Sometimes it’s good to pinch pennies, and sometimes it’s not. For example, if you buy a cheap mattress, only to have back problems down the road, your penny pinching was a bad move. So here are the things you should be saving on – and the things on which you should splurge, courtesy of the experts at Money magazine:

  • Don’t waste your money on: Diamonds. A diamond is graded on cut, carat, color, and clarity. While cut and carats are a matter of personal taste – according to the Jewelry Information Center, flaws in the color and clarity can’t be detected by the naked eye. So you can skimp on a diamond and save about 75%.
  • Also, go ahead and save your money when it comes to golf clubs. Every year, golf club manufacturers come out with new drivers, but you should resist the urge to by the latest one. The U.S. Golf Association says we’ve pretty much reached the limits of nature. For example, Golf Test USA, an independent reviewer, tested last year’s Callaway driver and this year’s model, and found no noticeable difference in terms of drive length. So save a few hundred bucks and go for last year’s model.
  • Now for a couple things you should splurge on: Fresh cut flowers. Grocery stores and florists don’t generally sell the same quality flowers – and they don’t handle them the same way - according to the book Flower Confidential. Because flowers are their primary source of revenue, florists are more likely to keep their flowers at the right temperature, change the water frequently, and periodically re-cut the stems. All those things keep the blooms alive longer. So spend the extra money at the florist.
  • One more splurge that’s worth it: Your desk chair. A cheap chair won’t give you the proper support – which can lead to chronic back, neck and shoulder pain. According to The Harvard School of Public Health, the ideal chair will have adjustments for seat height, arm rests and the seat. The seat should be short enough that your rear hits the back and your knees extend over it a few inches in front. The experts recommend a Herman Miller chair – which they call the gold standard.