Bangalore: The economic downturn has made us cautious about whipping out our wallets on a whim. Most of the purchases we make regularly are meant to satisfy basic needs. But at least some of the purchases we make each month are meant to be experienced because money spent in a right way can buy happiness. But there are certain things in life that are simply worth shelling out money for, no matter how tight your budget is. And talking about frugally-minded people, they know when to spend money just as well as they know when not to.  They spend money when it is wise and in their best interest.

Here’s a list of things worth spending your money on:

Insurance

Every knows the importance of having an insurance policy. As it removes uncertainty of financial losses when an unexpected event or loss occurs. It's always better to be safe than regret, and insurance policies can sure make you feel well protected. But not all insurance are worth spending money on. There are certain insurance policies you can’t do without like life insurance, home insurance, car insurance, jewelry insurance, health insurance.