The High Cost of Going Cheap: When Inexpensive Is Bad

There is a lot to be said for a great bargain. You spend less than you’d typically have to shell out and get something of value in return. But sometimes, the great deal you think you’re getting isn’t all that great. There are several circumstances where going cheap can even be dangerous.

Childcare

Parents spend hundreds, even thousands, of dollars on car seats and safety gear to protect them. We spare no expense for the babies, and then sadly, many parents seek out the least expensive childcare in the area to save money in the monthly budget.

There is no doubt that childcare is expensive, but paying for the lowest-cost provider may also give you the least effective care. A babysitter or childcare provider who brings in children paying the bare minimum will have to bring in more clients to make a fair profit. Charging less per kid means more kids with less attention to make a profit. There are legal considerations regarding how many children a babysitter can have, but sometimes, paying more for individualized care is worth it.

Workplace Safety

There are a lot of expenses that go into preparing yourself for a day on the job, regardless of industry. This is especially true, however, for those who work as contractors or employees in potentially dangerous situations like oil rigs and refineries.

Since fire retardant clothing and steel-toe shoes are often the safest choice for this sort of exposed work, they are recommended for everyone but are frequently not provided by the company. Fortunately, workers looking for safety can buy their clothes, yet many don’t. Skipping out on safety gear or buying the inexpensive version sold by discount retailers may worsen a harmful situation if there ever was a true emergency. In the case of equipment and clothing designed to keep you from harm, all expenses should be considered an investment rather than a cost – regardless of price.

Home Security

Finally, there is an astonishing lack of investment in protecting our most expensive purchase – the family home. In most cases, your house is your most costly monthly line item and is somewhere you should feel safe and secure. Yet most homes are barely secured against invaders – a backdoor with a standard lock, for example, is a simple matter to open. Often, a burglar or invader can kick it open in a heartbeat.

It can save you a lot of money to skip the monitoring on your home security system, and there are even more significant savings if you stick with all of the standard builder-grade locks and doors. We often don’t realize how unprotected we are until someone shows us how flimsy that door frame or lock is. Invest in a home security system with monitoring, and you’ll have a more significant peace of mind and keepg your family and possessions far safer in an unpredictable world. That is worth almost any investment.