Making a big purchase can improve your life or it can worsen it. Either way, you need to know the consequences before you buy big. Here some questions to ask yourself before you make the commitment:

  • Baby Needs Shoes?

Determine whether what you want to buy is a necessity or a luxury. Does it have a practical purpose or does it merely provide some comfort? Sticking to necessities prevents you from wasting money on frivolous purchases.

Like a kid in a candy store, we often want something even if it isn’t good for us. As adults, most of us don’t have that parent that’ll tell us “you can’t have that.” So we need to be that voice of reason for ourselves. 

  • What’s the Damage?

A big purchase can cause a domino effect. What will the purchase keep you from doing? What delays will the purchase impose upon you? Sometimes buying big does more than burn a hole in your pocket.

Perhaps you’re not willing to sacrifice your cash right now. Why not try payday loan alternatives like credit cards? You can quickly get what you want and pay for it later.

Of course, you should consider the consequences of these alternatives because you don’t want to get a shock when you’re charged with interest.

  • Is it An Impulse Buy? 

Is this a case of instant gratification or will the purchase serve a long-term purpose? Have enough foresight to identify things that will rid you of a proverbial itch and things that will continue to add value as time goes on.

There’s no point in buying something today if it won’t be of use tomorrow, especially if it costs a lot of money. Sometimes we get tempted and logic is bypassed. We need to identify moments like these and try our best not to give in to that weakness.

  • What’s the Use?

What exactly is the benefit of what you want to buy? Does it have a practical use, making your life easier from day-to-day? Does it save you time or energy? Is it a convenience or an appendage? Does it change the way others look at you?

Maybe you want it so you can prove a point to someone. Whatever the case, be aware of your why. It won’t always be obvious, dig into your subconscious to weed out any envy or negative emotion that might be driving you toward debt.

  • Is the Purchase Replaceable?

You might feel like you need some retail therapy. Don’t fool yourself, there are many cost-effective ways to make yourself feel better. There’s a reason it’s called shopping till you drop – you might actually drop!

Think about it carefully, what do you love doing? What is it that restores your joy when it seems like all is lost?  The 21st-century culture of instant gratification has led us to a point where we think buying things will solve our problems.

It may soothe your symptoms to get a new outfit, but what is the underlying reason for the purchase? Do you just want to fit into the status quo by dressing a certain way? Do you want to feel valued because someone made you feel worthless?

Deal with your inadequacies properly and don’t try to cover them with things, as that only makes it worse.

If that doesn’t help you decide whether to buy big or not, nothing will. Decisiveness is a virtue, and indecisive people don’t make an impact. Consider this a survey, ask yourself these questions faithfully and before you know it, you’ll know whether to buy or to stand by.