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Skimp or splurge?

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I figure I'm not the only one broke these days. However, where I can, I buy things gently used or buy high quality new merchandise. I try not to waste money on cheap crap. I'm not a millionaire; I'm not even a hundred-aire. but as this MSN article suggests, there are a few items you can selectively save on:

  • Mattress: SPLURGE. You sit, sleep and God knows what else on this item. Get a good one.
  • Wristwatch: SKIMP. The phone now doubles as a timepiece.
  • Kitchen knife: SPLURGE. One good kitchen knife is a time-saver and is safer.

Maybe you should think of it as "splurging." It's not irresponsible or decadent to buy a quality item that you can use for decades at a reasonable price. (Of course, just because a product is expensive doesn't mean it is high quality...) And remember, if an item is high quality, sometimes you can buy it used!

So my question is: In what things do you "invest" for the long term?

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