Ask yourself these four questions:
- Do I really need it?
- If yes, can I afford to pay for it with cash?
- If so, do I already own an equivalent item?
- If I don’t own any such item, have I shopped around for the lowest priced item?
If you have a satisfactory answer for all questions, give yourself another 24 hours before making the purchase. You may end up not making the purchase at all and, thus, save yourself some money. Try asking yourself these questions on your next shopping trip. The more you can prevent instances of impulse shopping, the more money you will find in your wallet over time.
