Cheap Or Value For Money? Why The Lowest Price Can Cost You More

You bought the ₹600 shoes because the ₹1,800 pair seemed “too expensive”. Three months later, the ₹600 shoes are in the bin, and you’re back looking for another pair.

Congratulations. You just bought the expensive way. We often confuse paying less with spending less. But they aren't always the same thing. A cheap product can save you money at the checkout counter and cost you more later. Good value, on the other hand, is about getting your money's worth — through quality, durability, usefulness or simply how often you actually use something.

The smartest shopper isn't necessarily the person who finds the lowest price. It's the person who knows what is worth paying for. Someone who knows the difference between cheap and value for money.

Look beyond the price tag

Imagine buying a ₹1,500 mixer because it's cheaper than the ₹4,000 one. But what we miss is that the 1500 one will need so much maintenance that you end up sending 5000 at the end of six months!

“I so relate to this,” says Radha Rathod, a home chef. “I fell for the price game and bought a mixer-grinder for 2000 a few months ago against the wishes of my husband. But the motor heats up in three minutes of running and I have had coil replaced twice in last seven months. Effectively, I have already paid 4000 for it. If I had bought the 5000 one, which had one year motor guarantee I would have been a better place. Especially so as the equipment is essential for my profession.”

This doesn't mean expensive always equals better. Far from it. Sometimes you're simply paying for a fancy logo, unnecessary features or packaging that looks like it belongs in a museum.

Think of it this way: Spend more where failure will annoy you. Save where it won't.

Cheap can be smart

If you need a phone cover for a few months, a basic one may be perfectly fine. If you're trying a new hobby and aren't sure you'll stick with it, buying the affordable version makes sense. And if you're looking for something temporary, why pay premium prices?

Good value is about matching the product to the purpose. Not really about the MRP.

“I don’t invest in my bags or phone covers because I love to change them every few months,” admits 29-year-old Brijesh. “I have a fettish for phone covers and laptop bags. And I like to go with the trending design. Therefore, I never go too expensive stuff.”

Beware of the bargain trap

Discounts are experts at making us feel clever and trap us into buying stuff you don’t need or to buy cheaper stuff that doesn’t last long.

Before buying a “great deal”, ask yourself: Would I buy this at full price? If the answer is no, you probably don't want the product. You want the feeling of getting a bargain.

It also helps to think about the hidden costs. Will it need frequent repairs? Does it require expensive accessories? Is it difficult to maintain? Will you replace it quickly? “Pause before shop is the trick everyone should learn,” says Bhavika Sanjgiri, counsellor form Parra.

Smart buy

Being smart with money isn't about always buying cheap or always buying premium. It's about pausing before you pay and asking what you're really getting in return.

Value for money should be the mantra while shopping. Certain products like shoes, lingerie, white goods require higher investment because they last longer and give value for the investment. Sometimes even a trouser or a jeans. A 300 jeans might wear off in three washes giving you 100 rupees value per wear. But a 3000 worth jeans can last for 100 washes giving the value of 30 rupees per wear. That makes 3000 more value for money in the long run.

Sometimes is the smartest choice. Sometimes ₹3,000 is. And sometimes, the best-value purchase is the one you don't make at all.

Because cheap is what you pay. Good value is what you get.

Published on: Sunday, October 11, 2026, 07:20 AM IST