Using Cash and Delaying the Purchase

count your money

The hardest thing when differentiating between needs and wants is viewing the benefit of the things that we are going to purchase. If we can clearly see the benefit, we can judge it right away that the purchase we are going to do are necessary, not an impulsive buying.

The bad things is when we really want something badly, our judgment become blind to view the benefit objectively. This happen to me very often, especially with books. To prevent it growing into a bad habits, i have a couple of routines that i usually do to monitor my monthly spending allowance

  • use cash
  • and the other is delaying the purchase

use cash

I can’t tell you how much i saved my money by using cash but let me explain how it goes, if we have a commitment in using cash for buying things, we have to prepare money in advance for spending. The amount money in your wallet is fixed so you can’t over budget using cash. If the cash in the wallet is thin, i usually have to go trough 2 choice, going to nearest ATM or ask my wife. Making the process of taking money longer sometimes could turn off impulsive buying in my case and the most positive thing in using cash is that we can aware the amount money we use.

The other one is delaying the purchase, this is my golden rule in buying expensive stuff. When i was confuse in choosing two item, i choose to delay the purchase a week or a month, rethink it again in another day, if i still remember it after a couple days couldn’t get over it, rethink the day to day useful of the item, ask ourselves if this item could encourage our line of work, could this item boost up our productivity or is there an alternative beside buying this item. If it’s an impulsive buying our conscience will tells it or the passion in buying will fade away.

I’m not saying that buying the things that we want is bad, i even encourage it if there’s a budget in spending it, buying the things that we want could motivate us further in doing what we do. It fulfilled our self actualization needs and the thing that we want could become the source of our creativity in working.

What i thinks is unhealthy is the impulsive buying that leads to debt. Spending more that you have. Just a couple of weeks ago i’ve gone eating with my friends. By looking at their jobs and lifestyle i know that they overspend their monthly allowance. While we are eating together after shopping, she even said that she had to use credit card again for her daily expenses, because she literally doesn’t have any money until next month paycheck.

I was sad seeing that kind of situation, i told her to budget their expenses, but i know that my advice doesn’t get through to her because its the second time i hear her complaint about day to day expenses. I’m not trying to interfere with other people’s business, but i’ve seen to many of my friends and relatives buried themselves in debts. Slowly but sure, their daily life becoming like a robot, working just to pay debt, day after day, month after month.

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