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Do I really need this?

We live in a world where the pressure to spend money is stronger than ever. Everywhere we go, we are surrounded by advertisements. Advertisers have strengthened their ability to make people want something, usually by making us feel like we need it. Sometimes the feelings we get after seeing an ad make it really hard for us to resist impulse buying and prevent us from saving.

Why save if you have enough money to buy everything you want? Well, different people save for different reasons. For your stage of life, you’re likely thinking about a car, a trip with friends, money for college, or an item you really want but can’t afford at the moment.

But what about when the car breaks down, something unexpected happens on your trip with your friends, or the books for college are more than you thought? These things can destroy the cash in your wallet, leaving you empty handed and unable to buy the things you actually need. This is why a savings account is important and giving into the pressures of advertisements is not.

We aren’t saying you should never spend money for fun things you don’t necessarily need, but next time you really want to buy something, ask yourself these questions:
1) Do I really need this?
2) Why do I want it?
3) Will I use it?
4) Will this interfere with my ability to buy things I need?
5) Will this go on sale?
6) Can I get it at a cheaper price somewhere else?

If the item you’re considering isn’t that important, by the time you reach the end of the list of questions, you’ll likely have lost the desire to buy it. Don’t even think about dipping into your savings if you feel bad about spending the cash you have on hand. If you begin using your savings money, it will be gone before you even realize it. 

Recommendation: If you’re serious about saving, put the list in your wallet or purse and anytime you are making a purchase, ask yourself the questions. It will help.

Please Respond: Tell us a time when you resisted buying something you knew you didn’t need.

Don't forget to include your Aware Teens username when you respond so you can be entered to win the monthly points for commenting on the blog!



Posted: 2/26/2013 with 0 comments

Categories: Budgeting, Buying a Car, College, Saving, Spending, Students



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FORUM Credit Union in Indianapolis, Indiana is federally insured by the NCUAFORUM Credit Union in Indianapolis, Indiana is an Equal Housing Opportunity lender
Federally Insured by NCUA