If you can afford it, there’s nothing wrong with an occasional pricey indulgence.
What else can that money buy? A few weeks worth of groceries? A year’s worth of monthly dinners out? Take some time to think of smarter ways you can spend this money before making a final decision. HOW MANY HOURS WILL YOU NEED TO WORK TO PAY FOR THIS PURCHASE?Ĭalculate the total number of hours you’ll need to work to pay for this “must-have” item. Finally, consider purchasing a previously owned item for less. Also, wait for a sale if it makes sense to do so. Visit coupon sites like for automatic savings. Try comparing prices online at Google Shopping, NexTag or Bizrate, and compare some brick-and-mortar shops as well. When making a large purchase, it’s important to comparison-shop. Try the Loan Payoff calculator and play around with different balances and interests. If you plan to pay it off over time, do the math before you purchase at /calculators. Buying it with a credit card could mean you’ll be hiking up the price once interest is tacked on. That 50% off sticker seems like an awesome deal, but do the math. Before you say “yes” to a large purchase, ask yourself these questions: You can’t help wondering: Was it really worth the price? Avoid getting sucked in again. You’re thrilled! That is, until a few weeks later when the credit card bill comes and buyer’s remorse hits. So you swipe your card and the dream item becomes yours.
Or maybe you just know that a giant screen TV will transform your weekends. Money solves everything, right? If we simply made more money, then we’d pay our bills on time, be able to afford the things we need and want, and have enough for retirement.
Questions to ask yourself to assure a wise purchase.