In 2008, it was the Christian Louboutin Goya shoes. They were $945 when they came out, but I had a "hook up" where I could get it for $750. At the time and even at that price, it was $100 shy of my monthly rent and nearly four student loan payments, but I didn't care. I wanted those shoes. I ended up putting the money into my online banking account, where it was less accessible. Since then, I've earned $75 in interest.
The Idea: For major purchases, determine whether it is a want or a need. If it's a want, consider the following questions:
- Will making this purchase keep me on track to meet the three financial goals I set for myself this year?
- Is this a temporary satisfaction or will it benefit my long-term financial future?
- What do I have to give up to purchase this item?
1 comment:
These are extremely good questions to ask oneself...for more than just helping reach financial goals!! They also work (with slight editing)for choosing healthy foods and working toward weight loss or better overall health!!
thanks Deb!!
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