We’ve all had times in our lives when we’ve made a bad purchase decision. We were pressured to buy something on the spot, we wanted to keep up with our friends, we saw a deal that seemed too good to miss.
The phrase ‘You snooze, you lose’ pops into your head as you open your wallet. And oh, how retailers make it so easy to spend money!
Before you make your next shopping trip – whether it’s at a major retailer, a garage sale, online, or at a thrift shop – remember that there is another saying that goes like this: ‘Good things come to those who wait.’
Although it may not always feel like it, you have time to think before you spend. You have time to ask yourself the following questions:
5 Questions to Ask Before Buying
Why am a I buying this? This question will help you determine if your purchase is necessary or something you’d just like to have. “Because it’s on sale” doesn’t make this item something you need.
What will I use this for? If you can identify several uses for the item, it’s probably worth purchasing. But if you can’t picture yourself using the tool or wearing the outfit more than one or two times, leave it at the store.
Who am I buying this for? Are you buying this for yourself or a family member? Or are you buying it to impress someone?
Do I have something at home I could use instead? There’s nothing worse than buying something, coming home, and discovering you have something lurking in the back of your closet that would have worked just as well. Asking yourself if there are other, less expensive alternatives can save you money.
What will happen to this item when I no longer need it? I’m trying hard to throw fewer items into landfills, so I’m paying more attention to what I buy. I try to buy things that I could re-sell when I no longer use them, repurpose them into something else, or recycle them.
There will be times in your life where you will need to seize an opportunity when you find it. But there are other times it pays to be patient. The more thought you put into your purchases, the more money you keep in your pockets.