am

    It’s easy for those of us trying to be frugal to not pay enough for quality. Which ends in our spending even more money to remedy it/replace it.

    When we shop for anything over $40, I try to do a little research beforehand to find out what are good products. (Things like a humidifier or vacuum or some other appliance like that.) That way I have a basic idea of good, better, best. Then we try to find a good compromise between quality and price. Usually we end up going with “better” unless there’s a killer sale on the best.

    Then again, I spent extra on our vacuum cleaner after reading up on Consumer Reports. I never in my life wanted to pay $100 for a vacuum — even though that’s not bad overall — but I have to admit the investment was worth it. Plus I plan to keep this thing for years so I’ll get my money’s worth.

  2. Forest
    March 19, 2010 | 7:37 am

    I made a very similar mistake. I wanted a TV pretty much only for my xbox and I ended up with an old beater of a TV, it was big but you had to stand 100ft away for the picture to look clear… My games were pretty appaling. I have a small LCD now that was not expensive really at all and does the trick.

  3. hey
    February 21, 2016 | 12:21 pm

    Simply desire to say your article is as surprising. The clearness to your post is simply spectacular and that i can suppose you’re a professional on this subject. Fine along with your permission allow me to clutch your RSS feed to keep updated with impending post. Thanks one million and please continue the enjoyable work.|

  4. 1/4-Inch Drive Click Torque Wrench
    April 7, 2016 | 2:22 pm

    Very energetic post, I enjoyed that a lot. Will there be a part 2?|

  5. http://www.youblisher.com
    October 23, 2016 | 12:07 am

    Great subject for a post, I have not seen a lot written about this.
    Thanks, Kelvin

Trackbacks/Pingbacks
  1. Best of the Rest: Saying Goodbye Edition | Sweating The Big Stuff
  2. Friday Financial Foul Ups: Being Ignorant Of Your Finances Means Money Lost | My Next Buck
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/not-paying-for-value/trackback/

Friday Financial Foul Ups: Not Paying For Value

This week’s Friday Financial Foul Up will feature a guest post from Daniel Packer of Sweating The Big Stuff.  I met Daniel last month at our monthly blogger happy hours and was really impressed by his enthusiasm for his site.  Daniel writes about maintaining a high quality of life while working to improve his finances.  For more from this fellow DC Personal Finance Blogger, follow him on twitter (@danielpacker).  Enjoy his story about buying a crap TV off of Craigslist.

_________

I used to hate confrontation. Like really hate confrontation. I would do anything to avoid it. I chalked it up to not caring enough but really I just didn’t want to have to deal with it and for a few dollars, it wasn’t worth the risk of embarrassment.

The Situation

When trying to buy a tv in college, I went on Craigslist with a very small goal: Get the largest tv for the lowest price. I figured there wasn’t much else to it. I wasn’t interested in spending a lot of money, and I wanted to do it as quickly as possible. It was baseball season, and every day that passed meant another day without watching baseball, and that was simply unacceptable.

Without a car, I was limited to a very small proximity. I could probably get a ride anywhere in town from a friend, but I didn’t want to ask for any large favors, so my options were very limited. Still, there were a few options, most above my price range. But there was one tv that peaked my interest: a 32 inch that was within a 4 minute drive. It was perfect, I called up and quickly got over there.

Where I Fouled Up

I checked out the tv, which was a little fuzzy and for $100, didn’t seem worth it. But I was already there, I had never bargained before, and I wanted a tv but didn’t know what my other options were.

Needless to say, I had the tv for 3 years and hated every minute of it because I couldn’t tell the difference between a 6, and 8, or a 9, and clear as HD is with my direct tv hd receivers, this was blurry. I probably hurt my eyes squinting, and with no place for a dvd place or xbox 360, it was basically worthless.

What I Learned

I learned two important lessons that day. The first was to always bargain. No matter what, it’s worth the potential embarassment to save money. I now bargain constantly and never let a purchase go by without haggling and at the very least asking for a better price.

The other, more important lesson that I learned is that I should pay for quality. $100 may have seemed like a bit of money as sophomore in college especially when you are broke and often needing cash advance, but there’s nothing worse than being out $100 with little to show for it. For another $50, I could have gotten a significant upgrade and been able to watch while relaxing on the couch. I could have been proud of my entertainment system instead of having to stand inches from the screen. Since then, I’ve made a conscious effort to avoid possibly horrendous purchases and spend money on the things I feel are worth it.

