5 Times You Have to Spend Money to Save Money

When making purchases, you shouldn't get caught up in the cost of the item; it's all about the value of what you're buying. Most people don't think in these terms, unfortunately. It's hard for many of us to sit down and really think about how the impact our purchases will affect us in the long run. We want what we want when we want it and don't think about the future.

You should be paying as much money upfront as you can in order to save money over time. This is why it's important to make sure that you're budgeting and saving for certain things, so that you won't hurt too much when it's time to dish out the dollars. This is the true way to be frugal.

Here are 5 things that you should be spending good money on to save big in the long run.

1. Insurance

Health. Life. Car. Homeowners. Renters. You're dishing out hundreds of dollars each month to cover these insurance premiums. Yes, having lower premiums trim your costs down each month, but when it's time to actually use your policy, are you fully covered or will you have to come out of pocket for even more money? Having an insurance policy that will work for you and save you money when life happens is major key.

2. Timely maintenance

Need some repairs done in your home or on your car? You should make sure that you are taking care of these things in a timely manner. What you thought was just a small leak could turn into so much more if you procrastinate on fixing the issue. This is why it's important to have emergency funds set aside for when these unexpected expenses pop up.

3. Essential clothing & shoes

Invest in pieces that will actually last a few years instead of picking up cheap, poorly made items that you have to replace often. Here, it's all about quality over quantity! A great bargain isn't always great on your wallet, especially if the cost of buying an cheap item twice adds up to more than the better version of it.

4. Furniture

Yeah, that bargain furniture may look nice, but it's not doing you any good if you have to keep replacing essential pieces. Invest upfront in some quality pieces that will last years, you will save money and a headache. It's all about durability and craftsmanship.

5. Groceries

Processed foods are usually cheaper than fresh, but we all know that we shouldn't be eating that junk. Focus on buying healthy foods and your body will thank you for it. In the long run, cooking at home saves you money -- plus you know what's actually going into your body. If you don't invest in your health now, you may be more susceptible to paying higher medical bills later.

The bottom line is this: Sometimes, it just doesn't pay to be cheap.