Scrimp or Splurge? When to Save, When to Spend

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Sara Eckel on Sep 8, 2009 at 2:05PM

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Scrimp or Splurge? When to Save, When to Spend

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Making the Most of Your Money

With budgets tighter than ever, the question about scrimping or splurging might seem moot—shouldn’t we pinch pennies wherever we can? Actually, there are times when spending a little extra cash up front will save you more in the long run, says Sara Noel, syndicated columnist and creator of FrugalVillage.com. “Whether you’re frugal or not, you don’t want to make a cheap, low-quality purchase and then have to replace it,” says Noel.

Of course, we all have different priorities—a pair of designer boots may seem like a long-term investment for one person, a wasteful vanity purchase to another. But experts have identified some overall categories to help you determine when to hang onto your cash and when to let loose…

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