We all know the rule to be a thoughtful buyer: if you see something you want to buy while you’re going to grab your groceries or just buy a salt grinder for your mom, don’t buy it yet. Go home, think about it, sleep on it, and two weeks later, it’s still on your mind. Let’s buy it.
But what if it’s on sale? What if it’s your last chance? There is no time for a two-week thought.
As consumers, we often face impulsive buying decisions, especially when there are sales and promotions happening around us. But, it's important to be a thoughtful buyer and ask yourself the right questions before making a purchase. Especially in this critical time, buying what you need at the right time should always be on top of mind to fight inflation.
So, let’s try these 5 essential questions that you should ask yourself to make sure you're making a wise and sustainable purchase decision.
Before making a purchase, ask yourself whether you really need the product or you just want it.
Something you want and something you need are two totally different things. They may be one sometime, but that’s when you know you have to buy it. Needs are necessary to live and function. Wants are nice to have, something you wish to have just because it makes you feel happy, I.e., something makes your room looks nicer.
If the product fulfills a need and is affordable, go ahead and buy it. But if it's just a want, consider if it's worth spending your money on.
“Yes. I really want it, it’s perfect for my life. I might use it later. I have been looking for it for a very long time.
”If there are a million reasons to buy it, even though it might not be the best deal. Then go ahead. There’s nothing really holding you back now, isn’t it? In this case, it might also suggest you need something more than you think.
But if you are unwilling to pay for it at a higher price at this particular moment, there is a high chance you just get attracted to sales and discounts. We often end up buying something just because it's on sale. Before making a purchase, ask yourself if you'd still buy the product even if it wasn't on sale. If you have a genuine need for the product and it adds value to your life, then it's worth buying.
Sometimes when you pay for high-quality, high-priced products, you might feel bad for spending too much. But let’s think about the long run, you might use it every day, for 5 years, even 10 years, and it adds incredible value to your life. Investing in the best product might cost you more upfront, but it's often worth it, after all. You pay for something sustainable and durable, so you don’t have to find an alternative or replace it anytime soon. What a worthwhile investment!
Before making a purchase, consider whether the product will last you a long time and add value to your life. If it does, then it's worth investing in. But you might think twice if it’s just for a day or two and you can’t use it for multiple purposes or occasions. Again, the key is to spend on quality, not spending more.
Sometimes, we tend to overlook alternative options that might serve our purpose just as well. You are looking for a shoe rack. Then what are some alternatives to shoe racks?
Maybe you will have some thoughts like, “Leaving my shoes under the clothing rack is not a bad idea. I could put them in the storage room near the door and take them out when I go outside.
”You can find solutions to most of the problems without buying something new in many ways, so you can save money with your personal budget. Therefore, before making a purchase, consider if there are any alternative ways to fulfill your need without having to buy something new. This way, you can save money and make a more sustainable choice.
If it is a must-have, consider whether there is a better price for this item. For example, does Kmart offer the same shoe rack for $3 less than this place? Is there a sale happening in Target? Someone is selling it at half price on Facebook Marketplace, quickly have a look. Before making a purchase, it's always a good idea to compare prices across different stores and websites.
Use price comparison sites or apps to check if there are any better deals available, or check for a price drop with Fetchie. This way, you can make sure you're getting the best value for your money.
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Asking these 5 essential questions can help you make a more informed and sustainable purchase decision. By being a thoughtful buyer, you can avoid impulsive purchases, save money, and make choices that align with your values and needs.
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