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It's not true though, not any more at least. A supermarket pair of shoes is much, much less than even resoling of quality shoes. It's definitely cheaper to just
by blfr 5y ago
It's not true though, not any more at least. A supermarket pair of shoes is much, much less than even resoling of quality shoes. It's definitely cheaper to just wear them for a season or two instead of buying shoes that might last you a decade or two or more but cost 8-20x more and require expensive (in terms of cheaper shoes) fixes.
- cauliflower2718 5y agoBack in the day, I used to spend ~$20 for a pair of rainboots, and they would invariably leak within a year. This stopped happening when I bought ~$50-$100 rain boots, which are certainly not grocery store boots. A $50-$100 pair of rain boots isn't exactly top quality, but is still much better than a $20 pair.
- scyzoryk_xyz 5y agoOh you’re talking about the level of quality leveling off at a certain point when increasing price. The quality difference between a $10 product and a $100 product of the same type is enormous. But then when you go up to $200 the quality increases much less. There is a name for this that I can’t recall right this second, the point being that there is a sweet spot price/quality wise for most things.
- aceki 5y agoYou're thinking of the Law of Diminishing Marginal Returns
- cuu508 5y ago"sweet spot", "the point of diminishing returns"
- amanaplanacanal 5y agoWhen it comes to clothing, a lot of people pay extra for specific brands, especially if the tag is on the outside so that other people can see it. Best not to do that if you are looking for good value.
- Bootvis 5y agoMaybe not for boots but what about housing?
- nomorewords 5y agoYeah, the above comment kind of stuck to the analogy item of shoes. A lot of the things that are quality and are worth it (from a long-term POV) are going to be better value than getting the lower quality item more often, than the one time purchase. Housing is also getting pretty bad. Essentially, the lower your income, the more you are expected to pay back to the bank since you can only put aside so much money for the mortgage each month. A well-off person will pay his house as much as 2-3x faster than a 'poor' person, essentially allowing him to invest for the future at a much earlier stage in life.
- viraptor 5y agoThere are also extras that come with the home. The better house you buy, the less you spend on heating/cooling. The more you can invest in solar panels / batteries, the less you spend on electricity. The bigger house you get, the more space you can use for buying bulk items. The more exclusive area you live in, the lower the insurance. And many others...
- WalterBright 5y agoOn the other hand, mortgage interest is often the cheapest way to borrow money. A savvy wealthier homeowner may very deliberately minimize paying back the mortgage in order to invest the borrowed funds elsewhere. Mortgage interest is also tax-deductible, while personal loan interest is not. This makes the mortgage the last debt to pay off, not the first.
- lotsofpulp 5y ago> Mortgage interest is also tax-deductible, while personal loan interest is not This does not affect 80%+ people, who are better off with standard deductions since 2017 tax cuts and jobs act. In 2018, 87% did not itemize. https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-glance https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-...
- kylegordon 5y agoIt's an analogy, not a shoe review.
- blfr 5y agoSure but mass production has made it true for virtually all mass produced goods.
- dstick 5y agoPlease note that this is a quote from a fantasy world that is a disc, that rests on the back of 4 elephants, that stand on the back of a turtle that's swimming through space. Take the specifics with a grain of salt ;-)
- Dah00n 5y agoSounds less messed up than this world..