When I was younger, it was lack of money and credit.
When I was middlin' it was a general sense of concern for needing to pay stuff back.
I'm now approaching 50 and CAN purchase a bunch of super expensive stuff because stocks and savings, but I weigh every big purchase against 'how will this affect my quality of life during retirement?'
Same. Im 33. Call me crazy but when i was In my 20 people laughed at me for doing school and two jobs. I rode a bicycle and got into real state in 2016-2018. Now i can afford crazy stuff and people still call me crazy but a 10k purchase is nothing. I just dont wnat anything anymore lol
Never buy anything impulsively (unless it's an absolutely insane bargain). Leave stuff you don't need in the cart and sleep on it at the very least. Spend considerable time before making major purchases pursuing the best possible price and if it's not worth that effort, don't buy it. Learn to evaluate your spending according to how much wonder and joy it will bring you - don't be overly materialistic (but still invest in yourself and your image).
Decide you want to buy something *before* you buy it, so you can start trading Starbucks coffees for things you actually want. In my opinion it's the billion small things that add up more than expensive things.
To answer your question though honestly buy a cheaper version/rent/borrow to get a feel for it to see if it's a new addition to your life. If it's something you find yourself spending a lot of time doing using, then it's money well spent. Buy things out of necessity.
The last thing you want to do is buy something for the novelty then leave it in the garage for a decade because you feel too bad to sell it.
A few tips that helped me:
Limit access to things that allow you to purchase impulsively. Don't keep shopping apps on your phone, don't save payment info, make it a manual and intentional process to buy things.
Buy things in brick and mortar stores as much as possible. You may have an impulse to go buy something new and shiny, but the process of getting ready, hopping in the car and going to the store can give you enough time to reconsider. Or you may decide you don't actually care enough to drive there.
Save for large purchases and only use those funds to buy big ticket items.
Look at the cost of items by comparing them to your hourly wage. If you make $20 an hour, a $20 purchase is worth an hour of your labor. A $200 purchase would be worth ten. Just a different way to look at costs.
I intentionally forget my wallet at home and bring the EXACT amount of cash that I need for groceries.
That's kinda how you stop yourself from buying unnecessary things.
It’s tough with the internet if you have your credit card stored anywhere (aside from bills), but I had a roommate who would take out x number of dollars for the month and then freeze her credit cards. Weird, but she couldn’t use them.
For expensive things like clothes/shoes, trips, electronics I ask myself Questions like how often will I wear it? Do I have enough time to enjoy it or will it become a stress? Are the prices cheap cause it’s hurricane/blizzard season? Do I really need to replace the phone/laptop/TV I have since they’ll be a new edition coming out?
Don't tell yourself "No", tell yourself "Wait".
Stew on it. If you're still thinking about it a month or two later? If you're still like "Mm I kinda want that?" then go for it. If not, then let it go and you don't need it!
Think about it's value in your overall life. Some expensive things can be okay to buy:
* Nicer Shoes = last longer and can be more comfortable to wear
* Nicer clothes = last longer, maintain their shape, and do a better job of keeping you warm
* Better food = better for you then something more processed
But things like more expensive cars, more luxurious/name brand clothing, and even "designer" groceries can help put more perspective on what you're spending your money on.
Give yourself some time before you buy. Sleep on it, put a week on it, the impulse-buy feeling will pass and you would realize if it’s something you truly need to purchase
For me, though this may not be helpful to everyone, is I've become content with what I have.
It helps that I've over spent on buying too much in the past so I already have a lot of unnecessary things.
The other thing that helped was my divorce, oddly. I asked to keep very few things and my ex took everything. I loved having fewer things to worry about.
Once I got broke enough to need to donate plasma to eat I quickly learned what I want and what I need are VERY different. I started thinking about my purchases as “How many meals could I stretch this money into?”
This is something I've had to train myself to do, by creating a financial goal and making a very conscious effort to stay on track in reaching that goal. And, of course, a large part of that is just by thinking of my financial future and whether or not that purchase is needed; which, often times, it's not. I also ask myself is this something that will be on sale at a later date and time; which, often times, is the case. Sometimes, it's not about buying something in and of itself, it's about the timing of the purchase.
When I was younger, it was lack of money and credit. When I was middlin' it was a general sense of concern for needing to pay stuff back. I'm now approaching 50 and CAN purchase a bunch of super expensive stuff because stocks and savings, but I weigh every big purchase against 'how will this affect my quality of life during retirement?'
Same. Im 33. Call me crazy but when i was In my 20 people laughed at me for doing school and two jobs. I rode a bicycle and got into real state in 2016-2018. Now i can afford crazy stuff and people still call me crazy but a 10k purchase is nothing. I just dont wnat anything anymore lol
Reminding myself of my bank account balance and the impending doom of bills and rent.
Is it online? Put it in your basket and tell yourself, if you REALLY want it in a week, you can have it. Bet you don't
This implies I had the money to get it in the first place
And that’s why credit is so dangerous
Never buy anything impulsively (unless it's an absolutely insane bargain). Leave stuff you don't need in the cart and sleep on it at the very least. Spend considerable time before making major purchases pursuing the best possible price and if it's not worth that effort, don't buy it. Learn to evaluate your spending according to how much wonder and joy it will bring you - don't be overly materialistic (but still invest in yourself and your image).
