Let’s say you’re in debt and you can’t seem to find any extra money to put towards paying it off. You are trying hard to make ends meet, but you don’t know where all the money goes. Self-control sometimes escapes you, but money is for spending, right? If you can’t keep yourself from splurging, I have a simple solution: quit buying stuff you don’t need.
When we are out shopping at the mall, watching commercials on television or surfing the Internet we come across advertisements or products and suddenly think, “I want that! No, I need that!” You pull out the plastic and before you know it you are the proud owner of the latest what-cha-ma-call-it that is bigger, faster and better that the one you are already had.
You feel great (for about an hour) and then you get the sense of guilt that you quickly push away. “Dang it! Why did I buy that? Oh well, my friends will think I’m cool, right?” And that’s it. Instead of returning the purchase, you head deeper into debt when the money should have been saved to pay off your loans or credit card.
Why not stop this trend and create a new habit in your life to stop the splurges? Just simply think to yourself:
“Would I rather own this or be out of debt?”
Just try to justify that splurge purchase to yourself when you think of it this way. I dare you!
Common, everyday expenses and purchases for a large portion of the population become extremely illogical when you phrase them in this context. Here are some examples:
- Would you rather spending $30 going out to eat at Olive Garden or be free from debt?
- Would you rather have the biggest HD television with the holy moly cable package or pay down your credit card balance?
- Would you rather spend $80 a month on a cell phone data plan or save money for retirement?
- Would you rather own 400 DVD’s and Blu-Rays on your bookshelf or be out of debt?
- Would you rather be addicted to caffeine and buy soda or coffee everyday just to function or be debt free?
- Would you rather have a fancy new car with horrible gas mileage or not have to payback your student loans anymore?
- Would you rather have a house that is too big for you and that you can’t afford the payments on or sell it and live a simpler life in a small apartment?
You don’t have to buy things just because everybody else does. Be different. Live minimally. Quit buying things you don’t need.
Your wallet will thank you.