I look at the value proposition of the products and services. Cheap things can be good value for what they deliver at their price point.
Usually, I will look for high qualities and performance in:
diving gear (my life depends on it)
fountain pen (improve hand writing and lessen the burden on my writing hand)
medical proudcts and services
Eye glasses
Suits & shoes (cheap ones ususally do not last long and low qualities become very apparent)
As far as food is conerned, I only look for the nutritional value and cost. I never eat the fast food, fatty food, and too salty food. But, I am not interested in paying a high price for food as a high cost does not mean high qualitiy at that price point.
I consider cars (which are driven daily or regulary and are not stored as a collector car) as a disposal product. As such, I don't want to spend too much money on it as it is subject to any abuse by total strangers and natural elements at any time (rock chips, door dings, rains, road salt, bird droppings and etc). So, I changed my course and am now on the total cheap-out on the cars (there are reasonably fun to drive economy cars in the market).
