I was browsing one of my favorite blogs yesterday, I came across a bit of home decor that I had admired for a while on this blogger’s page. She had it hung in her living room, and it looked wonderful. Of course, she got it for free in order to promote the store that carried the products, and as part of a one-day promotion, that particular item was discounted from $59.99 to $19.99, a real bargain. I clicked over to the site and almost ordered the item. Almost, because I know that there were at least three reasons to leave the stuff in the store.
1. Not Goal Worthy
The purchase of this item did not currently fit into our financial and personal goals. While there is something called “opportunity cost,” that is being able to afford opportunities when they come along, one has to be careful. Opportunities can sometimes make you go broke. Since we have very specific goals for our home and the money that will be used for them, it became clear that I should leave the item in the store.
2. Maintenance Cost
Because the piece was larger, I know that it wouldn’t be all that easy to keep clean. I wouldn’t be looking forward to that. Plus, a total of seven different pieces would need to be mounted to the wall. Since I am still waiting for one shelf to be mounted on the wall, it could be a while before we actually got it hung in place, unless we took time out from another project. Although I admired the piece, I didn’t love it enough to overcome the maintenance costs.
3. Impulse Purchase
The decor item was clearly an impulse purchase. I did not get up in the morning thinking that I would get this piece. It wasn’t on my wish list, nor did I do any research to see if there was something similar at a lower price or that I liked better. I don’t like making impulse purchases because they affect our budget.