Monkey Mag – International Lifestyle and Travel Blog

Pay a Little Now or Pay More Later?

When it comes to saving money, it makes sense that one of the easiest ways to save the most money is by spending as little money as possible. While this can certainly work to your advantage in certain situations, in others, spending little to no money upfront can actually cost you more money in the long run. In other words, truly saving money involves understanding the difference between these situations so you can know when to save your money and when to spend it to save money later on. Here are a few situations where it pays to pay a little now:


If you’re like most people, insurance probably seems like more of an inconvenience than a necessity. Understanding why insurance matters, however, is important to prevent you from potential major financial damage. While it’s true that insurance can be expensive, the risks that insurance protects you against are far more expensive. Whether it’s medical costs and car repairs in the case of auto insurance, or sustaining lives and allowing your family to get back on their feet in the case of life insurance, the consequences of not having insurance are dire, indeed.

Unless you’re independently wealthy and can afford to cover the cost of any risk you might face, insurance of different types is extremely important. Fortunately, you can still save some money when purchasing insurance by shopping around. Finding cheap renters insurance and other insurance policies is easier than you think, especially if you get multiple policies with one insurance company.

Vehicle Maintenance

Regular vehicle maintenance is crucial to the ongoing proper operation of your automobile. Why, then, is it something that is so often avoided? One reason may be because of its cost. It can be hard for you to justify spending hundreds of dollars for oil changes, new tires, new wiper blades, new air filters, and all the other replaceable items on your vehicle.

However, though these items can be expensive, ignoring them will almost inevitably leave you with a much higher repair bill in the future. The regular maintenance items help take care of the more expensive parts that can be a major inconvenience and expense if they fail. If you’re still needing to save some money, it’s important to note that, with the right tools, most or all of these regular maintenance items can be completed on your own.


These days, it seems like you can’t buy an item of any value without being asked to buy an extended warranty. While you probably don’t need a $3.00 warranty on a $9.00 item, extended warranties on more expensive items can certainly be worth it. Extended warranty protection for vehicles can be especially useful, however, they’re easy to overlook or refuse given that they’re typically offered after you’ve already spent tens of thousands of dollars on a new vehicle.

Sometimes, however, even with good maintenance, major components of your vehicle can fail. Without an extended warranty, you’re on the hook for the full cost of the repairs, which can easily run into the thousands of dollars. So, though it may seem counterintuitive to trust the finance manager when he’s trying to sell you a warranty, they can really work out in your favor should something go wrong. You can view your extended warranty as insurance against having to purchase a new vehicle since some repairs can be so expensive that they warrant actually replacing your current vehicle.

Money Wise

As mentioned earlier, saving money is ultimately just a delicate balance of deciding which items to spend your money on, including those which will hopefully save you money down the road. Since saving money is a long-term process, these long-term impacts must be carefully calculated to determine which options are right for you. While there’s certainly no “one size fits all” approach when it comes to costs like these, protecting against life’s unexpected events is certainly a good way to stay on the right track toward saving.