In my mom’s words, “parang bato ka”. Every time I would not give into a ‘want’, she would compare my attitude towards spending to that of a rock – immovable. Call me frugal, but I am not ashamed to say that financial stability is something I do value. Feeling that I am not living pay cheque to pay cheque gives me peace of mind when I do buy something out of desire rather than necessity.
Before heading to the check out, I always put some thought into what I am getting before I get it. Keep in mind, I do not go through all the following questions in great depth. If I did, I would spend an odd amount of time staring blankly ahead. However, when you have done it as much as I have, it becomes a natural approach to spending.
1. Are you buying with your feelings, or with your thoughts?
2. Do you want or do you need this?
3. Can you afford it?
4. How many hours do you have to work to buy it? Is it worth it?
5. How much have you already spent on other expenses outside of your budget?
6. Can you justify the price for the potential value you gain from it?
7. Based on what you know now, is the value of the purchase expected to go down?
8. Are the alternatives worth pursuing instead?
9. Will you regret not buying it if it is not available after you leave?
10. Is there something you want more?