Wednesday, March 16, 2011

Wait! Don't Buy That...

We live in a disposable society. We buy more than we need and we throw away the excess. When I am at my most frugal and environmentally-concerned I imagine the United States has already produced as many goods as we could use for many years and instead of buying new we should all have big yard sales and just recycle what we don't need or want any more.

This article on wisebread.com has 6 simple tips for helping your budget and a couple of them struck me as obvious, but surprising. The idea of a waiting period for a purchase was fascinating to me. We have all heard about waiting periods to purchase guns (although as Homer Simpson said "Waiting period? But I'm mad now!), but what if we used that same psychology before buying a new purse or a pair of boots? If after 30 days you still really want the item and you can afford it, go for it.

The last tip is also something I am trying to do more: assess your purchase after you have had it for awhile. Do you use the purse? Wear the boots? Are they comfortable? Good quality?

I did this with my e-reader. I bought my Nook and for the first month used it to play Sudoku. I was starting to think I had wasted $150 when I could buy a Sudoku book for $4 at CVS. Then I read my first book on it and fell in love with it. I saw the benefits to this trendy piece of technology and was thrilled I had used some of my Christmas money on this instead of candy and magazines.

For my whole life I have spent money when I had it, like this week after getting paid and paying all the bills I was so tempted to go out and buy something. I had nothing in mind, maybe some DVDs or a spring coat (neither of which I need). Reigning in the impulses and being more thoughtful in my purchases will take some time, but I hope I am on the road to recovery.

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