Price is what you pay for and value is what you get. Usually this is applied for things that you purchase. But I guess it's equally applicable to things that we choose not to purchase.
If we choose not to buy something for $10, then we would have saved that $10. That's the price we had saved. But did we also correspondingly lost $10 worth of value? Rationally, we should choose to deprive ourselves of something if we can lose a value much lesser than the price of the goods or services that it costs. However, just like when we purchase things and we tend only to look at the price, we also NOT purchase something by only looking at the price, and not the value of the goods that we cannot enjoy.
Let me some examples. In my crazy 50k saving days, I used to scrimp and save on ......