15 Questions to Ask Yourself Before Buying Anything
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Are you looking to save money? Curb spending guilt? Or maybe you want to spend more intentionally? Let’s be honest, all three are easier said than done. But while the pull to buy something can be strong, asking yourself a few questions can help discern whether a purchase is worth it. So here’s a look at 15 helpful questions to ask yourself before buying anything.
P.S. – I don’t expect you to remember every question. My hope, though, is that you’ll commit a few of your favorites to memory.
1. Can I really afford it? (how will I pay for it)
Just so we’re clear, the answer to this question has nothing to do with whether you have enough in your bank account for the transaction to go through, or whether you have a credit card/debit card in your wallet.
The answer goes deeper and involves honestly considering how this purchase will affect your finances. If you have to move money around to make a purchase, buying the item could make it harder to pay for a necessity.
2. If no one ever saw this item, would I still want it?
This question can determine the real intent of a purchase. Are you buying the item for yourself, or because you’re trying to impress others?
3. Am I masking an emotion?
Many people struggle with a shopping addiction because shopping increases dopamine which is a feel-good hormone. So when you’re feeling down, shopping can make you feel better. But the feeling doesn’t last.
Consider how you felt in the moments leading up to a purchase. If you were sad or stressed, and now you feel calm and happiness as you anticipate the purchase, you’re likely buying the item for the wrong reason.
This purchase isn’t going to bring long-term happiness, so you’re better off learning how to cope with the emotion.
4. Can I afford to maintain it?
Many people forget to ask themselves this question before making a larger purchase – and this gets a lot of people into trouble.
Remember, just because you can afford to buy an item – either outright or through monthly payments – doesn’t mean that you can afford the upkeep and the maintenance. Think about how much you’ll spend on the item “after” the purchase, and then determine whether it’s worth the price.
5. Do I have something similar?
I am so guilty of buying duplicate and similar items, so I have firsthand experience with this question. It forces you to pause for a moment and think about what you already have before making a purchase.
6. Where will I put it?
Everything that comes into your home needs a place. So before buying something, make sure you have a designated spot in mind. If you can’t figure out where to put it, you probably have enough stuff.
7. How much did I have to work to buy this?
Calculating hours worked to pay for an item is one of the best ways to save money. If it takes four hours of work to pay for something, seriously consider whether that one item is worth a half day of work.
8. Can I borrow it?
One-time use purchases can add up. And they don’t only rob you of money, they can also clutter your house. So before buying a specialized item that you’ll probably use once or twice, see if you can borrow it from a friend, relative, or neighbor.
9. Am I only buying the item because it’s on sale (or because I have a coupon)?
I’m guilty of this too. But remember, a sale or coupon isn’t a bargain unless you actually need the item, or you were planning to buy it anyway.
10. Is this the best price?
Don’t know the answer to this question?? That means you haven’t done your due diligence by shopping around. Comparison shopping is the only way to know if you’re getting a good price.
11. If it’s an unplanned purchase, is this item more important that hitting a financial goal?
There’s nothing wrong with splurging, but the key is to be intentional about purchases and avoid impulse buys.
So if you’re tempted to spend money “on the spot,” think about your money goals. Whether it’s getting out of debt, taking a dream vacation, or buying a house, ask yourself: Is this item more important than my goal?
12. Is the item multi-purpose?
Shopping less also reduces clutter, and prevents accumulating stuff that doesn’t add any real value to your life.
If you’re trying to free up space (and save money), buying fewer single-purpose items can help. You can even make it a little challenge. For the next 30 days or six months, don’t buy any item unless you’re able to use it in a variety of ways.
13. Did I read the reviews?
I can’t count the number of times reviews have saved me from making a purchases I probably would have regretted.
It doesn’t matter what you’re buying – whether it’s clothes, shoes, electronics, or home decor – read what other people have to say about the item before buying it.
14. Can I wait to buy the item?
If you have an immediate need for something, by all means buy it. But if it isn’t a need, don’t rush to buy it. You can wait for the item to go on sale, or wait to buy it used. It also helps to “sleep on it.” After 24 or 48 hours, you might lose the urge to buy the item.
15. Do I “honestly” see myself using the item in a year?
You also have to think long-term. When an item catches your eye, you might think of how you can use or wear it now. But I challenge you to step outside the present and think into the future. Do you really see yourself using the item after 3 months, 6 months, or a year?