Price vs. Value
“It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money — that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot — it can’t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
This is a quote from John Ruskin apparently, who was an English author, poet and artist, most famous for his work as art critic and social critic.
When I read this, the first thing I think of is insurance naturally, as it relates to price vs. coverage. However, this is basically the law of the land. From buying your clothes at the department store, to hiring a general contractor, or deciding on the right accountant, are you just looking for the best price, or do you want to save the headaches and find the best overall value for YOU?