As someone who used to shop for all the wrong reasons, I know all too well the pitfalls of mindless consumption. That’s why I developed a system of 7 questions to ask myself before making a purchase. These questions have helped me break free from the cycle of impulse buying and become a more mindful, intentional consumer. By taking a few moments to reflect on how a potential purchase fits into my life, I’ve been able to save money, reduce clutter, and cultivate a deeper sense of gratitude for what I already have.
Below are those 7 questions.
1. Would you rather have the thing or financial freedom?
I know, I know. Sounds dramatic to ask yourself if you’d rather have a $25 blouse or financial freedom. I mean, $25 isn’t the difference between being financially free and being broke, right? Think again.
The thing about impulse purchases is that they’re incredibly easy to validate. You can tell yourself that you’ll never want something as bad as you want the thing you’re considering buying. That you’ll just buy that one thing and then cut yourself off from spending after that. But the truth is, there will always be a swarm of other things itching for your attention with the same intensity. It’s like a game of Whac-A-Mole, where you try to satisfy one desire, only to have three more pop up in its place. That’s why it’s important to think about each purchase as the difference between being financially free and struggling to make ends meet – no matter how big or how small.
2. What else could you do with the money you plan on spending?
When you’re out shopping, it’s only natural to fixate on the things you’re gaining – whether that’s a new pair of shoes or a fancy gadget. But by taking a step back to think about what you might be losing in the process, you can avoid making a purchase you’ll later regret.
Every purchase you make is a loss. I know, I’m being dramatic again – but it’s true! You’re trading the time and energy you put into earning your hard-earned money for a new product. Plus, you’re not just giving up the time and energy you’ve already invested; you’re also giving up the endless possibilities that money holds up until the point you spend it. Think about it – that cash could be the key to unlocking amazing experiences, starting a savings account, or even making a difference in the world. Suddenly, that new gadget doesn’t seem as essential, does it?
3. How many hours did you work to earn the money you plan on spending?
Each dollar in your wallet represents a slice of your life—hours of dedication, effort, and energy you invested into your job. It’s the early mornings, the late nights, and the countless hours of hard work that earned you that paycheck. Are you willing to trade away those hours for something that might bring only fleeting satisfaction?
Before making a purchase, consider whether the item you’re eyeing is truly worth the valuable time you’ve invested at your job. Ask yourself – is that $80 sweater really worth five hours at the office?
4. Do you currently own anything that serves the same purpose?
The things we buy should add value to our lives. So, before buying something new, ask yourself, how will this thing change my life? If you already own something that serves the same purpose, most likely the answer will be, ‘it won’t’. If this is the case, hold off on buying it.
5. Can you afford it?
A popular question to ask yourself when you’re considering buying something new is, ‘do I need or want this item’. Although posing this question may help some, sometimes making the distinction between wants vs needs can be tricky. In the moment, it might really feel like you need that new top. And you’ll find a million reasons why you do. That’s why you should ask yourself if you can afford the item instead. This question is very black and white. You either have the money in your budget to buy the item, or you don’t.
6. Can you afford to maintain it?
Not only should you ask yourself if you can afford the item, you should also ask yourself if you can afford to maintain it. Certain purchases require lots of maintenance over time. Items like appliances, cars and even nice clothing that you need to regularly dry clean. By calculating the cost of maintaining the item and factoring this cost into your budget, you’ll know if it’s something you can afford long term.
7. Are you shopping for your fantasy self?
Shopping for your “fantasy self” is the act of buying things that align with an idealized version of yourself. These items won’t add value to your life because they aren’t practical or reflect your lifestyle.
Unfortunately, distinguishing the difference between a ‘fantasy item’ and a practical purchase isn’t always easy. You see, advertisements are masterful storytellers. They don’t just sell us products; they sell us dreams, aspirations, and the tantalizing promise of transformation. Advertisements create an alluring connection between the product and a desirable lifestyle, making us believe that buying their product is a magic potion that will turn us into the epitome of beauty, wealth, and success – it won’t.
So, how do you know if you’re shopping for your fantasy self? Ask yourself the following questions:
- Does this article of clothing suit my lifestyle?
- Will I feel comfortable and confident wearing this item?
- Does this item align with my personal style or does it represent an idealized version of myself?
- Am I buying this item because it serves a practical purpose in my life?
- Is this purchase motivated by a desire to satisfy my own needs, or am I trying to impress others?
- Would I still want to wear this item in the future, or is it just a temporary, fleeting impulse?
Click here for more tips to stop shopping for your fantasy self!
In Conclusion
If you always seem to have a package waiting for you at your doorstep, it may be time to start asking yourself some important questions before buying something new. These 7 questions can help you evaluate whether you really need that item you’re considering buying.
Looking for more inspiration? Click here for 15 tips to help you stop buying things you don’t need.
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