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Spaghetti sauce. I buy Rao's marinara sauce for around $8 per jar (each jar has 1.5 lbs of sauce), but it really is the best I've had. Considering that the spaghetti costs less than a dollar, though, it's worth the splurge, especially when you're cooking for a family.
I will buy cheaper tomato sauces from time to time (usually between $1 and $2 per bottle), but there's an obvious difference. It's like the difference between fresh basil and those dried, often next-to-flavorless flakes.
Other than that, I've found that my Eddie Bauer backpack lasted me throughout high school, college, and travel, so that was really worth the money. (Too bad I can't find it!)
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