Ever wonder why you are stuck in a financial struggle? Well, it’s time to evaluate your spending. I know that it’s also important to reward yourself from time to time but keep in mind that if you want to achieve financial freedom and success, you must be conscious and wise with your spending habits.
To help you with that, here are 4 questions to ask yourself before making any purchase.
1. Do I really need it?
This is an age-old question. But seriously, do you really need another pair of blue jeans? Another plain black shirt? Another pair of white sneakers? So what if it’s on sale? You don’t need to buy something similar to what you already have. Remember the old saying? Your eyes are bigger than your stomach; well, in this case – your eyes are probably bigger than your bank account… Which leads me to the next question…
2. Can I afford it?
Sure, buying that designer purse is a dream come true but do you really have extra money for that? Or you’re just going to put yourself into more debt when you purchase it? Everyone’s upgrading their smartphones and you think that you should too, but hey, can you really afford it? If you really want something, make sure to wait and save for it. Don’t just swipe that credit card of your impulsively.
Let’s say you can afford it. Now let’s proceed to the next questions…
3. Are there other, cheaper options?
Before making a big purchase, check first if you can buy it for a lesser place. Maybe other retail or online stores are selling it for a much cheaper or discounted price.
4. Will this make me truly happy?
Lastly, ask yourself if buying the item will give you long-term happiness and not just a temporary one.