I’m a Certified Financial Planner: I Always Splurge on These 4 Things — To Save Money

In the 21st century, do-it-yourself projects and ideas are normal options for handy people or those who feel crafty and quite capable of following instructions. In addition, social media tutorials can take you step-by-step with visual aids to guide you along the way. When a project is completed, there is indeed a great sense of satisfaction for the work you did and the money you saved .

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However, alluring as the idea may appear, there are several products and services you should splurge on financially to avoid paying a hefty price through maintenance and management. Here are four things you should make the necessary investment in , knowing that it will save you money over time.

Money mistakes the super wealthy never make - that you might be doing now.

Paying a Real Estate Agent

Paying for the services of a real estate agent when purchasing a home is a necessity.

When making such a large investment, one looks to minimize the costs as much as possible, and today, there are companies that offer to cut out the middleman. However, when purchasing a home, if a family has unique circumstances, using an agent can help you navigate more seamlessly.

For example, if there are children involved, purchasing a home in a neighborhood with a quality education system can serve to be more economically beneficial, considering the costs of having to place a child in a private school. Or if a family has a child with special needs, learning what educational opportunities and/or supportive services are available in the community are critical. Both variables can be financially draining as added expenses.

Purchasing a home in the right neighborhood may cost more initially, but it will save you money over time.

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Hiring Financial Planners

Financial planning professionals are critical components for a sound financial plan and savings over the long term. Many individuals feel comfortable enough to accumulate wealth independently, and some have garnered success. However, wealth accumulation without protection can cause great financial distress with one catastrophic incident.

A financial planner focuses on offering a holistic approach to wealth accumulation while minimizing the risk of loss, because they understand potential financial vulnerabilities.

One perfect example is when an individual is looking to purchase a new vehicle. A financial planner will advise the purchaser to acquire gap insurance. One untimely accident can cause a financial hardship without that protection. This omission will leave you with a financial obligation that must be paid, and you might even need a new car.

Financial planners will work with you to protect your income and assets and help protect you from things that will devastate you financially. Experts will help you accumulate, protect and eventually transfer your wealth most effectively, and their fees most often yield greater benefits than those seen by people who attempt to gain financial freedom independently.

Getting a Warranty on Purchases

Secure a warranty whenever it is offered.  A warranty is offered by a manufacturer when you purchase an item. They promise to repair or replace the item within a specified period.

When making an investment into high-priced items, securing the warranty allows for a longer use of the product if something malfunctions. It makes sense when you are purchasing home items, electronics and even vehicles.

Buying in Bulk

Purchase items you use frequently in bulk.  If you use something or engage in an activity with great regularity, it will save you money to purchase an item in bulk or subscribe to the service.

For example, if you use public transportation, getting a discount ticket monthly or weekly can save you a few dollars. If you enjoy snacks daily, buying the item in bulk and carrying it with you will help you avoid running to the store and spending a few dollars each day. If you are a movie buff, becoming a club member allows you to benefit from discounted tickets, and it will also help you save money on the refreshments while you are there.

You must exercise caution not to sign up for services that you utilize only sporadically. Many people sign up for streaming services or fitness plans and don’t use them enough to warrant the monthly payment.

The greatest benefit comes from purchasing quality items and services that will withstand the test of time.  Even if you pay a higher cost initially, the benefit of its use will create greater savings over the long term. Remember the old adage: You get what you pay for.

Editor’s note: Dr. Nicole B. Simpson is a dedicated certified financial planner and the CEO and founder of Harvest Wealth Financial.

This article originally appeared on GOBankingRates.com : I’m a Certified Financial Planner: I Always Splurge on These 4 Things — To Save Money