But perhaps there are some items where paying for quality really does pay off. Where, with careful choice and wise investment, they may even last you a lifetime.

Here we look at four useful things that you could expect to buy today and use for the rest of your life.

A good chef's knife

Why spend money on a good knife? Well, a good quality knife is an investment piece. Your chef's knife is the single most used tool for every meal. It is the workhorse in the kitchen.

It is going to do the chopping, the splitting, the peeling of fruit and vegetables, the cutting of meats and the list goes on — so make sure that you are able to hold the knife in your hand before you purchase it.

Don't shy away from spending money on a single chef knife. It will last you decades if you care for it. Avoid knives that have a serrated cutting edge and do not believe any fad-marketing claim on the shopping channel that suggests that the knife will never need sharpening. A good knife will need regularly sharpening.

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