The past year, our family has made simple changes to spend less and save more. We’ve become more frugal and more intentional about our spending and our savings. At the same time, it can be hard to separate needs from wants. It is hard to pull the emotions out of spending. After all, spending is fun! It gives us a rush, a feeling of accomplishment, a high. This is true for us and for our kids.
What has helped us is using this simple chart,“Should I Buy It?” We hope you find it helpful, too! (Tip: You can download the PDF here – for free!.)
The 5 Questions
To summarize, here are the five questions to ask when wondering if you should really buy it.
1. Do We Really Need It? (Will it increase our happiness, solve a problem, or improve my life?)
If no, don’t buy it.
If Yes…
2. Can I make it, build it, or find it for free on Buy Nothing or Craigslist?
If yes, “buy” it!
If no…
3. Can I afford it?
If no, don’t buy it. Save for it.
If yes…
4. Can I find it at a discounted price through Craigslist, garage sales, closeouts, coupons, generic products, etc.?
If yes, buy it!
If no…
5. Is it worth it to buy it at full price?
If no, don’t buy it. Wait to find it at a discounted price.
If yes, buy it!
And remember…
“It’s not a good deal if you don’t need it!”
What a great chart! Thanks for sharing it.
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Thanks for the feedback, Taylor! Let us know if there are other topics or resources that would be helpful!
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I.
Love.
This.
-Derek
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Thanks!
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This is great! It simplifies the process and makes you really think about what you’re considering purchasing.
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Thanks, Haley! Glad you found it helpful, too.
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I am extremely frugal by nature, it’s just the way I was raised. So when I buy something, is because I absolutely needed it, or love it…. Then, unless it is something I need as an emergency, I’ll wait for a sale price, or a discounted price online.
Great post!
Joyful Savings recently posted: Why Should Everyone Have a Budget! [Download Your FREE Budget Template]
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Thanks, Jacky! Great resources on your site, as well.
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Love the flowchart! I try to go through at least some of these steps, but I know I don’t always hit them all. I’m way too quick to pull the trigger instead of wait for a sale once I’ve decided to buy.
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Thanks, Emily! Sometimes I pull the trigger soon, too — especially if it time-sensitive 🙂
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Fantastic! This chart should be on the refrigerator door of every family in America whether they’re frugal, or not!
– Kristi Kirk trent, Oklahoma City
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Thanks Kristi!
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