I recently overheard a conversation of two gentlemen discussing a home remodeling project. The younger of the two was explaining how he was preparing to paint a few rooms in his home. His wife was picking out colors and he was soon going to purchase the paint and begin his project. The older of the two men listened intently and besides jokingly saying 'have fun with that project,' gave only one piece of advice, 'buy the more expensive paint.'
This comment seemed to catch the younger man off guard and he responded to the advice with, 'but the more expensive paint is nearly double what the lower priced paint is, is it really worth the extra money?' That question was answered with a simple, 'just trust me, it is in the long run.'
If you have ever painted a room you know exactly what both men in this situation are thinking. The younger guy is confused because it's just paint, I am just trying to add some color to my walls and do I really need to spend the extra money. While the older, wiser, guy is trying to save the other from a headache, time and money due to possibly having to repaint the room again down the road.
I mean seriously, it's just paint, right? Continue reading "In Life And Investing Always Remember 'Cheap Is Expensive'"