Today is a piece of wisdom from the Kessler family known as the Refrigerator Theory: if you’re going to have something for a while, it’s worth upgrading it.

Why’s it known as the refrigerator theory? A fridge is typically something people keep for quite some time. As a result, my family decided to get a nicer fridge since one typically doesn’t replace their fridge on a regular basis. Years later, we still have the same fridge, and keeping it longer only reduces the daily amortized cost of having the upgrades.

In other words, by getting a nicer one, you’re more likely to keep it longer, and thus, you might ultimately end up saving money in the long run… as was the case with our family’s fridge.