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Price is What Your Pay Value is What You Get

Us personal finance blogger types tend to loathe consumerism. Quite rightly so given the way that so many people succumb to the urge to buy more crap in exchange for a short term endorphin release. In these days of internet shopping it has become easier and easier to amass vast quantities of possessions that deliver you little or no long term value.

I prefer quality over quantity. Rather than getting excited by a constant stream of Amazon boxes arriving at my desk (like several of my colleagues do) I like to revel in the one time purchases that provide a long term solution to real problems/needs rather than temporary wants.

Recently when renewing my house insurance I got thinking hard about how much value some of the objects in our house actually give us. Below is a list1 of some of the things we’ve acquired over the years that have (and continue) to give us value well beyond their purchase prices.

The Slow Cooker

Over the last couple of years our £25 slow cooker is getting more and more use. We’re a veggie household so unfortunately I can’t rave about awesome beef stews or slow cooked pork. What I can tell  you about is that you can cook with little to no oil in them, making incredibly tasty,  healthy food with very little effort.

Slow cookers are perfect for cooking authentic and healthy Indian dal dishes, soups and stews. They aren’t just for cold winter days however. The following recipes is perfect for using up summer vegetables.

Slow Cooker Summer Vegetable Stew Recipe

  • 1 cup of cut runner beans
  • 1 cup of pasta (broken up if large)
  • 2 courgettes
  • 1 onion
  • 1 red chilli
  • 4 carrots
  • 3 potatoes
  • 2 bay leaves
  • fresh thyme
  • 1 teaspoon of bouillon
  • salt & pepper

Method: Simply peel and chop the ingredients and place in the slow cooker along with a couple of  pints of water. Cook on low for 8-15  hours or until the vegetables are tender. Serve with some crusty bread or croutons.

While I’m still holding down a full time job I’m incredibly time poor. Slow cooking is a great way to make great healthy food with very little effort. As with most things you need to take time to learn how to use it properly and experiment with different recipes in order to find the ones that work for you.

DE Safety Razor

I am pretty lucky in that I’m not too much of a hairy beast. That said the day job requires me to remain reasonably well groomed so regular shaving is a must.

A few years ago I was grumbling about wet shaves to a friend and debating buying an electric razor when he suggested I buy what he termed a ‘granddad razor’ (i.e. a DE Safety Razor). They offer a closer shave than electrics, help reduce skin irritation and are very very cheap in the long term.

The one I was recommended was an Edwin Jagger DE89L.

DE Safety Razor

Rather than using the latest multi-bladed cartridges it uses simple old fashioned double edges razor blades that are much cheaper than the latest offerings from Gillette or Wilkinson Sword.

Is it dangerous? Well they’re not called ‘safety razors’ for nothing. Compared to a cut throat razor of course they are much safer however it easier to cut yourself than with a cartridge razor. The key is to not pull it across your face but instead let the weight of the head do the work. Shave with the grain, take your time and shaving will soon become something to look forward to rather than dread.

As I write this, an 8 pack of Mach 3 razor blades from a well known (but short on luck) supermarket costs £14. By contrast I just ordered a new supply of 100 Derby blades for £6.92 and fully expect them to last well over a year. The hairier you are the more money you’ll save!

3 x Metal Bowls

As part of our efforts to maintain a healthy diet we try to cook fresh food as much as possible. These metal bowls are used to help prepare, mix and store food. With the addition of a saucepan lid one is also used to store and transport kitchen waste to the compost bin.

Metal Bowl

I believe they cost a grand total of £1 for 3 (possibly mis-priced) from a pound shop about 4 years ago. They’re almost always in constant use in the kitchen which must surely make them the best pound we’ve ever spent. The fact they’re made of stainless steel means that so long as they are looked after, there’s no reason why they won’t outlast me.

Sodbuster

The knife I carry with me daily is a Shrader Imperial Sodbuster costing £8. Nothing fancy, nothing expensive, UK street legal, solid construction and incredibly useful. It’s stainless blade isn’t razor sharp but it holds an edge pretty well so it’s perfect for everyday use and abuse.

Imperial Shrader Knife

Knives are one of those things that you only realise how much you use them when you stop carrying them. Yesterday saw me use it to fix a power drill, cut/harvest some rhubarb, trim a passport photo down to size and use it as a makeshift paper weight.

To top it all off it’s true value may only come to light during the FI zombie apocalypse 🙂

Timbuk2 Messenger Bag

This bag is best described as a bullet proof tardis. I’ve owned it for around 7 years ago and it’s been used almost daily for most of that period for a huge variety of uses. At around £60 it has certainly been money very well spent.

