I’ve spent a lot of time on this blog writing about saving money and living a lower impact lifestyle. But sometimes I find strange anomalies in my life worthy of sharing. It has taken some time, but as I mature, I’ve realized that I’m becoming much less “cheap” than I once was, and I’m starting to view objects, purchases and experiences through the lens of total value. I went though a period of my life always looking for the least expensive solution to any problem I encountered. And I still value that perspective. However, occasionally I would end up making purchases or repurchases of objects that provided both an inferior experience and cost more in the long run.
So what is the “Nice Pencil Principle”? I’ll define the NPP as: Buying and using a high quality item can often be the most rewarding and cost effective way to utilize an object (or experience) over time. By purchasing the object or experience with rearguards to its total value instead of simply its price or quality, one can often come out ahead in the long run. And I’ll add the idea that sometimes paying a little more up front can actually be a cost savings proposition. Continue reading The Nice Pencil Principle