Money Saving Tips

Making a Large Purchase? Wait!

You are flipping through the latest mail catalog and you see something in there with a pretty price tag that you think you HAVE to have. You get excited, your heart starts beating fast, and you are already daydreaming about what it would be like to have that item. If you are frugal, you start shopping around online trying to find the best deal and you still want that item NOW. In fact, you run to find your purse, take out your wallet and dig around through your credit cards for this new gadget that will change your life and make it better.

WAIT!!!

Are you sure you want that item? (You think, "yes, of course!") But WAIT. Are you "really" sure you want that item?

You have the little devil on one shoulder telling you to "Buy, buy, buy" (when you may already be in debt), and you have the Angel on the other shoulder saying, "Maybe you should wait! Will that really make your life better?"

Temptation to buy is everywhere. It's in your mailbox. It's in your email and on the internet. It's on your T.V. It's the temptation to want to buy the latest high tech. gadget out or best selling item out there. Advertisers make you feel that if you buy this item, it will change your life--for the better. But, will it?

Before you make a large purchase, consider waiting 15-30 days before making the purchase.

A few months ago, I was tempted. I teach cycle classes at our local gym. I saw an advertisment for a stationary bike that I was interested in for practicing purposes, and I REALLY wanted it. I mean, I almost purchased it. This is a $500 bike I am describing. I was in the "I WANT IT NOW!" stage. I was excited! I decided to wait a day or two to shop around to find the better deal (even tried to find one on Amazon that I could apply my Swagbucks earnings to.) Several days passed. I was still looking, but the excitement was wearing off. And here I am a few months later, and I don't even want the bike anymore. That is not to say I wouldn't want it in the future, but if I do get the urge to "want it badly" again, I will make sure I wait a few weeks before purchasing to make sure it is something that I know I want.

If you plan to make a large purchase, ask yourself these ten questions:

1. Is this a want or a need?
2. Will this make me happy?
3. How will this make me happy?
4. Do I see myself using this a month from now? A year from now? Five years from now?
5. Can I afford this?
6. Do I have the money for this now or do I have to put it on credit?
7. Where can I look to find the best deal for this item? Will it go on sale?
8. How will this item be beneficial for others (family, friends)?
9. Will my family be upset if I make this purchase?
10. Will this item most likely end up at Goodwill or in a garage/yard sale?

Then after you ask yourself these questions, I challenge you to wait 15-30 days before making the purchase to see if you still really want this item. If after that time you do still want it, then ask yourself the questions again and decide if you think the purchase is right for you.

Do you wait before making large purchases? Have you made an large impulse purchase that you regret?  


 

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Two Items You Can Cut From Your Grocery Bill

1. Paper Towels:

Paper towels are EXPENSIVE and they end up in the trash anyways, right? You might as well throw your money in the trash. Unless you are getting paper towels fairly cheap after sales and coupons, you can live without buying paper towels. Instead, buy a few packs of "bar mops." You can get these from Wal-mart or even Bed Bath and Beyond for about $5.00 for a pack. I have about 20 of these and they last a long time. Just make sure you throw some bleach in every now and then when you are washing them. I keep a set in my kitchen and a set in my bathroom for quick cleaning (to keep them separate, you can use a magic marker to write a B for bathroom or K for kitchen) on them. Worth the investment. I do keep some paper towels in the back of the cabinet for special guests, holidays, etc. but I haven't bought any in a LONG time.

2. Trash Bags:

Where do trash bags end up? In the trash---just like the paper towels. Stop wasting money and try this alternative. Buy small trash cans from the Dollar Store or Wal-mart. Recycle plastic grocery bags and line the can with them. Now you don't have to buy trash bags anymore! This is another item I have not purchased in a LONG time and probably won't unless I find it absolutely necessary! For larger families, you may need larger trash cans and use the oversized department store bags--or just take your trash out several times a day.

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