- Personal Finance
Our Checklist Before Making a Major Purchase
There are certain things we do and questions we ask ourselves before we make any major purchase. This helps prevent us from making an impulse buying decision and helps us get the most for our money.
Do I need this?
This is the first and most important question we ask ourselves. There are many things in life that we would like to buy but we certainly do not need all of them. This does not mean that if the answer is no that we do not buy the item. It just means that we look at the purchase more carefully. When the answer is no, we will look at all areas of our life to see if there is a necessary purchase coming up soon and see if buying what we want will interfere with buying what we need later.
How often will I use this?
Items that we will use frequently are ones we are more likely to buy than those that are only used occasionally. This is always a good question to ask with any purchase because it really makes you think about how useful an item is. If the answer to this one is not often, we will consider more carefully if the item is worth the cost. If the item is fulfilling a specific need that cannot be handled by something else then there is a greater chance that we will buy it.
Is it from a reputable manufacturer?
We always check to see who the manufacturer of an item is. We check for things like how long they have been in business and what their reputation is. We want to make sure that we buy quality items that will not need to be replaced right away. We also want to know that if we have a problem with the item in the future that the manufacturer will be there for us.
What do the reviews say?
We always check the reviews of products that are major purchases. We will look to see what other people’s experience has been with the item. Reviewers that have had the item for awhile are most helpful since they know how well the item lasts and how easy it is to use. There will always be people who do not like an item but if there are recurring problems that show up in many reviews, we are much less likely to buy that item.