Every store you visit is going to be designed
in a manner to suck every possible dollar out of you. That means
big flashy signs, product at the registers, buy-one-get-one-free
sales, etc.. The most important thing you can do prior to making
any purchase is taking a few minutes to determine if it is
really worth buying. Don't buy on impulse. Not only will you be
buying things you don't need and wasting your hard earned money, but you'll be teaching your kids
that spending excessively is OK.
Below are some tips that will help you
determine if the item being considered for purchase is really
Do you need it or want it? Can you live
Many purchases are necessary and vital for survival. For
example, toothpaste, soap, food are a few of life's essentials.
However, stuff like clothes, electronics, jewelry, etc, are
usually discretionary items. Therefore, if you are not needing
an item you are contemplating buying, it is probably smart to
not purchase it.
What purpose does it serve?
I once bought a fancy bowl that I intended on using when I have
guests over for dinner. However, to-date I have never used it...and I
have people over all the time! It has done nothing but collect dust and taken
up space in my pantry. Totally of no use.
Will it ever actually be used?
My mother likes to shop. A few years ago she asked me to
come by and help her clean out her closets. When all was said
and done, we had at least 20 big shopping bags filled with brand
new clothes, still with tags, never worn. You may be reading this
and saying to yourself, 'I would never buy clothes and then not
wear them!'. But the important thing to do is think about what
you like to spend your money on. Think about it...have you
purchased a movie and never watched it? Or a book that never got
read? Do you have a piece of exercise equipment that turned into
a clothes hanger? I think you get the idea :)
Is this a passing fad?
Clothes are the best example of passing fads. Why are
you even thinking about paying $200 for a new shirt that will
likely not be in style anymore in six months? I know someone
that purchased 3 pairs of Ugg boots only to have them sit in
their closet as a result of them no longer being fashionable.
Don't feed into the craziness of passing fads!
Are you considering buying something to
If you are only make a purchase to impress your friends or
neighbors, don't...especially if that purchase is beyond your
means. You don't want to overspend on something just so that you
are an owner of that specific brand. For example, what makes a
Lexus SUV better than an Acura? Is it safer? Lots of times you
are merely paying more just for the name. Visit
Reports to ensure that any high ticket item you are thinking
about buying is worth it's price. Don't fall into that
trap/pressure of buying to compete with your neighbors. It is
possible that they can't even afford what they are purchasing
and are merely doing so to compete with you!
When indulging...do you really want it?
Spending on yourself is OK. We all need to treat
ourselves once in a while. But it is still important to consider
the tips above as well as evaluating if your self-indulgence is
really something you want.