Questions to Ask Yourself Before Spending!

Whether you agree or not, money is very hard to earn yet it is also very easy to spend. Money vanishes like thin air because everything just keeps getting expensive as time passes by. Because of the high inflation rate, what might be cheap before became a little costly now. And if you don't know how to manage your money wisely, you will end up acquiring debts just so you can purchase your needs for daily survival.

I have read somewhere before that if you keep on purchasing the things you want instead of prioritizing buying the things you need, you will have to sell the stuff you want just so you can afford your needs. I am somehow guilty of this because sometimes, I become a little impulsive buyer who pays for stuff that I don't really need, which means I am spending money for worthless wants.

If we don't have good money-handling habits, it will be hard for us to save some cash that we might need in the future, like fulfilling our dreams and goals in life, or money that we can use in case of emergency or unfortunate events.

In this article, I am going to share with you some of the questions you should ask yourself before spending.

These are the questions I ask personally ask myself before making any purchase decision to help me make more sound conclusions with my purchase behavior.

Since I am planning to buy a new mobile phone or laptop this coming December as a gift to myself, I'll just use it as an example and share some of the questions I ask myself before buying a new one.

Question 1: "Do I really need it?"

We all know that mobile phones or laptops are now a need, not some type of luxury product or a "want" a person should purchase because we can use them every day, especially for a student like me who is having classes online, and also I can use it for work or business purposes. However, I still ask this question to myself because I already have a good phone that still works just fine and an old laptop that is still functioning and buying a new one is not so practical. However, because I'm planning to buy a phone/laptop as a gift for myself, I think it is still a good purchasing decision to buy one because it's a "Need" and some sort of a long-term investment that I can use to earn some money.

Question 2: "Can I really afford it?"

Before I buy anything, I ask myself this important question.

"Can I really afford this?"

As simple as it sounds, this is the best way to stop me to make an unnecessary purchase. Because if I want to buy something, but I am broke, then I won't be able to buy it. Just like what they say,

"If you can't pay it in cash, then you can't afford it."

It's not practical to buy something on credit or acquiring debt.

As for me, before buying a new phone or laptop, I should make sure that there is a budget allotted to it, and that I actually saved for it. If none, then I still have to save money before I can buy it.

Question 3: Is it worth my money?

There is a new popular phone that I have been seeing on Facebook, and I am tempted to buy it. But when I check the price, I get to ask myself,

"Is it worth my money?"

I am the kind of person who doesn't want to spend money on unworthy products, and when I buy something, I make sure that every penny that was spent will be put to good use.

I don't know if this is just me, but buying an iPhone or Macbook is not so practical. I'd rather buy an android phone or a cheaper brand of laptop that gives the same benefits. (Don't mind this part. I just really can't afford it. Hahaha! 🤣)

Question 4: How can I buy it at a cheaper price?

I know when buying a new phone, we want to buy a brand new one. But for me, as part of my saving strategy, I buy a second-hand phone that still looks like a brand new mobile phone. I bought my old phone Oppo F5, which is now a backup phone, at a cheaper price compared to if I bought it at its mall price. It's been almost 4 years and it still works just fine. I did the same thing when I bought the phone I am currently using and it's been serving its purpose for 1 year and 4 months now.

Others might think it looks cheap to buy a second-hand phone, but hey, that's how I get to save money, and the usage of the phone is just the same as the phone I will buy at the mall. It's not being cheap, it's about being practical. Hahaha! 😹

That's it! These are the main questions I usually ask myself before spending money, or before I buy something.

I am an Ilocana and people label us as "kuripot" (stingy) but it's not totally true. We actually just know how to spend our money wisely because money is hard to earn. We make sure that every penny we have is spent to good use.

It's okay to buy the things you want once in a while because money is just a tool that is supposed to be spent anyway. But make sure to prioritize your needs and save up for your future self too.