The most effective financial advice I ever got was from Terry Pratchett, in Men At Arms:
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes ‘Boots’ theory of socioeconomic unfairness.”
Spending the extra money for quality (not fashion or status, but real quality) is an investment, that keeps you from extra recurrence costs as well as the hidden costs of inadequate substitutes.
Any entrepreneur understand EBITDA ( Earning Before Interest, Tax, Amortization, Depreciation). Quality may contribute to depreciation less than the depreciation of fashion, or social trend itself. So, fashion trend is strategy to keep the pace of depreciation inside consumer’s mindset, and maintain the currency flow.