Today while scanning my usual personal finance sites I came across an interesting video (see below) on household gadgets that not only pay for themselves, but eventually end up saving you a little bit of money.
The video made me think of an interesting point, probably something which my much smarter readers have already thought of: when making a purchase, you should make sure you consider the long-term financial implications.
For example, if something costs $5 to buy now and ends up costing $95 to use over its life, you’ve essentially spent $100 on that item. However, if something costs $20 to buy but costs just $50 to use over its life, you’ve essentially spent only $70 on that item.
Long story short, you pay $15 more up front, but spend $30 less overall.
Anyway, watch the video I’m talking about:
For those of you who didn’t feel like watching the video, here’s the gist of it:
- Power saving strips and outlets
- LED TVs
- Do it yourself soda machines
- Water filtration devices (think: Britta)
- Home brewing system for coffee fanatics
- Reduced flow shower heads
These are definitely very interesting tips.
If I were in the market for a TV, I would definitely consider an LED HDTV, but right now that’s a little too rich for my taste. However, I’m definitely going to check out the special power strips they reference in the video. It seems like a pretty small investment that will pay for itself in just a month or two.
What do you think? Anything in the video catch your eye? Leave a comment below and, as always, please share this post using the social bookmarking buttons below and at the top of the page – especially Facebook and Twitter.