We live in a world of a great many things—some of which cost a lot of money (and others that we feel cost a lot of money, even if they aren’t too expensive). We’re here to break down the time it takes for big purchases to pay for themselves, but remember that not every purchase comes with value. Try as you might, your 12-foot-tall skeleton from Home Depot will probably not pay for itself.
Hybrid Vehicle
Hybrid vehicles can pay themselves off anywhere from 1-11 years after your purchase. This gap comes from the wide range of hybrid vehicle prices—as these cars become more and more widely available, cheaper options find their way to the market. Lower-end models won’t take you long to make back the purchase price, but they may lack some of the luxury features other brands offer.
Coffee Maker
Who doesn’t love the smell of Keurig in the morning? If any Starbucks-lover has looked over their monthly coffee bill, they may have found themselves shocked at how much they spend. If you stop for a $4.00 latte on your way to work every morning, you could make back the purchase price of a $250.00 coffee maker in just over two months.
A coffee maker is a great investment if you’re addicted to your daily Joe.
Solar Panels
While a solar panel system is a sizable investment, it also offers the most consistent money-saving opportunities. You can easily decimate (or, depending on your energy requirements, eliminate) your monthly energy bill. Depending on your location and the size of your home, this can easily save you $200.00 a month.
For most American households, this means you’ll pay off your panels in 7-20 years. Even though it will take some time to see the benefits of your investment, all-but free electricity for 25 years or more is well worth it.
Now that you know the time it takes for big purchases to pay for themselves, feel good about making these investments—they’ll pay off sooner or later!