October 30, 2010

Tip of the day—Be calculated with your big purchases

Earlier in the week, I wrote a post about discerning needs vs wants.  Today I’ll give you an example a friend told me  this week that reinforces the importance of calculating your purchases.

A close friend has been wanting to buy new dining room chairs for about 10 years now.  Yes, you read that correctly 10 years.  She looked around to see what would best fit her decor and needs.  She waited until she had money saved so that she would pay for it with cash rather than put it on a credit card.  This not only eliminated the possibility of debt but it also saved her money on the purchase because no interest was involved.  She waited until the chairs she wanted were on sale AND she had a store coupon of 10%.  If she had been impulsive with her purchase it might have cost her hundreds of dollars more and she might still not have what she really wanted. 

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