By Jenny Jiménez on January 21, 2019
Happy MLKJ Monday! If you were off work today then all I have to say is… I’m jealous. ha! Last week was definitely a crazy week. I had so much going on at work at had to finish some painting in my son’s room and building his new bed so after two days of body aches (I’m so out of shape, lol) I had little time to sit down and write my blog. I wanted this one so be a good one so here goes.
Before I get into it, don’t forget to subscribe to my blog below and to the right so you’ll be the first to know when I post! AND follow me on Instagram and Facebook. Don’t procrastinate, go ahead, do it now and get it out of the way 😉
Okay now let’s get to it. With the new year in full gear and Christmas behind us and tax season on it’s way, this felt like the perfect time to touch on Wants vs. Needs. For so many people, Christmas was about wants. I know so many people that focus on the amount of gifts under the tree as opposed to the real need of those gifts under the tree. Quite frankly, were they necessary? As people file for taxes soon and are probably still getting over the debt of Christmas keep the following in mind.
Things to consider when making a purchase:
1. IS IT NECESSARY? Do you really need this purchase or are you just tempted because of how it’s being displayed at the store or online? Does someone you know have it and perhaps you are just trying to keep up with the Joneses? Trying to keep up appearances is tough and stressful. This certainly is not a good reason to buy something. Stay strong and keep moving. If you don’t need it then let it stay at the store.
2. CAN IT WAIT? As time goes by, even a week or so, will you still feel you need this item. Is it worth you making the purchase now? If you can wait a few days minimum for this item and will still want it then maybe, just maybe it’s okay to consider purchasing. Usually a little time will help us to be in a stable, better state of mind. More rational and realistic about what it is that we want to buy.
3. HOW WILL IT IMPROVE YOUR LIFE? It’s very rare for purchased items to impact our lives. Unless of course it is a need, like a microwave or refrigerator (assuming your current one is broken). If you could only see my raised eyebrow. LOL These types of purchases generally require a bit of planning because they are usually pretty pricey. Please don’t go out and buy a large ticket item without doing your homework first, that is a HUGE NO NO!
4. CAN YOU AFFORD IT? It’s not worth going into debt, let alone for something you do not need. Often when we make impulsive buys it’s not something we really needed. It is most likely a wasteful purchase. This will be the item that stays in the box. That ‘thing’ that five years later you come across while cleaning your basement or garage and say Wow I completely forgot I even had this. If you’re not going to use it right away, then chances are you do not need it. Keep your money in the bank!
5. WILL YOU REGRET THE PURCHASE OVER TIME? I’m guilty of this one here. I cannot tell you how many times, especially clothes or handbags, I’ve purchased over the years only to end up giving them away or donating because I had no real use for it. I’m pretty good now and rarely make impulse buys. My wallet is glued to me. At this stage in life you’d need the jaws of life to pry it away. Avoid the guilt and just don’t buy. We work so hard for our money to just throw it away on these pointless items.
Remember make smarter purchases – your future self will thank you for it.
I really hope you will consider these five things when making purchases this year. Financial Wellness is something that everyone needs and once they learn how to handle their money, many of the stresses (at least related to money) will stop being a concern.
Lets make 2019 the year you get your accounts in order!
If you receive an income tax refund this year, remember to be mindful of your spending. Don’t blow it off right away. We’re just in the beginning of the year and when you’re broke, the year can feel a lot longer than 365 days. Take it from someone who knows what that has felt like before.
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Hold on to that money! See you next week 🙂
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