Todays post is all about why are you buying what you are buying. Next time you are about to buy something try to think of these things and see if you still want to buy it. If the answer is yes then go ahead. If it is no maybe you should put the purchase back and think about it a little more.
- Does it replace something?
- If it replaces something is the thing you are replacing need to be replaced because A) it got old and just needed to get thrown away even if you didn’t use it that much? B) You just want something new? or C) It is something that you have used so much that it got worn out and you really need a new one. If it is C then you are more likely buying it for a good reason.
- Does it provide me with more time?
- Does it allow me more time to do other things? I have someone mow my lawn. Granted I got a really good deal but I do it because I hate mowing the lawn and it frees up that time every week for me to do other things.
- Does it make me happy?
- Will this thing make me happy? Sounds like a simple question but you have to go a little deeper. Am I buying it because the item will make me happier or because the act of buying something new makes me happy? If it is the act of buying something then I recommend a pack of gum or something else sub $1.
- Without looking at the price how much would you pay for it?
- After you decide how much you would pay for it then look at the price tag. If it is higher than what you perceived the value to be then I would recommend not getting it.
- This I find particularly helpful with art. My wife and I like art but we take a while before we purchase something. I often ask myself is “how much would I buy that for?” 9 times out of 10 it is a lot less than what they are asking.
- Where am I going to put it?
- Everything has to have a place. Figure out where that place is before you even purchase the item. This is one thing that has been a blessing for us in our small house. My wife likes looking at furniture and I always say where are we going to put it. This has saved us so much money.
- Will it hold its value?
- No one wants to keep something forever … well a gold bar would be cool but impractical. At some point we may want to get rid of this item. Will this item keep its value or possibly go up?
- This goes hand in hand with is it of good quality? If not I would recommend not getting it until you can afford something that won’t break in a month and force you to buy it again.
- How many people in the household would use it or enjoy it?
- If you live with a wife and kids, roommates etc. How many people will want to use it? If you are the only one should you really get it? If everyone gains joy from it then it may be a good purchase.
Next time you are going to buy something ask yourself these questions first.
Originally posted on my old blog SimpleLike.me (Note:old domain may now be offline)