[buescher]

I really hate that quote. For one, it is frequently hard to tell when you are actually getting quality by spending more. Sometimes you might just be paying for the label. For another, nice things often require expensive maintenance. Boots you will keep must be resoled periodically. Or you might not need or want to wear the same boots for years and years.

It's not at all uncommon for the cheap thing to be much cheaper in total cost of ownership (TCO) than the "quality" item. Take a look at Edmunds TCO numbers for cars, for example. And back to Harbor Freight: I've heard of shops switching to Harbor Freight air tools because they're 1/10 the cost of the good stuff and last, I forget, something like 1/4 as long.

[grrrrrbox]

Price is a necessary but not sufficient requirement for quality, but that's no reason to throw out the idea. Harbor Freight is also not a bottom-barrel brand these days.

Cars are actually a great example. $30k will set you up with a Camry hybrid for >20 years. If you can only afford to finance a $15k econobox, you'll end up paying extra on interest, maintenance, and fuel while your car spends more time in the shop.

IMO this theory gets unfairly maligned by a strawman of "price == quality".

[buescher]

Cars are a great example when you compare just about any used car to being able to finance a new $15K econobox - the econobox will win on TCO. (And at low interest rates, you are better off holding on to your cash and financing). But not when comparing new cars. A $16K Chevrolet Spark LS has a five-year TCO of $26460. Your Camry Hybrid LE (at least twice as much as a Spark in cash outlay) has a five-year TCO of $31903. The Corolla L, which is a sort of benchmark of frugality, has a five-year TCO of $28814.