They say, “Save your white coin for your black day.” But today, let’s talk about the “gray quarter.”
The “gray quarter” is a term coined by NomaDock to express money spent in the right place, even though the cost seems significant.
The purpose of the “gray quarter” is to tackle situations where saving leads you to lose your money, and we’ll outline them for you below.
1. Buying Low-Quality Goods
Here, we specifically mean goods that are expensive, such as furniture and electronics. If you buy a low-quality item, usually the cheaper one, without opting for better quality even if it’s more expensive, it’s very likely that the price difference and more will cost you either in maintenance or buying a new one.
This means more visits to the market, the possibility of buying other goods each time, wasting more time, paying additional transportation costs, costs for maintenance of worn-out parts, and other unforeseen costs. For example, if the refrigerator breaks down, it may lead to food spoilage.
2. Refusing to Apply for or Use a Credit Card
Some fear credit cards to avoid debts that may arise, but this is part of the story and is usually the result of misusing the credit card or delaying its installments. On the other side of the story, the credit card comes with a package of benefits that provide peace of mind and discounts. For instance, you can get travel miles, benefit from insurance services, and collect reward points that can be redeemed in various ways.
In case of theft, you can report it immediately without bearing responsibility for financial transactions you didn’t make, without impacting your personal funds. This is unlike a regular debit card that directly deducts the value of stolen money from your account.
3. Cutting Costs on Health
Saving on your health is a “false saving” because health is one of the most valuable things you can possess. Take a lesson from insurance companies that increase your health bill as you age due to the importance of regular check-ups and doctor visits. If you miss these, your body may be deprived of essential needs that you won’t realize with the naked eye. Also, if you try to treat your health naturally at home, you may sometimes delay quick treatment, and your condition may worsen, God forbid, requiring higher recovery costs.
This is in addition to the psychological pressure of all this. Make your health a priority and don’t skimp on choosing the best for it, whether in terms of food or situations that ensure your peace of mind, whatever it costs.
4. Avoiding Expert Services
Why do professional actors charge a high fee? Alongside their fame that attracts millions to the box office, they are experts in their field and can perform their role excellently in one or two takes during filming. As for the ordinary actor who charges less, they may need to reshoot the scene 5 or 6 times, raising the cost of shooting, including location and equipment rental, special scene costs, backstage workers’ wages, and more.
So, the saying “Give the baker his bread even if he eats half of it” has been common for a long time, emphasizing the importance of choosing experts to benefit from their services and work in maintenance to ensure quality without the need for higher repair costs later.
5. Falling into the Discounts and Coupons Trap
Discounts, sales, and offers all directly impact our purchasing decisions. “Let’s go to the market or browse this website. Maybe we’ll find something we’ve been delaying buying due to its price.” It’s the scenario that runs through our minds, but reality rarely aligns with it. With attractive prices, we might buy things just because we might need them later. And if we do genuinely need them, we might buy more than we need with the “Buy 2, Get 1 Free” offer.
Thus, the purchase bill rises, and the space needed to store purchases increases. This is if our choices are correct because, in the season of offers, pressure and the temporary nature of this season play an inverse role in our decisions.
NomaDock Tip: In all these situations, resort to using the gray quarter.
