When it comes to saving money, the most biggest lesson to learn is to only make “considered” purchases. But, most people choose to spend every last penny and enjoying life to the maximum. And then their money rapidly melt away like a snowflake in the sun.
So today I’d like to tell you 4 questions you should be asking yourself everytime you buy something.
Ready? Let’s scroll!
1. How much pleasure will that thing bring to you?
This question aims to minimize your spending on things that bring you less pleasure.
Let’s ask yourself: how many things have you bought in the pass that you soon got bored with? A lot, isn’t it?
The fact that we are spending money not only for the things we need — like your rent or your food, but also for the things we want — like some luxury designer clothing, vacations, meals out. And those things are just temporary pleasures that fade soon afterwards. Not always, but often.
Therefore, the first question to ask yourself is how much pleasure a certain expense will bring you. Be honest. Will that dress really be worn every weekend for years to come, or will it soon get hang at the back of your wardrobe to gather dust?
2. What is this thing’s longevity likely to be?
Many people misunderstood that because they want to save money, they will buy the cheapest item. Wrong!
The first thing that we should consider is not the price, but the value of that item. If a cheap chair breaks in just few months, but the one that cost twice as much is still being used a decade later, which one is really the bargain?
Before purchasing something, let’s imagine how long you can use that item. Is it worth to buy? Will you still use it in months or even years in the future? If so it could be a good purchase.
3. Do you really want it?
A few months ago I decided that I would buy a new iPhone. I did my research and found the one I fell in love with. Then I started saving. However, the funny thing was that before I reached the sum of money I was aiming for, I just felt like I didn’t want it anymore. I’d just been caught up in the excitement of a few friends who had bought iPhone recently. I was tempted to buy something totally unnecessary just because I wanted to be like my friends? Insane, right?
So again, before buying anything, take time to think about its use and how much you really want it? Or it’s just for impressing other people? Then, maybe your money could be better spent elsewhere.
4. Could you find it cheaper somewhere?
Incase you do decide to go ahead on a purchase, make sure you’re getting the best price. Take time to go around, compare prices and even negotiate if possible.
There you have it — 4 simple questions that you should apply whenever you’re tempted to buy unnecessary things. Hopefully, you can take the best of them and see how much money you can really save.