Four Questions to Ask Before Buying Anything (Episode 195)

Updated: May 16, 2024

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What you’ll hear in this episode:

Impulsive buying can leave you with buyer’s remorse and a ruined budget. In this episode, I’m giving you a practical strategy that will help you make better spending decisions and save more money.

Specifically, you’ll learn about The Four-Way Test of Spending:

  • Do I really need it?
  • Do I need it now?
  • Is there a substitute or can I borrow it?
  • Have I found the best value for my money?

Excerpts and Highlights

Often, desires or cravings go away after a few days or weeks. What you thought to be a “must-have” can become a simple “nice-to-have” or maybe even a “never-mind” if you give yourself time to think about the item.

Impulse purchases are emotional purchases. Taking a pause to ask these questions allows your mind to focus and think logically, especially if you’re buying a non-essential item that costs a lot of money.

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