The Cost of Cheap

I loved this sketch and article by Carl Richards in the New York Times.  See: http://bucks.blogs.nytimes.com/2012/06/26/the-case-for-spending-a-little-more-sometimes/
Mr. Richards' thesis was that waiting until we can afford to buy good things that will last, or that we will use for a long time, is a better economic decision. The old adage, "We're too poor to buy cheap things" was quoted and it reminded me of the many times in my own life when I have forgotten the power of delayed gratification and I purchase out of impulse because of the catalyst of a sale or seeming bargain. Of course some businesses are built on the principle of cheap, available and disposable, but I'd prefer to think that after time the "Old Navy's" of the world become something else.  We have a store not far from our Rhode Island home called "Benny's".  Our best friend's twin girls over the years (they are 16 now) have come to call the store, "Broken Benny's" because whatever you buy there seems to break or wear out within a few week or months of purchase.  And when you add up the dollars spent, you find that you ended up overspending versus buying quality the first time. As I once told a professional services vendor, "Look, I'm an American consumer, and that means I want it now, I want it perfect, and I want it free or at least cheap".  What Mr. Richards points out so well is that we can't have our "cheap" cake and eat it too.