Whenever a financial decision must be made always consider the conditions of the purchase. Just because an item is on sale does not necessarily mean you have to get it. My best advice is to ask yourself "is this a want or need"? If you decide it is a want, delay the purchase for 7 days. This will give you time to reconsider and prioritize the item's value. Typically what will happen is after those 7 days the item will become less and less valuable to you. Or in my case something major happens that I otherwise would not have budgeted for.
This is similar to the concept of never going to grocery store when you are hungry. Although, I do it quite often. Why else would I be there if I was not craving something.
Seriously though, by maintaining a mental spreadsheet of your wants and needs you can quickly find an excuse not to make impulse purchases.
Charmane I love your topic! I am a big fan of shopping. I agree with your thoughts on categorizing your purchase into a want or a need. However, I often place a lot of "want" items into the need category. Another question a friend taught me is "do you like it or do you love it". If you like it...you don't need it. If you love it...buy it. Just some thoughts. Probably not as effective as the want or need decision.
Whenever a financial decision must be made always consider the conditions of the purchase. Just because an item is on sale does not necessarily mean you have to get it. My best advice is to ask yourself "is this a want or need"? If you decide it is a want, delay the purchase for 7 days. This will give you time to reconsider and prioritize the item's value. Typically what will happen is after those 7 days the item will become less and less valuable to you. Or in my case something major happens that I otherwise would not have budgeted for.
ReplyDeleteThis is similar to the concept of never going to grocery store when you are hungry. Although, I do it quite often. Why else would I be there if I was not craving something.
Seriously though, by maintaining a mental spreadsheet of your wants and needs you can quickly find an excuse not to make impulse purchases.
Great food for thought.
ReplyDeleteCharmane
ReplyDeleteI love your topic! I am a big fan of shopping. I agree with your thoughts on categorizing your purchase into a want or a need. However, I often place a lot of "want" items into the need category. Another question a friend taught me is "do you like it or do you love it". If you like it...you don't need it. If you love it...buy it. Just some thoughts. Probably not as effective as the want or need decision.
Marlena,
ReplyDeleteMy problem is I fall in love so easily.