Money Saving Tip for How to Spend Less

Here's a piece from Yahoo on how to spend less. The article also addresses how you can be happy while doing it. But what I liked the best was this money saving tip that was embedded deep in the article:

Bottom line: Before you buy anything, ask: Do I truly value this? By making value-driven decisions, saving will be become a regular part of your life.

This is similar to the two day rule I wrote about last July. I can attest that it really works.

When I want/need something, I record it on a list in my Palm and forget it until I go shopping. When I know I'm headed out, I look at the list and decide what I will buy that day. About 50% of the time, I find that I really don't need everything on my list and I delete an item or two. I've probably saved thousands of dollars using this system.

I've also tried the tip noted in the article above, but it doesn't work as well for me. When I'm in the store, have the item in my hand, and I ask myself if I need it, the answer is almost always "yes." It's not that it never works -- I have used it successfully before -- but it's not as good as the two day rule for me.

What about you? Does either of these keep you from buying things you really don't need? Or do you have another system that does?

Comments

[twins15]

I usually go with the 2-day rule as well (or some variation, sometimes it only takes one day). It stops me from buying things I'd use for only a short time. I'm a big fan.

[William Tanksley]

Is it possible that you misread the article? The suggestion wasn't to ask yourself "Do I really need this," which is a too-strict question leading either to the life of a hermit or imaginative interpretation; but rather "do I really value this," a much less easily dodged question, and one inviting more introspection.

I'm not asking whether I could survive without the thing; I'm asking whether the other things I'd have to give up are worth more to me.

-Billy

[Amanda]

Yes - but sometimes even when you may value something in the long run, doesn't mean you should or can afford it now. For instance, I very much wanted a new pair of leather boots last fall. I know that I would have gotten a lot of wear out of them for at least a couple of years. But did I need them? No. I actually never bought them, and has my life been any less happy because of it? Again, no.