Investments come in all shapes and sizes. For some, that means investing in large amounts of stock that will one day, hopefully, pay dividends by becoming more valuable than the price you bought it for. But investments aren’t only to be considered as part of the stock market.
For instance, consider the recent worldwide spread of Covid-19. It has been quite clearly documented that Vitamin D supplements can very much help lessen the symptoms or reduce the chance of you experiencing difficulties if infected with this. So – you know that investing in a Vitamin D supplement is a worthwhile use of your time. But what kind? Do you opt for the super cheap Vitamin D tablets, giving you 1000 IU’s per tablet? Or, do you invest in the super strength, delivering 2,000 IU for three times the price? It might be more than you’re interested in paying, but you know that the investment is more worthwhile in this case, given the reason for purchase and the potential rewards. Another person may not make that same decision.
So – how can you know a quality investment when you see one? What are the metrics to consider it by? Let’s consider that, and more, below:
An Investment Ages Well
An investment ages well, and can sometimes be quite lucrative. This doesn’t necessarily mean you have to invest and then sit on your investment for some time. It could mean that when purchasing the new Land Rover Discovery, you take care of it, and in ten to twenty years you may even sell it for close to (or more than) the asking price, depending on where you decide to market it. An investment like this ages well, and it’s always worth considering future profitability when spending on luxury or quality.
An Investment Has Hidden Benefits
Remember that an investment – of any kind – often has hidden benefits to speak of. Using our vehicle example, investing in a high-quality brand with access to non-proprietary repair tools can help you not only experience less breakdowns, but also you’ll get up back to speak more easily if you do experience one. That has to be a net positive regarding how we think of spending money, because it’s not always the case that saving is the prime motivation if you hope to apply good money management.
Bang For Buck Doesn’t Always Mean Cheap
Remember that ‘bang for buck’ doesn’t always mean spending as little as possible. An expensive item can have great value in terms of it’s overall worth, and what it gives you. In fact, often, higher quality items are worth spending on because they’re priced that way for a reason. It’s quite clear if you’re purchasing something for solely the brand name or not. For this reason, make sure not to only view items based on your apparent budget. It can sometimes be worth saving up a little more to acquire an item you KNOW will last.
With this advice, we hope you can know a quality investment when you see one.