Cheap is More Expensive

A good sale saves money – most times this is false.

Photo from Tim Parkinson’s flickr

I shopped at the Mong Kok Street three consecutive nights while I’m in Hong Kong. This street is a long expanse of small retailers selling dropdown imitation products from clothes to cool USBs. Can you imagine buying Lacoste shirts for a quarter of its original price? I’m not a recreational shopper but I couldn’t stop.

I came home with more on my suitcase. I bought “branded” shirts, watches and a pair of shoes for me; another dozen of shirts for my family and bags for my mother and sister (picked randomly and they loved it!). But I regretted buying them all.

I learned something about myself. Heads up mothers, this may give you a heart attack: I don’t like sale items.

I need not any of the items I bought in Hong Kong. I never used the shoes because I realized I hated the dire design. The strap of the watches peeled (turned out they’re made from plastic). After the first few wash, the clothes are indistinguishable from a rag. I depleted my entire budget for that trip because everything’s so cheap it feels like I should take advantage of it.

But cheap price is cheap quality. They don’t last long. They don’t satisfy you with the value you deserve.

After the Mong Kok street experience, I always get myself the topnotch original brands simply because I deserve the best. There may be some delays to my purchases, but that delay adds up to the excitement and happiness of buying the product. I’ve grown to give-up my quest for instant gratification that cheap products give because that gratification will go fast and will become frustration.

Like David Hays says, “Buy it once”. Choose the better quality products with better value. Buy for long term use and lasting gratification.

What cheap product you have to buy twice after the first broke?

More Moments for you:
The Act of Doing
Walk Away from Traffic
No Time for TV

Mention:
Buy It Once: When More Expensive Is Cheaper; Black Star Rising

Privacy, a Commodity

Everybody’s public unless you buy your privacy.

Photo from stock.xchng

I looked for opportunities to sell my phone online. eBay and Craigslist are good options but I did my research to know if there’s another way to sell it faster. After that, the ads in the webpages I visit are by gazelle.com, a website that buys gadgets. This happens to you as well.  Our activities online were tracked and the ads we see are customized according to our interests.

It’s not only online where we are scouted. Go to a store and see yourself in the monitor as you move in the CCTV camera. Travel abroad and they’ll require your photo for the immigration. Apply for jobs, sign up for a service, download anything – almost in everywhere you’ll have records of what you did and where you’ve been.

Researchers from the German Institute for Economic Research and the University of Cambridge investigated whether people will pay more money for privacy. People are willing to give their phone numbers when buying movie tickets as long as they’re paying less.

Carnegie Mellon University researchers countered this study. Their results show that people will pay 60 cents more for a $15 item to protect their privacy.

Products like Evernote, a terrific notes software, will ask you to buy premium just to get rid of Ads. If you’re poor, you wouldn’t pay for premium. You’ll stick with free and get used to the parties tracking your activities for relevant ads posting. If you can afford, you can buy and disappear just like that.

In this time where privacy was becoming a luxury commodity, are you willing to pay for it?

Sources:
What Would You Pay for Privacy?; The New York Times
Study: Shoppers will pay for privacy; CNet