WAIT! Before you buy that…

Every time you spend money, you’re making a choice about your future.

Will this purchase bring lasting value to your life, or is it just a fleeting desire? Will it move you closer to financial security, or will it set you back?

Modern marketing doesn’t want you to stop and think about these questions. Brands are masters at making you feel like you need something right now. They use scarcity tactics (“Only a few left!”), false urgency (“Sale ends at midnight!”), and social proof to create a sense of FOMO—fear of missing out. The goal? To get you to spend before you’ve had a chance to consider whether it’s truly worth it.

But here’s the reality: money is a limited resource. The dollars you spend on impulse purchases are dollars you won’t have for the things that truly matter—your savings, your investments, your financial freedom. So, before you make any major purchase, pause and ask yourself: ‘Is this really the best way to spend my money?’

The Five-Question Test Before Any Major Purchase

1. Do I actually need this—or just want it?

Be honest: Is this a necessity, or are you caught up in the excitement of wanting something new?

We live in a culture that encourages upgrades—the newest phone, the latest fashion trends, the fancier car. But before you commit, assess whether this purchase truly adds value to your life.

Try this: If you weren’t influenced by advertising, social media, or peer pressure, would you still buy it?

2. Can I afford it without debt or financial strain?

It’s easy to convince yourself that a large purchase is “worth it” because of financing options or buy-now-pay-later schemes. But debt can be a trap.

A good rule of thumb: If you can’t buy it in cash (or pay off your credit card in full at the end of the month), it may not be the right time. Instead, consider saving up for it and making the purchase when you can do so comfortably.

3. Have I researched my options (and considered alternatives)?

A little patience can lead to big savings. Before making a major purchase, take the time to explore all your options:

• Compare brands, models, and prices – Not all products are created equal. Look at different brands, features, and price points to ensure you're getting the best value for your money.

• Look at online reviews and user experiences – Reading reviews can help you spot potential issues before you buy. Check independent review sites, customer feedback, and product comparisons to make an informed decision.

• Check for upcoming sales, discounts, or second-hand options – Timing your purchase around sales events or shopping second-hand can result in significant savings.

Retailers rely on impulse buys. But when you take the time to research, you increase your chances of getting the best deal—and avoiding buyer’s remorse.

When researching your purchase, don’t just look for the best price—consider whether an alternative solution could save you money while still meeting your needs:

• Buy second-hand – Platforms like Facebook Marketplace, Gumtree, or thrift shops offer quality items for much less.

• Rent or borrow – If you only need something temporarily, renting or borrowing can save money.

• Upgrading instead of replacing – A repair, deep clean, or small DIY fix can make an old item feel new again.

4. What’s the opportunity cost?

Every dollar you spend is a dollar that could be used elsewhere.

For example, spending $3,000 on a new couch might mean delaying a holiday, investing less in your future, or struggling to cover unexpected expenses.

A helpful mindset shift: Instead of just asking, ‘Can I afford this?’, ask, ‘What am I giving up by choosing to buy this?’.

5. Will I regret this in six months?

Think back to past purchases you thought would bring you lasting happiness. Do you still use them? Do you still love them?

A great way to test your decision is to use the ‘30-Day Rule’. If you're considering a major purchase, write it down and wait 30 days. If you still genuinely want and can afford it after a month, it’s more likely to be a worthwhile investment.

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Spending money is inevitable, but how you spend it makes all the difference. Every purchase you make shapes your financial future—either pushing you closer to security and freedom or pulling you further from it.

So next time you’re tempted to splurge, remember: the best financial decisions aren’t made in the heat of the moment. Give yourself time to think, weigh the trade-offs, and make sure your hard-earned money is truly serving your goals. Your future self will thank you.