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Personally, I try not to cheap out on anything I want to last. You don't have to buy the most expensive, but don't buy the cheapest either. Something in the middle usually does good.
I've done well buying second hand too. I recently found a bread machine for 3$ at goodwill. Works perfectly. But I also figured if I decided not to use it anymore or it was crap, then I lost 3$
I've heard this line of thinking is how they get you. Example I heard was something like there's a $10, $20, and $40 toaster at Walmart. The $10 and $20 one are functionally the same, but you don't know that and don't want to go with the cheapest one so you pick that.
Don't know how true it is, but thought it's interesting and started thinking about it when I'm buying stuff
Yeah I've heard that too. I've seen it a few times as well.