Nobody wants to be labeled a cheapskate. But sometimes, it makes good financial sense to purchase a cheaper option if you can.
A high price tag doesn’t necessarily make something better. Often, low-cost items will serve your needs just as well. Or, the higher-quality option might not be worth the extra money.
Other times, there’s little or no difference in quality between the priciest and cheapest versions of products. Here are eight times when it’s smart to be cheap.