Frugal Tip: Consider Cost of Ownership
Many things, once you own them, they effectively stop costing you money (until they wear out and need replacing). Like my dining room chairs. I only have to consider the initial cost (and quality leading to a replacement cost) and once I have figured out the most bang for my buck so to speak and made a purchase, I am done.
Not so with other things. Take my car for example. I drive a completely paid off (as of late last year) 2001 Saturn. I use the term drive loosely, because in 2008 it seemed to spend as much time in the shop as it did being driven. I just now calculated that over the course of 2008, I spent close to $600 a month (average) to keep that car running. NOT including gas or insurance or registration – just repairs and associated to repairs costs.
If that pace keeps up for 2009, I may not own that car much longer.
Consider the cost of ownership when you are making a purchase that requires upkeep. If there is a variation of possibilities – do your research. What does the average person have to pay to keep up said purchase? How does that compare to similar options? Make sure you are still getting the most bang for your buck past that initial investment. (Seriously, just look at the consumer reviews for a 2001 Saturn L-300 on Edmunds.com and then kick me for being such an idiot).
Jim also looks at cost of ownership as far as giving gifts with his plea not to give high upkeep gifts. It is a great look at hom something innocuous might seem like a great gift (oh look at the cute puppy) but cost your recipient much more than they bargained for.
So I guess I shouldn’t gift my Saturn to an unsuspecting “friend”…. 
This frugal tip provided by paidtwice, who wants you to start 2009 right – no Saturn L-series for you!