Once a lifetime purchase

Durable things that save money are often classified as “once a lifetime” purchases. Purchasing a product that lasts for more than 40 years is a great way to save money. The longer a product is used, the lower its cost gets:

lifetime purchase and durable goods and buying for life
Lifetime purchase costs. Copyright: Money Bear Club.

Just in 4 years, the everyday cost of a $100 purchase decreases from $0.23 to $0.07. In 30 years, the $100 purchase would cost just $0.009 every day. The everyday cost drops to less than one cent. A product for a lifetime, with its costs dropping every year, is a great deal.

To buy only once means to never have to worry about replacing a product. Or, to worry about where to buy it for a second time. Buying things that do not require repeat purchases is a great way to save money and time. The saved time then can be spent on more useful things than shopping.

Durable things can also be great gifts. A gift that lasts for many years, will be fondly remembered for a long time.

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Swiss army knife

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Anyone who has ever had to find a tool like a knife or a knife knows how hard it is. Most people don’t carry tools in their backpacks. Carrying upwards to 10 tools around would just take up too much space in a backpack or a purse. Also, paying for 10 separate tools would create a large expense.

A Swiss army knife offers a solution to all of these problems. Swiss army knifes are lightweight tools. Swiss army knifes also come with 5+ or even 10+ tools that don’t take up much space.

These tools are great for fixing the small problems in life: cutting paper, opening bottles, securing screws, and even cutting food! The price of a Swiss army knife is a better deal than separately buying 5 or 10 high quality tools.

The durability of Swiss army knifes is reflected in their lifetime guarantees. Original Swiss army knifes come with a lifetime guarantee. Although very unlikely, if a Swiss army knife turned out to be defective, the purchase price would get refunded even after 10 years.

Water bottle

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Who want to pay upwards to 1 euro/1 dollar for water? A 500 ml bottle of water usually costs around €0.5. Higher quality water (mineral water), can cost upwards to €1. Over time, small purchases like these can add up to large sums. Even one bottle bought per week, in a year, will add up to €26.

If there’s an easy way of avoiding these costs, why shouldn’t it be used? A reusable water bottle is the perfect solution for this problem.

Using tap water instead of bottled water is significantly cheaper. Filling a reusable water bottle with tap water costs only a  few cents every day. Buying a bottle of water costs tens of cents. For premium quality waters, the price can reach €1/$1. The difference between the costs of store-bought water, and using reusable water bottles, can be upwards to 100 times!

Carrying around a bottle with yourself also encourages proper hydration habits. The reusable water bottle, in this case, acts as a visual reminder to hydrate. Proper hydration is very important, and is one of the parts of a healthy lifestyle. Thus, having a water bottle close at every time of the day, can contribute to healthy habits.

Reusable water bottles are also great for the environment. The owners of reusable water bottles don’t need to buy water in plastic bottles. Plastic water bottles are one of the main polluters of the world’s oceans. Using a reusable water bottle is one way of taking care of the pollution problem.

Chief’s knife

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Having a large knife arsenal in the kitchen is not always necessary. A quality chief’s knife can be used as a vegetable, meat, and fish knife. Chief’s knifes are the perfect tool for preparing vegetables and slicing finer cuts of fish. They also can take care of thicker pieces of meat. With regular sharpening, a chief’s knife can definitely last for over 20 years.

Learning to use a chief’s knife may take up some time, but it’s worth it. Using a chief’s knife increases cutting speed. Increased cutting speed decreases the time it takes to prepare a meal.

Having a reliable knife, like a chief’s knife, eliminates the need to own several knifes for different foods. A large knife can also help to make the choice of buying larger meat slices (which are cheaper than smaller ones).

Rain jacket

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It’s possible to buy a rain jacket and use it for 20+ years. Rain jackets don’t go out of fashion. Rain jackets don’t require additional care or accessories. Rain jackets also are great for any weather that includes some type of precipitation.

Rain jackets often come with additional insulation. Thus, rain jackets protect not only from precipitation, but also from cold weather. Windproof rain jackets are a great choice for people living in areas where heavy winds are common.

Moreover, most rain jackets are made of materials that are designed to last for a lifetime. Of course, fashion and changing tastes may play a role in this choice. However, for those whose tastes rarely change, a rain jacket will be a durable thing that saves them money.

Power bank

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A power bank is a must in the digital 21st century. It’s common to find people carrying 3 or 4 digital devices at one time. Devices like mobile phones, cameras, headphones and music players may require charging on the go. And finding an electrical outlet is not always easy.

Power banks function as electrical outlets that can be taken everywhere. They are compact, hold several charges of energy in them, and often can charge several devices at the same time.

