Sunday, January 31, 2021

Good Value or Poor Value

 My family often goes shopping for different products including clothing, food and small appliances.

When is something a good value and when is it a poor value. My wife often likes to purchase things she thinks she will need in the future. Many times we use the item but as time goes on some of the things that are purchased are never used. End result, the items she has purchased that are never used are a poor value. Just because something is on sale it is not a bargain if you do not use it. It becomes a waste of hard earned money. Before you purchase something that is on sale be sure that you really need it. I can look in my garage and a spare room that we have in our home. There are many things that we have collected over the years that we do not need and the items were used very few times. My suggestion is when you are thinking about purchasing something make a list of the reasons why you need the item. Then make a list of reasons not to purchase the item. The reasons you put on either list is anything that comes to mind. Go hog wild with your reasons. When you get done count the number of reasons on each list. I give everything on the list to purchase 1 point. Every reason on the list to not purchase an item gets 2 points. If the list not to purchase has more points then we do not purchase the item. Another method is to wait for a day and see if you still need the item. If you still think you need the item, wait 2 more days. On the 3rd day if you still need the item the wait 3 more days. If you can say you still need the item then go ahead and purchase it. One caveat, be sure that you do not use credit to purchase the item. Only use cash. This way you do not incur debt. Our plan to control our money is to avoid debt