Timbuk2 Messenger

Currently it’s primary job is carrying my work clothes (and associated paraphernalia) during my daily cycle commute. However over the years it has also been used as a camera bag (discrete, sturdy and large capacity), gym bag, weekend bag, holiday hand luggage, shopping bag and photography backdrop2 amongst many other things.

It has a seemingly magical knack of swallowing vast amounts of stuff with ease. A typical school day will see it loaded with a tablet, phone, blackberry, notebook, camera, work clothes, various cycling paraphernalia (pump, lights, repair kit etc), rain jacket, breakfast oats and packed lunch amongst other things.

As well as being incredibly functional, the build quality is truly remarkable. Despite being used and abused daily for several years the thing still looks virtually brand new. In fact someone commented on it a few weeks ago and asked me if it was new. It’s fully waterproof, light yet incredibly durable. I fully expect this bag to be still giving me loyal service in another 10 years time and beyond.

My Commuter Bicycle

I didn’t actually buy the bike I use to commute but was given the frame by an old family friend who used to race on it in the 70’s. Instead I’m talking about the money and time I spent getting it back on the road and converting it to a fixed gear.

Bicycle Commuting

I’ve talked before about the psychological benefits I get from cycling. As well the meditative benefits there is of course the financial advantages to commuting by bike. It would cost me in excess of £1,000 to buy an annual parking permit at the railway station I commute from – that’s before you factor in the petrol and other associated costs as well as the income tax.

Instead I cycle everyday, which costs me nothing. The lack of gears on the bike means maintenance is barely required. A few drops of lube on the chain every other week and air in the tyres and I’m good to go.

I rarely go the shortest route because it’s so damned enjoyable. I’m lucky in that the route is through quiet countryside so I’ll quite often encounter beautiful wild life such as badgers, deer and owls among others.  In addition I’m averaging around 100-125km per week meaning that there is a significant fitness benefit too.

Price is What Your Pay, Value is What You Get

I believe it was good old Wozza that said that. He might have been talking about stocks and value investing in general but the statement is equally relevant to anything you take ownership of in exchange for some of your hard earned cash.

The thing that pleases me most about the list above is that none of them are particularly high value items. If UTMT towers was burgled I wouldn’t be surprised if all of the above items were left behind by any self respecting thief who is probably more interested in the likes of laptops and iPhones.

Of course the list could have been longer. I nearly added our wood burner, kitchen knife, compost bin, laptop, walking boots, tool set etc etc to the list. However that being said as I walked round the house there was a remarkably small percentage of things that I wanted to add.

More and more I try and think about this list when I feel the internet shopping urge kick in. Doing so helps me stave off buying stuff that will offer little long term value once the endorphins have faded away.

So whats on your list? What possessions do you have that give you huge amounts of value?

Notes:
1Disclaimer: contains some affiliate links
2The bag provides the nice textured backdrop to the above photo of my DE razor 😉

{ 19 comments… add one }
  • Dividend Drive May 27, 2015, 4:19 pm

    Nice post, UTMT.

    The razor is an interesting one. I must admit to being a lightly bearded gent whose chief shaving activity is using clippers to tidy it up and avoid looking like a sailor. However, I do shave my neck quite often but find the Mach razors pretty awful for that and really irritating. I have been itching (pun very much intended) to try old single blade safety razors for some time. You have steeled me (pun not quite so intended) to give it a go.

    I will report back once it has been tried!

    • Under The Money Tree May 28, 2015, 8:52 am

      DD,
      Good luck with the shaving…I’m sure you’ll never look back once you’ve tried DE shaving.

  • Mr Zombie May 27, 2015, 7:44 pm

    I can’t believe you walk around tooled up with a knife! 🙂

    Slow cookers are indeed amazing – will give your recipe a try. May have to chuck a few sausages in there as well 😉

    The only things I really worry about spending any money on are my glasses, cycling gear and motorbike gear. And they tend to last for years.

    Is that your bike in the photo? That’s a mighty fine clean chain.

    Mr Z

    • Under The Money Tree May 28, 2015, 12:05 am

      Mr Z,
      Yes, thats my steed. I believe i took the photo shorty after fitting the new chain about 3 years ago. It certainly doesn’t look like that these days.

      Until I started riding fixed regularly I used to spend quite a bit on expensive cycling gear and clothing. These days i’ll tend to only buy premium bib shorts (for longevity as much as comfort), the rest of my kit is pretty rubbish. However looking at the stats I’m riding quicker and stronger than I ever have been!

      • Mr Zombie May 28, 2015, 8:11 am

        A fixie is tempting for the commute as my road bike is taking a battering, broke a wheel spoke this month. It is mighty hilly round here though.

        TBH I’ve not bought any gear for a couple of years as I ride it to death, so it seems worth the money so far. 🙂

  • ermine May 27, 2015, 10:49 pm

    > ’m lucky in that the route is through quiet countryside so I’ll quite often encounter beautiful wild life such as badgers, deer and owls among others.

