Four Questions to Ask Before You Spend

Money Tip: Ask These Four Questions Before You Spend

September 8, 2008

Besides calculating the cost in terms of hourly compensation to judge whether or not a particular item is worth your time and money, there are some other things to keep in mind. Here are four questions to ask yourself when you're staring in the dressing-room mirror or gaggling over a gadget.

Do I love it? Make a list of your own mental must haves. Ask yourself if the item you're eyeing deserves a spot on that list.
How often would I wear or use it? Cost-per-use is a good way to break down how valuable the item will be to you.
Can I afford it? Do you have expenses coming up and are you concerned about being able to make payments? Consider your spending priorities.
Could I find it cheaper somewhere else? If yes, it might be worth your time to search for that better deal.

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16 Comments

aimeeb 4 years 36 weeks

I am really good at this. I know waaaaaaaaaaay too many people who are frivulous.

thelorax 4 years 36 weeks

Point being: I'll probably let him splurge on a gorgeous LG fridge (a gadget I'VE been lusting after) rather than going with something "sensible" like Whirlpool. We shall see...

thelorax 4 years 36 weeks

My husband is being forced (by me) to consider cost-per-use of new gadgets he's lusting after. He pleasantly surprised me this morning with a phone call reporting on the projected cost SAVINGS if we replace our antiquated home appliances with energy/water-efficient new ones, accounting for rebates offered by our energy and water providers. I'm so proud :-D

bluebird 4 years 36 weeks

I actually asked myself these questions this past weekend, and STILL bought an expensive pair of jeans that I am going to take back this next weekend... I can't justify spending $75 on jeans unless I L*O*V*E them!

ilanac13 4 years 36 weeks

i think that i do all of those - and then the other question that i have is whether people will notice it and comment favorably on it - cause that's really important sometimes. :) not to say that i'm about labels and all that -but sometimes it's nice to have people notice that you have nice things or comment that they'd like it as well.

SugarKat 4 years 36 weeks

I almost always ask these questions, but some are weighted. For example if I love it and I'm looking for a dress for a special occasion I think; 90% Do I love it?5% Can I afford it?5% Can I find it somewhere else?That's when CPU is NA. However, when I'm buying jeans or shoes CPU is really high and I use that to justify buying a better lasting brand.

SugarKat 4 years 36 weeks

I almost always ask these questions, but some are weighted. For example if I love it and I'm looking for a dress for a special occasion I think; 90% Do I love it? 5% Can I afford it? 5% Can I find it somewhere else? That's when CPU is NA. However, when I'm buying jeans or shoes CPU is really high and I use that to justify buying a better lasting brand.

karisaamy 4 years 36 weeks

I always think in cost/use

karisaamy 4 years 36 weeks

I always think in cost/use

tcd4ever 4 years 36 weeks

Those are good questions.

tcd4ever 4 years 36 weeks

Those are good questions.

g1amourpuss 4 years 36 weeks

That last question is so important.. Can I find something of lesser value (and VERY similar) at equal quality for me..?The 2nd question is really good, but sometimes there are things that I need to purchase that won't be used as often, but like necessities for my wardrobe.. or my husband or daughter's or things the family. (Special occasion items, things for the kitchen that we need maybe 3-5 times a year for family gatherings...stuff like that.)The Do I Love It question is the best. I need to start asking myself that, rather than buying b.s. when I think I need it.

g1amourpuss 4 years 36 weeks

That last question is so important.. Can I find something of lesser value (and VERY similar) at equal quality for me..? The 2nd question is really good, but sometimes there are things that I need to purchase that won't be used as often, but like necessities for my wardrobe.. or my husband or daughter's or things the family. (Special occasion items, things for the kitchen that we need maybe 3-5 times a year for family gatherings...stuff like that.) The Do I Love It question is the best. I need to start asking myself that, rather than buying b.s. when I think I need it.