If you’re like me, you are probably more of a saver than a spender. If I am going to part with my hard earned money, it had better be worth it. I’m not one to collect the latest high fashion purses or luxury SUVs. I prefer to accumulate wealth instead of objects. However, if there is a hot new product or service out there on the market that can add to my wealth, I’m willing to make the investment. Here are 5 items that are worth the extra money. I give you my permission to splurge.
1. Smart phone. I will go ahead and tell you this because no one else will – if you’re still using a flip phone, you just look silly. More importantly, you’re missing out on a lot of great technology and the ways that it can make your life easier and even more profitable. Whether you spend extra money buying the iPhone 5 or the Samsung Galaxy, it will be worth sacrificing a little bit of saved wealth. Smart phones can help you access work and personal emails, keeping you connected to the office if you have to stay home to nurse a sick child. You can also get to all your social networking sites and play Words with Friends. The number of available apps will make your head spin – and many of them are free.
2. Health insurance. Invest in your health wealth by making sure you are adequately covered. Whether you support Obamacare or hate it, the Affordable Healthcare Act is the law of the land, which means you must be covered or pay a penalty when you file your taxes. If your employer offers you several different plans, avoid choosing the least expensive plan just to save some money. Pick the plan that offers the most coverage, even if it means paying a higher premium every month. It will save you money in the long run. If you are self employed or buying your own personal plan, shop around. Save your health wealth by spending a little more on your monthly premium when it means lower co-pays, smaller deductibles and more coverage.
3. Green products. You might bristle as spending extra money on those light bulbs that look like illuminated curly fries, but those fluorescent bulbs can protect your wealth when the electric bill gets tallied. They are far more efficient and they last longer than the has-been light bulbs. Using green cleaning supplies are also good for your health wealth – less toxins and chemicals to make you sick. The money you spend on anything trying to make your world and the planet a better place is worth it.
4. Coffee. I know we’re supposed to be satisfied with our mass produced canisters of coffee so that we can make and drink it at home and save the money we would spend on lattes and mochas from Starbucks, Panera, Dunkin’ Donuts or your coffeehouse of choice. But come on, we have to be able to splurge somewhere and I am more than willing to fork over $5 or more for a steaming cup of deliciousness. If my nonfat vanilla latte habit is going to impede my wealth, I’ll retire later.
5. Charity. With governments tightening the belt at the federal, state and local levels, much-needed services are getting cut, which leaves vulnerable populations even more vulnerable. Your money will do a lot of good when you donate it to an organization that serves children, the poor, the elderly, people with disabilities and other groups that desperately need help. Your wealth will be better appreciated when you help to take care of others, yes?