As money savvy people, it feels great to find the lowest sticker price. But have you ever bought something because you were enticed by a low price only to regret it later?
The example we gave has to do with airlines, but this same concept applies in other areas too. Fast fashion is inexpensive but you might not love how it looks so you only wear it once. A fixer upper may only be what you can afford in your area, but it comes with so many unexpected expenses and headaches.
In our example, we aren’t even taking into account a lot of other things that will influence your experience like customer service, boarding process, flight cancellations, and so on. We are definitely not saying you are guaranteed a good experience on a regular airline, but the chances are likely higher. All of this needs to be factored into the price you pay.
From some quick research, no airline currently charges a bathroom fee (thank goodness!!). There has been some talk from a couple of the budget providers about adding one. It doesn’t seem like the thing to exactly win over your customer, but who knows.
What’s the takeaway for you? Focus on the total cost AND the value of what you will be getting. Once you know the total cost, happily spend money on things that bring you joy and find ways to cutback in the areas that don’t excite you.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Vivi & Shane
