When you shop, are you all about getting more for your money, or do you prefer to get the most for your money? In this case, more means quantity - give me all the white tees in my size! Most means quality - give me the very best white tee made no matter the cost.
People tend to fall into two funnels with their shopping - quality or quantity. Let’s take a look at the pros and cons of each.
Pros of a quality-minded spender:
Pro #1. A quality-minded spender is generally patient and willing to wait to find the best possible addition to their home or closet.
Pro #2. A quality-minded spender is more aware of the benefits of construction, good materials, and is looking to make an investment that may cost money up front but saves money in the end.
Pro #3. A quality-minded spender usually has timeless taste that avoids trends; therefore, their purchases outlast fads.
Cons of a quality-minded shopper:
Con #1. Purchases can be time consuming and require research and endurance to secure the right goods and services.
Con #2. Quality-minded spender can get stuck in a rut and sometimes seem stuffy or out of touch with current trends.
Con #3. Sometimes a quality-minded spender will be unable to find what they want or need at a reasonable price and be forced to forgo or settle for something less than they want.
By contrast, let’s check out the quantity-minded spender
Pros of a quantity-minded spender:
Pro #1. A quantity-minded spender is savings savvy. Generally, they are aware of what stores provide deals on goods and services and keep their finger on the pulse of the sale rotations.
Pro #2. A quantity-minded spender is all about fast-fashion or products. The hunt is the game and being on-trend and saving money is priority. The construction or durability of an item is a secondary consideration.
Pro #3. A quantity-minded spender likes shopping. They like turnover and change. They get bored easily and want affordable items to satisfy their enthusiasm for variety.
Cons of a quantity-minded spender:
Con #1. They don’t really save much money. Due to the lower quality and disposability of many items, the money saved in the short term is lost after replacements are needed.
Con #2. They impulse buy. Being in the stores frequently raises awareness and desire for more. Quantity-minded people generally like to shop and are easily influenced by bright shiny objects.
Con #3. They aren’t always sure of who they are. A quantity-minded spender is easily influenced by trends or sales. They may make purchases on a whim and let them sit in a closet. They don’t know exactly what they love and why and can feel less confident in their own skin.
There is no 100% correct way to spend. Ideally, having a bit of cross over between quality and quantity can help save time and money and help make wise spending decisions. Being aware of the pros and cons can make spending decisions better and keep money from being wasted.
We recently wrote an article for a blogger that focuses on how we paid off debt. We did this by starting lots of business and side hustles - like trading stocks and blogging.
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