The best money I've ever spent was on a small piece of technology that let's me know my baby is safe

• There are times in life to save money and consider budget product options, but there are also times when you should settle for nothing but the best, price notwithstanding.
• When it comes to providing safety for my kids, I'm more than willing to spend whatever necessary to do it right.
• The Owlet Smart Sock was a gift my wife and I gave to ourselves, as well, as the peace of mind it provides lets us sleep better at night.

A few years back, if you had asked me what was the best money I ever spent, I probably would have told you it was on a pair of hiking boots. Back in 2012, I treated myself to a pair of Asolo TPS boots that cost more than $300, a lot of money for me then (and plenty now, of course), but I was getting more serious about mountaineering, and I wanted gear that could help ensure my safety and comfort.

Those boots have held up beautifully even after miles of trekking through all sorts of conditions, and I have sung their praises to any who would listen. They cost three times more than many decent options, but I have never for a second regretted the purchase; they were money well spent.

But ask me today, and I'll tell you the best money my wife and I ever spent was on the Owlet Smart Sock, a pulse oximetry monitor that we wrap around our daughter's little foot every night before she goes to sleep. By tracking her blood oxygen level and heart rate, the Owlet gives us constant, real-time reassurance that she is OK; that she's breathing, that her heartbeat is strong, and she's not in danger or distress.

Sure, it's an expensive little device. In fact, the Smart Sock costs $300, just about the same price as my trusty boots. But that's a small price to pay for peace of mind. And should our baby ever experience a serious medical issue, from a blocked airway to an infection causing a rapid heart rate, the Owlet Smart Sock could be the difference between life and death. I'd say that meets the criteria for a classification of priceless.

There are all sorts of baby safety products out there, from futuristic monitors that track infant sleep patterns to good old baby gates and outlet covers (and we have plenty of such hardware ourselves, with corners capped, drawers locked, and so on), but no product has ever matched the Smart Sock in terms of value.

We use it every night and we know full well that in less than a year, our baby will outgrow it and it will be obsolete for our family. Yet if I accidentally stepped on the thing or ran it through the washing machine today, I'd have ordered another one by tonight. And I wouldn't sleep that well while waiting for it to be delivered.