But, I Need This! – Saving Money by Prioritizing Purchases
This wonderful post was written by Kristen at ThriftyMrsB.Com
Last week, my husband and I were walking through T.J. Maxx, and I found the cutest little ornate sugar bowl that you have ever seen. It had a little ceramic loop on the side with a tiny ceramic spoon stored in it. Around the edge was a beautiful gold swirl design, and of course it said “sugar” in swirly letters on the front. To top it all off, it was on sale for five dollars. Clearly, I need it.
Then, I started thinking about why I need it. I don’t currently have a sugar bowl. Instead, I scoop my sugar right out of the canister. I don’t have anything fancy to serve sugar in when I have people over for tea or coffee. It would also be décor for my tiny apartment, while still being useful. It’s pretty, and I like it. I want it.
If you’re not laughing at me yet, please take the opportunity to do so.
In sixty seconds I had myself convinced that I need this sugar bowl. Do I have a sugar bowl? No. Have I ever thought, “Man, this would be so much easier if I had a sugar bowl!” No. Do I frequently host friends for fancy coffee or tea parties? Never. So how did I convince myself of my “need” so quickly? I started making an emotional connection with a sugar bowl!
You’ve been there, haven’t you? We’ve all been victims of “the shoes were calling my name” disorder. We convince ourselves that we need something, and we have to have it now.
Friends, America has a problem. We have completely changed the definition of the word need. We’ve allowed ourselves to become controlled by advertising – “How have you lived without this?” We have convinced ourselves that we will only be happy if we keep up with the latest trends and gadgets. This is a slippery slope.
Please do not think that I am perfect in this area, but let me share a few tips with you to help you save money by asking yourself a few questions before you make a purchase.
In three months, will I be happy that I bought this?
If the answer is no, seriously evaluate if this temporary happiness is worth spending the money. Sometimes, a purchase might be a fun memory or a great experience. However, if in three months this purchase will be another sweater hanging in the back of your closet that you never wear, skip it. Invest in items that you will enjoy long-term.
Am I buying this because I’m in a bad mood?
Sometimes, I’m tempted to indulge in retail therapy. This is dangerous! Shopping has become the 21st century version of stress-eating (although I’m pretty sure we’re still stress-eating too). Buying “stuff” is not the best way to handle being depressed, stressed, or upset. Better ways might be talking with a friend, going for a run, or working on a hobby.
Have I shopped around for the best price?
Friend, do you have any idea how many apps are out there that let you compare prices and check for coupons? The least you can do is look up the item on Google or Amazon to see if you could get a better deal somewhere else.
Is this item likely to go on sale soon?
Smart shoppers know that stores have sales and wait to buy things at the right time. You will save a ton of money if you buy holiday items a year in advance after the holidays. Shop stores like Bath & Body or Victoria’s Secret during their semi-annual sales. Shop at the end of the season to get great deals on winter boots or bathing suits for the next time that weather rolls around. Thinking ahead can help you save big.
Have I thought about this purchase?
At this stage of my life, money is pretty tight. Although I have wiggle room, I don’t want to spend that extra money if I can help it. Saving is more important to me. For now, my husband and I try to wait at least 24 hours before purchasing something that is outside of our normal budget, especially if it’s a large purchase. Waiting 24 hours gives you a night to sleep on it. It helps you take time to decide if the purchase is really worth it, or if you were simply impulse buying. Also, if you wait, but then are too lazy to drive back to the store, the purchase probably isn’t that important.
Is this a want or a need?
You knew this one was coming, didn’t you? I’m not saying you can’t ever buy “wants,” but being honest with yourself as to whether a purchase falls into the “need” category or the “want” category will help you decide if it’s truly worth it. If I tell myself that something is really a “want,” then I start thinking, “Do I want this more than I want to be debt-free, have extra savings, or be able to get a coffee at the end of the month with my extra cash? Is this where I want my money to go?”
When you ask yourself questions like this, you’re thinking about your money in a different light. We all have enough expenses that we don’t choose, but must pay. Taking ownership over which “wants” you spend your money on will help you save money and invest in things that truly matter.
This article was written by Kristen at ThriftyMrsB.com! Please take the time to visit her site for more great and useful money saving tips. You can also like her on Facebook!
What is one purchase that you’ve made, but then regretted?
