Take time when making a major purchase.

How often do you ever think of what you are purchasing before you buy it? I try to take a couple of days before I make my purchases.  I am talking about groceries and essentials but what I am talking about  are things that I am wanting and not really needing. For an example I just bought a fishing pole. I saw the one I wanted and the cost of it was $150.00 but before I purchased it I went to the store to really make sure that this was the one that I really wanted. I really thought this was the one that I really wanted, but before I would spend that kind of money for a fishing pole I would check around at a couple of other stores before spending that kind of money. I went to a couple of stores and I found one that was just as good if not better for $60.00. Now if I was an impulse buyer I would have wasted $90.00 on something that is just as comparable as the one for $150.00.

I was really glad that I did not purchase the one for $150.00 even though I would have liked it very much but if I would have purchased the more expensive one then I would have had buyer’s remorse when I saw the one for $60.00. We have all had buyer’s remorse at one time or another. I find that taking my time when purchasing things I can usually avoid getting upset for spending extra money on something that I could have found cheaper.

Here are a few questions that I ask myself before I make purchases.

Am I just making this purchase because of emotion or logic? You should never make a serious purchase just out of emotion. Most of the time when you make a purchase with just emotion then you will probably regret the purchase later on. For an example you are walking through a store and a new television catches your eye and you make the purchase just because you get attached emotionally to the item, then a week later you get hit with the credit card bill you forgot about and you don’t have the money to pay for it because you spent it on the television. You let your emotions get the best of you and you did not think the purchase through all the way.

Do I really need this item? I ask this question at every purchase I make. A lot of times I find that the purchase is a want, so I weigh out how much enjoyment am I going to get out of this item. Wants are fine as long as they will give you plenty of enjoyment over the years.

Do I have the spare money for this item? I will not make a purchase unless I know for sure my bills are paid and there are enough funds in my account for any emergency that may come up, If I have any question about whether my bills are paid or not then I will hold off on the purchase until I know for sure that all my bills are paid for the month.

Have I done my research on the item? I will not make any purchase until I have shopped around to make sure that I am getting the best price. There are many times when you can make the purchase online. Most of the time by shopping online you will save money on gas and time. Again by not being an impulse buyer I save a lot of money by shopping around. 

In today’s times it is hard to save money and we are all trying to become financially independent. We all need to make our purchases smart and wise. Each purchase needs to be thought through and analyzed to make sure the purchase is the right decision and we are getting the best price for it.