How do you stop a spending spree? Have you ever had one? Be honest. I know that there are a few people who haven’t, but most people experience at least one in their lives. You could have just moved into a new house, and then decided that you did not want to wait to buy new furniture and went a little crazy. You may have gotten a new computer and decided that with the new hardware, you need all the latest software as well. Or it may be a new gaming system, a new big screen television, and a new boat. The big purchases have a way of causing you to make a lot of smaller purchases as well.
Of course if you have planned well, and you have the money to cover these expenses, then there is no reason to stop. Go ahead and get what you want now. You earned it! But if you don’t have the money, and all the little things are going on a credit card, how do you stop? It really is important to stop, if you do not have the money for the purchases. Here are three things to consider after you buy a big-ticket item.
1) Do you really need the item? You may not need new furniture; you just want it to match your house. You may not need the latest edition of Final Cut Pro with your brand new iMac. These things may be wants. If they are wants can you find ways to earn extra money or set it aside to save up for these items.
2) If it is an item that you need, do you need it now? For example you may need a couch if you have never lived on your own before, but you can sit on the floor for a few weeks or months in order to save up the money for it. If you just bought a new boat, then you will need the life vests now. Find something to sell or an extra job so that you can pay cash for those items.
3) Is there any way to save money on the purchase? Could you buy secondhand to make do for awhile? Can you wait until the item goes on sale? Could what you have now work if you changed it somehow? These questions can help you to change your perspective and save you a lot of money as well.
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