Manage Impulse Spending by Asking How Buying Improves Your Life
There’s nothing wrong with spending money, what it is, what it is for , after all. However, it is easy to waste mindlessly. To develop the habit of spending money for a specific purpose, ask yourself this question before you spend money: How will buying improve your life?
As personal finance specialist Trent Hamm points out, it’s really a simple matter to drive spending in line with your priorities. Hamm writes:
In other words, if you exchanged an amount of money equal to the price of that item, would your life end better than if you kept that money in your pocket?
This is a question that I use all the time when it comes to nonessential purchases in my life, what people eat in restaurants, gadgets, drinks, entertainment, and so on, and taking it seriously is an important part of my life. financial arsenal … Needs make one think about stupidity. Important wishes make the question worthwhile, but you begin to realize how important this subject really is to you. Trivial desires – and this is what most really are – start to look terrible.
Of course, not all purchases will be answered unequivocally. A pack of chewing gum won’t necessarily make your life better, but you probably don’t want to spend too much time thinking about a $ 2 purchase . However, when you are truly in doubt and unsure of a subject, this question sets you up for more deliberate spending. Check out the full post at the link below.
Does this purchase make my life better? | Simple dollar