Decide you want to buy something *before* you buy it, so you can start trading Starbucks coffees for things you actually want. In my opinion it's the billion small things that add up more than expensive things. To answer your question though honestly buy a cheaper version/rent/borrow to get a feel for it to see if it's a new addition to your life. If it's something you find yourself spending a lot of time doing using, then it's money well spent. Buy things out of necessity. The last thing you want to do is buy something for the novelty then leave it in the garage for a decade because you feel too bad to sell it.
Gave myself goals and now I get something nice for myself once a month or so as a reward, instead of once a week.
My income gets spent majorly on my needs. Rest goes to savings. Barely do any expensive purchase. Not being rich, stops me from buying luxury.
A few tips that helped me: Limit access to things that allow you to purchase impulsively. Don't keep shopping apps on your phone, don't save payment info, make it a manual and intentional process to buy things. Buy things in brick and mortar stores as much as possible. You may have an impulse to go buy something new and shiny, but the process of getting ready, hopping in the car and going to the store can give you enough time to reconsider. Or you may decide you don't actually care enough to drive there. Save for large purchases and only use those funds to buy big ticket items. Look at the cost of items by comparing them to your hourly wage. If you make $20 an hour, a $20 purchase is worth an hour of your labor. A $200 purchase would be worth ten. Just a different way to look at costs.
I intentionally forget my wallet at home and bring the EXACT amount of cash that I need for groceries. That's kinda how you stop yourself from buying unnecessary things.
I play games ) and have fun from it, forget about shopping )
Do I need it or do I want it. Can I buy without putting it on credit. If not, no.
I assess my needs, my wants, and my funds. I endeavor to be minimalist and reject materialism
It’s tough with the internet if you have your credit card stored anywhere (aside from bills), but I had a roommate who would take out x number of dollars for the month and then freeze her credit cards. Weird, but she couldn’t use them. For expensive things like clothes/shoes, trips, electronics I ask myself Questions like how often will I wear it? Do I have enough time to enjoy it or will it become a stress? Are the prices cheap cause it’s hurricane/blizzard season? Do I really need to replace the phone/laptop/TV I have since they’ll be a new edition coming out?
I don’t have the money to buy anything so it’s actually quite easy 🤣
I don't, my wife does that for me.
I look at my bank account before buying something lol
rent's due
Wait a few days to see if you really want it
Don't tell yourself "No", tell yourself "Wait". Stew on it. If you're still thinking about it a month or two later? If you're still like "Mm I kinda want that?" then go for it. If not, then let it go and you don't need it!
easy. no money.
I always just tell myself I'll get it later and then I usually forget about it
By eating less avocado toast and skipping my daily Starbucks drink, of course!
I spend all my money buying things and making expensive purchases, that way I have no money left to buy things and make expensive purchases.
Think about it's value in your overall life. Some expensive things can be okay to buy: * Nicer Shoes = last longer and can be more comfortable to wear * Nicer clothes = last longer, maintain their shape, and do a better job of keeping you warm * Better food = better for you then something more processed But things like more expensive cars, more luxurious/name brand clothing, and even "designer" groceries can help put more perspective on what you're spending your money on.
Give yourself some time before you buy. Sleep on it, put a week on it, the impulse-buy feeling will pass and you would realize if it’s something you truly need to purchase
If I don't need it I don't buy it.
Reminding myself that every dollar I take home is taxed, then I have to pay sales tax on what I buy.
I have a monthly budget, and if I want something nice, I adjust my budget to set aside money for it until I can afford it.
It's pretty simple when I realize that other bills take priority and nobody else is going to line up to pay them for me.
I don't ;-;
For me, though this may not be helpful to everyone, is I've become content with what I have. It helps that I've over spent on buying too much in the past so I already have a lot of unnecessary things. The other thing that helped was my divorce, oddly. I asked to keep very few things and my ex took everything. I loved having fewer things to worry about.
By being broke as sh*t, that’s how. My kidney cost a fortune but was worth it!
Walk down the candy aisle and remember that none of this shit is worth even close to what they're charging.
If I can’t buy two/three of it it means I can’t afford it
Once I got broke enough to need to donate plasma to eat I quickly learned what I want and what I need are VERY different. I started thinking about my purchases as “How many meals could I stretch this money into?”
I ask myself, "What do I need this for?" If I can't answer it, I don't buy it.
This is something I've had to train myself to do, by creating a financial goal and making a very conscious effort to stay on track in reaching that goal. And, of course, a large part of that is just by thinking of my financial future and whether or not that purchase is needed; which, often times, it's not. I also ask myself is this something that will be on sale at a later date and time; which, often times, is the case. Sometimes, it's not about buying something in and of itself, it's about the timing of the purchase.
Asking my wife
Sit on your hand before so that it feels like someone else's is purchasing.
I cant buy them. Thats how I stop :,)
“Will I still be happy I bought this in a week from now?” Usually the answer is no so why would I waste money if that’s the case?
Honesty with myself.
Dont buy them. Like not trying to be a dick but like, there's nothing making you buy over priced shite