Money Crashers: Luxury Items for Less

Being ecofrugal, as I've often said, isn't simply about spending as little money as possible; it's about getting the best value for the money you spend. In many cases, spending more money up front is the smart choice, because it gets you a better product that will last longer (so you spend less in the long run) or work better (so you spend less money and time repairing it) or simply work better.

But paying more for quality only makes sense if you actually get what you pay for. And with many products — particularly luxury products — you don't.

My latest Money Crashers article is about four types of luxury products that aren't actually worth the money you spend on them, and about four alternatives that offer you better value:

• Lab-grown diamonds (as opposed to mined gemstones);
• Online opticians (as opposed to the uniformly pricey eyewear sold in stores);
• Inexpensive wines (which often taste as good as the fancy stuff or better); and
• Drugstore shampoos (which have the same ingredients as the expensive salon brands).

I realize it's unlikely that any of my ecofrugal readers are regular buyers of any of these luxury goods in the first place. But for anyone who's been assuming that spending more for fine wine or salon shampoo was a worthwhile investment because you get more for your dollar, this article should be an eye opener. And for those who don't buy these pricey items, but have sometimes wondered if they should, it should provide a very satisfying sense of justification.

Luxury Items for Less: 4 Affordable Alternatives to Luxury Goods