True. But you have to pick your battles. I’ll spend top dollar on high quality items that have utility. I spent $3,500 on a Rolex Submariner back in 1994. That watch was on my wrist for every mission I flew as a UH-60 Blackhawk pilot for over 20 years. It’ll get passed down to my son eventually. Lucky for him it has tripled in value.
Spending good money on furniture and mattresses makes sense too. Plus you need at least one nice suit and quality shoes.
But yeah, I try to be miserly with everything else…
Spending good money on an appreciating asset or an item that will never need to be replaced is one thing, spending top dollar on something that depreciates 20% in the first year is something entirely different.
Then financing that depreciating asset at a 6%+ interest rates is next level bad idea.