At least it is for me! When I am thinking of buying something, I make myself stop long enough to consider the following questions:
Most of the time, I decide against the purchase after the first couple of questions but if I make it through all of them, I ask myself do I really need this and what else will I be giving up if I do purchase it?
I have found during the past couple of years that I am able to avoid almost all impulse spending in this manner and even most of the planned purchasing.
The only thing that is multiplying and expanding is my savings account, and the elimination of any debt, which makes me very happy. This is the 8th month in a row where I had more money left at the end of the month than I had planned on at the beginning.
By Ronsan
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I like your list. I think I do something similar. When I want to buy something I am not certain I need I try to talk myself out of it.
For example:
I also ask myself:
Is there something else that would serve the same purpose or a cheaper way of getting the job done?
I read a cool tip about placing a floor tile on the kitchen counter next to the stove so that there would be a place to set hot pots. I almost bought a floor tile. Then I remembered there were a few left over from the kitchen being tiled and used one of those instead.
Another trick I use is to walk away. If I really need the item I'll come back for it.
The list is great and right on. As retirees who never made a lot of money and have a very minimal retirement income. (what we get in a year for both of us a neighbor gets more per month just for him) and friends can't believe all we do, they think we are rich (in each other only) but we are far from it.
We've have always said is it a need or a want and I also looked at things with - how long did I have to work to make the cost of the item. It is a great reality check. Starbucks/fast food drinkers-eaters, mani/pedi folk are you listening? Is it really worth it?
Having funds for really important things is so much better. I could go on and on, but trust you get the idea. We are very happy and have never felt deprived. We don't need "stuff" or "treats" to enjoy life fully.
I try to consider where it was made. Most everything comes from China now. Something like 60% of the products we purchase were made or picked by children in 3rd world countries, some even here in America. Coffee beans are mostly picked by children who work long hours for almost no pay.
Always keep checking other stores for what you are looking for. Do not stop at one store and make the purchase. If you keep looking you might find it cheaper or something better for the same price.
By Kristen Richard
One thing I have learned to do is wait and see if it will go on sale. There was an electric cookie press that came out right before Christmas and boy did I want it. But money was so tight right then, that even 18.76 was too much too spend on it. So I waited and today I found it on the clearance rack for 10.00 and bought it.
Great questions to ask yourself. In these times we also are asking ourselves if we really need the item. I also figure out how many hours I have to work to pay for that item and waiting overnight can make a big difference in your decision also. Keep up the great work.
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