Video by siddheshs

Have you heard of the cheap shoe theory? Most people think they are saving money by buying cheaper but they end up spending more. Here is how it works. You need a pair of shoes. There are two options. One costs 500 rupees, one costs 3000. You buy the 500 rupee pair because the math feels

obvious. You just saved 2500 rupees. Six months later, the cheap pair is destroyed. The sole has come off, the stitching is gone, your feet hurt, so you buy another 500 rupee pair. Six months later, same thing. By the end of two years, you have bought four pairs and spent 2000 rupees. The person who bought the 3000 rupee pair is still wearing the same shoes. But here is where the

theory goes beyond footwear. This is exactly how people think about everything. The cheap laptop that breaks in a year, the cheap hire who costs you double in mistakes and rehiring, the cheap vendor who delivers late and damages your client relationship, the cheap office space that kills your team's productivity. Every time you optimize for the lowest price, you're usually just delaying

a bigger expense. Warren Buffett said it best. Price is what you pay, value is what you get. The most expensive thing you will ever buy is something cheap that does not work. Because you do not just pay money for it. You pay time, energy and sometimes opportunities you cannot get back. Buy it right the first time.