Three years ago, I needed black shoes for a wedding. I went to the store and saw two pairs.
- Pair A: Beautiful leather, soft sole, $150.
- Pair B: Shiny plastic, hard as a rock, $20.
I thought, “I am smart. Why would I pay $150 when I can pay $20?” I bought the cheap ones. I felt like a financial genius.
Then came the wedding. By hour two, my toes were numb. By hour four, I was limping. By the time the dancing started, I was sitting in the corner with my shoes off, taping band-aids to my heels.
I threw those shoes in the trash (ofc, not. Those are $20) the next morning. I had spent $20 to be miserable for six hours.
That was the day I learned the difference. Being Cheap is about the price tag. Being Cautious is about the value.
This is the secret formula that rich people know, but they don’t tell us.
It is called Cost Per Wear.
Let’s look at those shoes again.
- The Cheap Shoes: Cost $20. Worn 1 time. Cost = $20 per wear.
- The Good Shoes: Cost $150. If I wear them to work twice a week for 3 years (300 times). Cost = $0.50 per wear.
Suddenly, the “expensive” shoes are actually 40 times cheaper than the “cheap” shoes.
Being Cautious means doing this math. It means asking, “Will this last?” Being Cheap means only looking at the number on the sticker today and ignoring how much it will cost you tomorrow.
You can’t buy the expensive version of everything. You will go broke. So, how do you decide? I use a simple rule.
Buy it Cheap if:
- Itās Disposable: Paper towels, trash bags, notebooks.
- Itās a Trend: A green hat you will wear for one summer.
- You won’t use it often: A drill you need for one hole. (Or better yet, borrow it!).
Buy it for Quality (Cautious) if:
- It separates you from the ground: Shoes, tires, mattresses. (These affect your health).
- You use it every day: Your office chair, your laptop, your kitchen knife.
- It protects you: A helmet, a winter coat, insurance.
There is a famous story in a book by Terry Pratchett called the “Boots Theory.”
It says that a rich man buys $50 boots that last 10 years. A poor man can only afford $10 boots that last 1 year.
Over 10 years:
- The Rich man spends $50.
- The Poor man spends $100 (buying new boots every year) AND he still has wet feet.
Being Cheap keeps you poor because you are constantly replacing broken junk. Being Cautious means saving up to buy the $50 boots so you never have to buy them again.
It takes patience. It takes discipline. But it is the only way to get off the wheel of buying junk.
Value Your Comfort
I went back and bought the $150 shoes. It hurt to swipe my card. It was a lot of money.
But three years later? I still have them. They look great. My feet are happy. And I haven’t spent a single penny on dress shoes since.
Don’t let the price tag scare you. Look past the dollar sign. Sometimes, the “cheapest” option is actually the most expensive mistake you can make.
Be smart. Be cautious. But please, buy the good shoes.