A power bank can be lifetime purchase. Their inner parts are protected from the daily wear & tear by a hard shell cover. Power bank, as charger, doesn’t lose its ability to charge as time passes. Moreover, just one power bank has enough power to charge more than one device at the same time.

Many power  banks also come with additional customizations. A power bank can include an add-on flash light, installed into the body of the power bank. Some power banks also come with arm bands, which can help to carry the power bank.

The savings of using a power bank are greater for people who are constantly on the move. A person out in the city, may have to buy a cup of coffee or tea in order to charge their devices in coffee shop. However, people who own power banks, don’t have to incur additional expenses in order to get the permission to charge their devices.

Backpack

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A well-sewn backpack can last for a lifetime. Backpacks are made from materials designed to absorb the impact of daily wear & tear. Many backpack companies also offer lifetime guarantees for their bags. Hence, they can be used without having to find a replacement for 30+ years.

A large backpack is the ultimate choice for frequent travellers. A backpack can replace a suitcase. For flights on cheap airlines, using a backpack instead of taking a suitcase, could mean significant savings. Not having to pay for the registration of a suitcase or have to wait for it after a flight, will save both money and time.

People working in jobs, which require to carry equipment, can benefit from using backpacks. Photographers rarely can be seen without a backpack. Workers in jobs which require the use of a laptop, will keep a healthier back by using a backpack to carry a laptop.

Using a backpack instead of a purse, and a backpack instead of a briefcase, is a good choice for people looking to take care of their backs. Carrying all of the weight in one hand or only in one shoulder creates an imbalance. The distribution of the weight gets disturbed. This imbalance in weight distribution can cause shoulder and neck pains. Using a backpack will help to avoid these pains.

The main savings of using a backpack are based around future healthcare costs. The more frequently a backpack is used, the less likely are healthcare costs related to the back, shoulders, and neck area.

Crock pot

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A crock pot is the ultimate money-saving appliance.

Firstly, crock pots are great for cooking leftovers. Leftover meat and vegetables just need some water and spices to create a stew in a crock pot. Hence, leftover food can be used for a second time. This saves money and minimizes food waste, one of the biggest problems in the world.

Crock pots are great for making food out of low-cost staples. Grains, vegetables, and low costs meat cuts can be made into tasty cuisine by using a crock pot. Healthy soups and main meals at low prices are the ultimate money savers (with added health benefits).

A slow cooker like a crock pot is also a good choice for saving time. Tomorrow’s breakfast can be left to cook overnight. A fresh and a warm meal can be left to cook from morning until the time family members arrive home. The possibilities for saving time with a crock pot are endless. However, they all guarantee the experience coming home to a warm meal. Of course, without having to spend hours cooking it.

Hiking boots

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These shoes are built for weather and terrains that other shoes can’t withstand. Hiking boots are great for hard terrains, wet roads, and trekking in bad weather.

Hiking boots also can be used as a money-saving measure. Shoes not designed for walking long distances, can get worn down easily by using them on rough terrains. Using hiking boots instead, will save money. Money that would have been spent on replacing shoes used not for their purpose.

Hiking shoes also offer protection for walking on rough terrains. Quality foot protection also helps to avoid common foot problems and injuries. Injuries, which can create additional healthcare and treatment costs.

Owning hiking boots can act as an incentive to exercise. Just seeing hiking boots sitting unused (and not being used for their money’s worth), will motivate to get out of the house and go hiking.

Hiking boots, if they are properly cared for, can last for 10+ years. Hiking boots are designed to withstand the harsh wear & tear of hiking through hard terrains. Thus, it’s not likely that hiking boots will get worn down easily.

Travel blanket

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Having a comfortable blanket for vacations and trips is a must. A quality blanket in a cold air plane offers a great level of comfort and warmth. A small blanket can make any trip much more comfortable and cozy.

Proper washing and handling can make a blanket last for many years. With proper care, a blanket can last for a lifetime.

Having a blanket is also a great way of saving money. Because of the warmth a blanket offers, its owners have a lower risk of catching a cold in chilly places. And any illness comes with additional  healthcare costs.

Insoles

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Foot insoles are a great investment for people who spend a lot of time on their feet. They protect against common foot conditions like plantar fasciitis and calluses. Foot insoles also minimize the physical impact feet receive from walking. Foot insoles are a great choice for those who have to constantly walk over hard surfaces.

Foot insoles can be a great choice for shoes which focus on fashion rather than comfort. Some shoes simply do not have enough support and cushioning. Walking in shoes without cushioning could result in many health conditions related to foot injuries. Foot insoles are a solution for wearing shoes without cushioning. They help to avoid common foot injuries. Most foot insoles are thick enough to act as a second, if not the first layer of cushioning.

Although foot insoles do get worn down over time, they can easily last upwards to 5 to 10 years.

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