MW These purchases are '100% worth' the high price, Reddit users say. We asked the experts.
By Hannah Erin Lang
From tooth fillings to concert tickets, here's what experts said about which purchases are actually worth splurging on.
Is it worth it to spend $3,000 on a mattress? What about $400 on sound-canceling headphones? In an era where the cost of everything seems to be skyrocketing, are there seemingly overpriced items out there that are actually worth the cost?
That was the question that one user posed on the online forum Reddit (RDDT) earlier this week in a post titled "What seems to be overpriced, but in reality is 100% worth it?" The query spurred tens of thousands of responses offering different takes on which expenses - from teeth fillings to high-quality toilet paper - are a good investment despite the high price tag.
But which of those suggested splurges are truly financially savvy?
MarketWatch talked to money experts about some of the most popular items in the Reddit thread to see what they thought was actually worth spending extra on. Here's what they said.
A mattress
The consensus: Worth it.
The most popular reply to the thread, with about 25,000 upvotes, vouched for investing in a comfortable mattress. Experts agreed that it was worth the splurge. Fancier mattresses can run more than $3,000.
"You use it every day, and they last a long time," said Emy Lee, a former accountant and spending coach with more than 65,000 followers on TikTok. "Having good sleep affects so many areas of your life."
Many Americans don't get enough sleep, yet getting better shut-eye has been linked to cutting your risk of dementia, improving your overall health, and even making you a better investor.
Eric Roberge, a certified financial planner and founder of Beyond Your Hammock, a financial-planning firm based in Boston, also supported spending a little extra money for higher-quality rest.
"For me, sleep is so important for me to function in my day," he said. "I'm going to spend a lot on my mattress because it's going to create the environment for me to make more money, be more satisfied and communicate better with people."
Kimberly Palmer, a personal-finance expert at NerdWallet, agreed: "That definitely goes in the bucket of where you want to splurge."
A warm winter coat
The consensus: Mostly worth it.
Should you invest a little extra in a warm winter coat? To state the obvious: "If you're in Florida, probably not a good buy," Roberge said.
But if you live in Boston, where he's based, you'll be wearing that coat every day for half the year, and it's definitely worth spending a little extra one time to stay warm all year.
Lee also said she considered a winter coat a worthwhile investment. She likes to think about big purchases in terms of cost per use - and if winters are long where you live, that cost-per-wear will probably be just pennies.
Cold-proof coats can be quite expensive: Canada Goose $(GOOS)$ jackets can set you back $1,850, while Aritzia's (ATZAF) popular Super Puff ranges from about $200 to nearly $500.
But Palmer noted that "high quality" and "expensive" aren't necessarily synonymous. You can often find well-made warm coats for a cheaper price, she said, by visiting outlets, skipping brand names or shopping clearance racks at the end of winter.
"I would say you can skip spending extra on a winter coat, just because it's so easy to find high-quality low-cost ones," she said.
Shoes
The consensus: Split.
A good pair of shoes was another popular response to the Reddit thread, with one user saying "anything that separates you from the ground" - mattresses, tires and footwear included - is probably smart to spend extra money on.
"Just spent about $90 on shoes this last weekend, hadn't had a new pair of tennis shoes in like 4 years," one commenter wrote on the Reddit thread. "Honestly, they're like pillows. I have no idea why I waited this long to treat myself."
Palmer said to go ahead and shell out a little extra on your footwear. Good shoes can protect your feet, keep you comfortable and even prevent other health issues.
Lee said to hold off on splurging. "I don't think shoes nowadays are built to last," she said.
Roberge was somewhere in the middle. He said it depends on the kind of shoes, how often you wear them and - the criteria on which he judges most large purchases - the value they would add to your life.
Some consumers treat sneakers by Nike $(NKE)$ and Adidas (XE:ADS) as collector's items. On-trend shoe brands like Birkenstock $(BIRK)$ and Crocs $(CROX)$ can have three-digit price tags, and luxury brands like Tod's (IT:TOD) sell loafers for over $1,000.
"I will spend $200 on workout shoes," Roberge said, because they'll support his joints at the gym and he'll use them about five days a week.
But dropping big bucks on dress shoes? Never, he said. "I couldn't care less."
Dental work
The consensus: Worth it.
Many Reddit users advocated for investing in proper dental care, with several arguing that paying for procedures early on saves more money than allowing a minor dental issue to worsen over time.
"I learned the hard way," one user wrote. "Basic dental procedures are cheap, even without insurance. Difficult procedures are expensive, even with insurance."
All three experts agreed it's worth spending a little extra to ensure your pearly whites are healthy: "Spend on what you need to stay healthy," as Roberge said.
For those with dental insurance, not every visit to the dentist will cost big, Palmer noted. That insurance typically covers annual cleanings and check-ups, which could prevent the need for more expensive dental work later on.
Americans spent $165 billion on dental care in 2022, according to the most recent figures from the American Dental Association. The cost of keeping teeth and gums healthy drives some people to seek cheaper treatment outside the U.S., while others forgo dental care altogether. That can have negative consequences for people's overall health, as poor dental health has been linked to problems such as strokes and cardiovascular disease.
In summary: cleanings, fillings and other necessary dental care are important to your well-being and therefore are worth spending extra on, experts said.
As for whitening, veneers or other cosmetic procedures? That's where things get a bit more discretionary, Roberge said: "Probably not a good buy, unless you're a model."
Concerts and other 'experiences'
The consensus: Only worth it sometimes.
"Splurging on an experience, like a concert ticket, a weekend getaway, or a class you've been wanting to take creates lasting memories and happiness that a physical object can't," one Reddit user wrote, in a response to the thread that got well over 1,000 upvotes.
But deciding whether a once-in-a-lifetime experience is worth splurging on tends to be a really personal decision, experts said, and more of an art than a science.
"For a lot of people those kinds of experiences are just priceless," Palmer said.
Taylor Swift fans, for example, spent more than $1,300 on average to see her Eras shows last summer, according to one survey. One MarketWatch columnist argued that the Ringling Bros. and Barnum & Bailey circus is a better deal than a Taylor Swift concert in terms of entertainment value, with tickets ranging roughly from $25 to $120.
This is another case in which price does not necessarily match quality - free shows or other cheap outings can sometimes be just as memorable as expensive concert tickets, she noted.
But few things are worth jeopardizing your financial health for, Roberge said. If spending on that vacation or concert ticket will plunge you into high-interest debt or derail other, more important financial goals, that's a good sign to think very carefully before buying.
Movers
The consensus: Worth it, if you can afford it.
One Reddit user wrote that professional movers that help you pack, unpack and transport your belongings from one home to another are "worth their weight in gold."
Lee agreed with that assessment: "I've moved 21 times in my 30 years of life and I will tell you, getting a mover is worth it," she said.
Local moves cost an average of about $1,700, and it's a good idea to shop around to try to find the best price, according to personal-finance website NerdWallet.
If you're going to hire movers, be sure to book with a quality company, Roberge said. It's better to lug your possessions around yourself than pay for cheap help that ends up scratching your furniture - an experience he had during an earlier move.
Palmer put it simply: "There's really few things that are more stressful than moving," she said. "Anything that can help alleviate that stress I think is worth it."
We want to hear from readers who have stories to share about the effects of increasing costs and a changing economy. If you'd like to share your experience, write to readerstories@marketwatch.com. Please include your name and the best way to reach you. A reporter may be in touch.
-Hannah Erin Lang
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 04, 2024 12:33 ET (16:33 GMT)
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