Is buying cheap clothing a good deal? 3 kinds of festivals that millionaires tell you not worthy of

Diligence in family management is a virtue, but not every habit is worth it. Personal finance website GO Banking Rates visited two self-made millionaires to learn what they tried to do, and found that some did not match their value. Here are three festivals that the two millionaires believe are not worthy of practice:

The three festivals are not worthy of practice

1. Buying cheap clothing

Davenport and his wife are both successful millionaires. They own a once-winning handmade winery called Three Crosses Distilling Company, and invest in real estate.

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One of the habits that the couple tried to raise was to buy cheap, unbranded clothing; but they quickly discovered that at first the money they saved still had to be spent on buying better-quality clothes. Davenport said non-cheap clothing at discount stores or large lockers would not be suitable for them; these clothes would fade, shrink or go away, and eventually they would have to use the money they saved to buy better quality clothes.

2. Buy cheap home purchases

Another self-made millionaire, Brenda Christensen, the president of Stellar's responsibilities, has tried many festivals over the years. She said she used to buy cheap cheap home appliances that saved money, but she soon discovered that buying poor quality home appliances would lead to higher conversion rates and more money. This result allows Kris Texen to adjust her approach, she said that it is better to choose durable products than to buy cheap home appliances.

Klissen said that in the long run, investing in high-quality durable products is more cost-effective even if the price is slightly higher; reducing the frequency of repair and replacement, saving trouble, and better investment returns.

3. It is quite common practice to manually maintain the courtyard and clean the swimming pool

to manually handle the home repair and improvement work by yourself. Many people think that since you can mow the lawn yourself or fill in the gaps in the porcelain bricks in the bathroom, why do you still have to spend money to do it?

Krysan Tengsen said that for a while, she had been using her own hands to beautify the courtyard landscape and clean the swimming pool, thinking it was a good way to save money, but she soon realized that doing these things was too much time, especially the value of her working time; so she adjusted the habit of the session and handed over the garden and pool cleaning work to others.

Krysan Tengsen said she was grateful that others could take care of these jobs, which saved her a lot of time and could spend this time more efficiently on her career. Although the session is important, it must balance time efficiency, long-term cost-effectiveness and overall quality of life; sometimes spending more money in the early stage or outsourcing certain work, long-term viewing can save more spending and improve work efficiency.