Five Purchases Pricier Than They Appear

One of the most important factors to consider when making a purchase is the lifetime cost of a product.

Most people focus primarily on the purchase price of the item and forget that there are usually other expenses attached down the road. Understanding the total amount of money you will need to pay over the product's lifetime can mean the difference between having a budget that works and constantly wondering where your money went.

The lifetime cost is the amount you must spend beyond the actual retail price, like batteries for a toy or food for a pet. It affects everything from the biggest purchases you make to smaller, everyday items and can add up to thousands of dollars a year. ...