    Suffolk is the dog’s ‘nads at times, eh 🙂 Though you can have too many deer IMO…

    • Under The Money Tree May 28, 2015, 8:30 am

      Ermine,

      While Mrs UTMT is a veggie and we’re a meat free household I am partial to some venison when we do stray out for food ;-). We’re actually just over the border in North Essex (by a couple of miles) but as you say it is stunning – yesterday I’d cycled about 10 miles before I saw my first car.

  • Equitableyolo May 28, 2015, 8:41 pm

    Interesting post, haven’t tried a slow cooker but I highly recommend an electric steamer. Veg and fish taste amazing when cooked by steam!

    I usually use a ‘buy it once buy it right’ motto when it comes to purchases.

    If I had to recommend three purchases it would be the following:

    Bahco adjustable spanner- superb tool excellent quality

    Brabantia Washing Line- as above I find my neighbours buy a new one every other year mine is still going strong after several years

    Autoglym car Shampoo- other shampoos can be false economy, this does a superb job and when used properly you only need a tea spoon per bucket

    • Under The Money Tree May 29, 2015, 12:12 am

      Equitableyolo,

      I’m also a big fan of steaming vegetables but I make do with using a saucepan/colander/lid combo for steaming. If I was allowed to eat fish in the house I might consider an electric one like yours 😉

      As for the wrench I believe it’s always good to buy quality tools as they tend to pay in the long run. What’s more there are always plenty of secondhand ones on ebay or at car boot sales meaning you can usually pick up great quality secondhand gear for the same price of new crap 🙂

  • weenie May 28, 2015, 8:56 pm

    Those razors are sharp – my dad used to use one and I remember my older sister at age 14 nearly cutting her legs into ribbons trying to shave with it….

    • Under The Money Tree May 29, 2015, 12:07 am

      weenie,
      Ouch! I definitely wouldn’t recommend DE shaving to a 14 year old! After a few nicks early on I bought a styptic pencil to stop the bleeding. Ironically I’ve only used it about twice as I rarely knick myself anymore 😉

  • Minikins May 29, 2015, 12:18 pm

    Thanks for sharing these great tips. I wish I could find those bowls, I do like them. I might get my slow cooker out again, it’s been a while and it is very handy to set up in the morning and come back to a lovely dinner! I definitely like the knife, it looks fabulous and would be really handy for all sorts. The razor might also be an idea, like Weenie my dad had one too. Just wondering if my 14 year old son might get on with one as a starter razor. Funny how this post is anti consumerism but brought out the consumer in me!

    • Under The Money Tree May 31, 2015, 10:45 am

      Minikins,
      The bowls can be found in most supermarkets or pound shops. Not sure a DE razor would be good for a 14 year old or not – I guess it depends on his maturity.

      The point I was trying to get across is I now try and focus on the value future purchases will offer us rather than just letting the ‘wants’ take over!

  • Passively Simple May 31, 2015, 4:13 pm

    +1 for the razor. I’ve had the same Edwin Jagger for nearly 18 months now, using Derby Extra blades, and it makes shaving so enjoyable. I’ve used Gillette, Wilkinson Sword and a Braun Series 7 in the past but nothing comes close to the safety razor, so quick and effortless. Even when you don’t factor in the blade cost everything else still tops other razors.

    • Under The Money Tree May 31, 2015, 4:20 pm

      Passively Simple,
      I fully agree, shaving used to be a real chore before I got my DE razor. Even without the significant cost savings it is well worth it!

  • EarlyRetirementGuy July 4, 2015, 11:05 am

    Have been pondering a slow cooker for awhile now, do they use up alot of electricity when left running for hours?
    Personally I use an electric razor and then finish off with a disposable one. The electric one only cost £30 and has lasted years, and because I’m only using the manual razor for finishing off I can make a normal plastic disposable one last a good 6+ months.
    Good looking knife.. however I’d not risk carrying one round!

    • Under The Money Tree July 7, 2015, 10:54 am

      EarlyRetirement Guy,
      I think my slow cooker uses just 300 watts when on full power, probably much less on the low/medium setting I usually use. A typical electric oven will use over 2 kilowatts when running so 1 hour in the oven is the same as >6.7 hours in the slow cooker. In short they are pretty efficient at cooking and not expensive to run.

  • mike April 5, 2017, 1:09 pm

    Hi UTMT,

    Curious on the size of the timbuk2 messenger? I’m currently trying to decide between a small and a medium.

    Thanks

    • Under The Money Tree August 6, 2018, 4:08 pm

      Mike,
      Mine is a medium. If thoroughly recommend it.

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