———-

Do you like this series? Check Out The Previous Foul Ups:

Foul Up #23 – Kristin (Instigationology) – Giant Elves and the $86 Movie I Never Finished
Foul Up #22 – Kyle (Suburban Dollar) – Being Down on High Interest Checking Accounts
Foul Up #21 – Brian (My Next Buck) – Pale Dude’s Shouldn’t Go Tanning
Foul Up #20 – Shawanda (You Have More Than You Think) – How Financial Knowledge Can Hurt
Foul Up #19 – Christine (Money Funk) – Love Can Hurt Your Financial Situation
Foul Up #18 – Clayton (Just Good Financial Advice) – Trying to Get Rich Quick
Foul Up #17 – Craig (Budget Pulse) – Black Friday Purchase Becomes a Dust Collector
Foul Up #16 – Jesse (PF Firewall) – The Fine Print of Rental Properties
Foul Up #15 – Paul (Fiscal Geek) – Unsuccessfully Restoring American Muscle
Foul Up #14 – Mrs. Micah (Mrs. Micah – Finance For a Freelance Life) – How Getting Married Wrecked My Finances
Foul Up #13 – Evan (My Journey To Millions) – Speeding Up Payments on Loan Interest, Not Principal
Foul Up #12 – Elle (Couple Money) – Stretching Yourself to have a Comparable Car to Your Friends
Foul Up #11 – Revanche (A Gai Shan Life) – Sibling Bailouts Cost More than Just Money
Foul Up #10 – Brad (Enemy Of Debt) – There’s Nothing Interesting About Interest-Only Loans
Foul Up #9 – Jason (Redeeming Riches) – Buying a Car with a Balloon Payment at the End
Foul Up #8 – David (Money Under 30) – Being Too Eager to “Move Out” and “Move Up”
Foul Up #7 – Matt (Debt Free Adventure) – Upside Down and Paying The Price
Foul Up #6 – Brian (MyNextBuck) – Overdue Books Prevent Me From Renting an Apt
Foul Up #5 – Kelly Whalen (The Centsible Life) – Poorly Planned Vehicle Purchase Costs $24,000
Foul Up #4 – Stephanie (Poorer Than You) – Signed My Life Away at Age 17
Foul Up #3 – Deliver Away Debt – How I Wasted Over $10K and 11 Months
Foul Up #2 – Brian (MyNextBuck) – Quick Fixes to Weight Loss
Foul Up #1 – Brian (MyNextBuck) – How I Didn’t Earn $3000 in Free Money

Need cash for the holidays? Christmas Payday Loans from CashAdvancer.com can get you cash immediately to enjoy your holidays.

7 Responses to Friday Financial Foul Ups: Not Paying For Value
  1. Abigail
    March 19, 2010 | 6:19 am

    It’s easy for those of us trying to be frugal to not pay enough for quality. Which ends in our spending even more money to remedy it/replace it.

    When we shop for anything over $40, I try to do a little research beforehand to find out what are good products. (Things like a humidifier or vacuum or some other appliance like that.) That way I have a basic idea of good, better, best. Then we try to find a good compromise between quality and price. Usually we end up going with “better” unless there’s a killer sale on the best.

    Then again, I spent extra on our vacuum cleaner after reading up on Consumer Reports. I never in my life wanted to pay $100 for a vacuum — even though that’s not bad overall — but I have to admit the investment was worth it. Plus I plan to keep this thing for years so I’ll get my money’s worth.

  2. Forest
    March 19, 2010 | 7:37 am

    I made a very similar mistake. I wanted a TV pretty much only for my xbox and I ended up with an old beater of a TV, it was big but you had to stand 100ft away for the picture to look clear… My games were pretty appaling. I have a small LCD now that was not expensive really at all and does the trick.

  3. hey
    February 21, 2016 | 12:21 pm

    Simply desire to say your article is as surprising. The clearness to your post is simply spectacular and that i can suppose you’re a professional on this subject. Fine along with your permission allow me to clutch your RSS feed to keep updated with impending post. Thanks one million and please continue the enjoyable work.|

  4. 1/4-Inch Drive Click Torque Wrench
    April 7, 2016 | 2:22 pm

    Very energetic post, I enjoyed that a lot. Will there be a part 2?|

  5. http://www.youblisher.com
    October 23, 2016 | 12:07 am

    Great subject for a post, I have not seen a lot written about this.
    Thanks, Kelvin

Trackbacks/Pingbacks
  1. Best of the Rest: Saying Goodbye Edition | Sweating The Big Stuff
  2. Friday Financial Foul Ups: Being Ignorant Of Your Finances Means Money Lost | My Next Buck
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/not-paying-for-value/trackback/