Rachel Cruze: 2 Items I Always Buy the Cheapest Version Of — And 1 I Spend More On
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Gabrielle Olya
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Amber Barkley
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There are always some items worth paying more for, but other times, the cheaper version will suffice. Money expert Rachel Cruze follows a few rules of thumb when it comes to what she saves on and what she splurges on in her own life.
Here’s a look at how Cruze, who is one of this year’s “Money’s Most Influential Women,” savvily spends her money.
Buy the Cheapest Version of Food Items
Grocery store shelves are flooded with name-brand food items, but you shouldn’t overlook the generic versions.
“When it comes to food, buy the store brand instead of the name brand,” Cruze told GOBankingRates. “They’re usually made in the same place anyway!”
Spend More on Frequently Worn Clothing Items
You shouldn’t splurge on an item you’ll only wear a couple of times a season, but if it’s something that will get a lot of wear, it’s worth spending more on.
“[I spend more on] things that wear and tear, like purses and shoes,” Cruze said.
Buying a cheaper item will typically mean it needs to be replaced more frequently, so you end up not actually saving money.
Buy the Cheapest Version of Party Supplies
Paper plates, napkins, decorations and other party supplies can end up costing a lot when purchased at conventional stores. That’s why Cruze said that she buys all of her kids’ party supplies at the dollar store.
Jaime Catmull contributed to the reporting for this article.
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