Thursday, July 30, 2015

Impulse Buying

From the Get Rich Slowly blog, I found the following list of questions to use on yourself to avoid impulse buying.

1. When will I use this?
2. Do I have another one like this already?
3. If I buy this, where will I put it?
4. If I buy this, can I pay cash?
5. Can I buy a good-quality, used version for less?
6. Do I know somebody who already owns one I can borrow?
7. Can I wait to buy this?
8. Why do I want to buy this?
9. Are there better options available?
10. What would my wife say if I bought this?

Great list, and I use some of these questions, myself.

1. This tends to ward off the "ooh pretty!" factor. I've always wanted a pair of snakeskin cowboy boots, just because they look so cool. I've never spent the money on them, though, because the number of times I'd wear them in my life is below trivial. They used to be mandatory wear for corporate VPs at a company I formerly worked for and owning them back then might have gotten me recognition, promotion, or respect, but I find cowboy boots extremely uncomfortable with my wide, ducklike feet, and I don't wear dress up clothes more than once or twice a decade.

2. This is a real kicker for me. It's why I have a monster card catalog of my books. I should have one for all my tools and gadgets, too, but it's way too much work to create. Failing to bring my card catalog along to bookstores these days keeps me from buying anything I'm not absolutely certain I don't already own, but it didn't used to be that way - I'd just take a chance.

3. I'll put in the garage, most likely. That's where most of my junk ends up.

4. Who carries cash any more?

5. Well, duh.

6. This one is great. I've managed to talk myself out of buying a pneumatic nail gun several times, as my neighbor, Dan, has a couple I can borrow any time. Same thing with a furniture dolly and my neighbor, Paul. I have another neighbor across the street who is a general contractor, so he's got all the tools, too. Sometimes, though, there's an immediate need for something and you can't wait for the person who owns one to get home. I'm always loaning out tools to people I know, too, so it all comes around.

7. This is one use for creative procrastination. At times, though, it leaves me scrambling around at the last minute before a trip or some other deadline, when I determine that I really do need it...NOW!

8. Aside from books, most of the things I buy have some rational basis in need.

9. You're talking about a guy who suffers from analysis paralysis here, so if there's a better option, you can bet I've researched it endlessly.

10. Usually, "just buy the darned thing!"

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