6 Questions Frugal People Ask Themselves Before Buying Anything That Save Them A Ton Of Money Over Time
If you have an impulse buying problem, this is the advice for you.
RgStudio | Getty Images Signature | Canva Pro It has never been easier to overspend. Not only are we constantly marketed to, even in supposedly private places like our email boxes, but social media has made shopping so seamlessly easy that it doesn't even take any effort anymore to buy stuff you'd normally think twice about. Removing the opportunity to "think twice" is the entire business model, of course. So how can you fight against this constantly churning money burner of a system? Mental health and money experts say it all comes down to asking a few pointed questions before clicking "buy."
The struggle is, in fact, very, very real: A recent survey found that a bit more than 12% of Americans have spent $5,000 or MORE in a single day on online impulse buys. That is a staggering amount of money and stuff! Most of which you probably don't even want that bad by the time it hits your doorstep! But between constantly comparing ourselves to others on social media and how easy apps like Instagram make it to spend huge sums on Madonna-themed coffee mugs and candles that are supposed to smell like the moment Teresa Giudice flipped a table on "The Real Housewives of New Jersey," like a certain bad-with-money writer I know (me, he is me), it can be really hard to avoid the pull.
According to experts Aja Evans, a therapist, and Brian Vines, a reporter with Consumer Reports, it all comes down to asking yourself a handful of questions that help disrupt the pattern of reflexive spending and replace it with thoughtful, realistic considerations about needs vs wants and, perhaps most importantly, your actual financial situation. Here are those questions.
1. Can you actually afford it?
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This may seem like a no-brainer, but here's a hard truth most don't understand: Being able to pay for something and being able to AFFORD something are two very different things. If you don't have the budget for the thing, and especially if you have to dip into savings to cover the cost, you should probably skip it.
Many finance experts also suggest actually working things like impulse buys (as well as a social life and other "extras") into your budget. This not only helps you not overspend, but also helps you not feel deprived, so you actually stick to your budget.
2. Are you spending emotionally?
Many finance experts suggest implementing a 24-hour "cooling-off period" before buying anything for this reason. Often, we're spending simply to feel something, especially in our difficult times. There's a reason "sleep on it" is a common phrase.
Giving yourself that buffer of time quite literally helps your brain sort through the emotions and impulses you're feeling. You'll probably feel a lot clearer about all those TikTok Shop trinkets in the morning.
3. Is the purchase part of a pattern?
Speaking to NPR, Evans said that many overspenders have very clear habits. She used going to garage sales as an example. If your spending follows patterns like this, she suggested stepping back and asking yourself what might be behind the well-worn pattern of spending in this manner. It may uncover some bigger issue you're trying, ineffectively, to solve by shopping.
4. Are you trying to show off for others?
Keeping up with the Joneses comes for us all eventually, and it's even easier these days. With social media constantly showing us glamorous images of other people's lives, it's easy to fall into the trap of buying things to impress people. But most of the time, it doesn't even succeed, and even when it does, it doesn't usually make us feel better. Digging deeper into why you feel the need to do so before clicking "buy" might just make you realize you don't need the thing after all.
5. Should you do some research first?
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This is where Vines of Consumer Reports comes in. Often a product SOUNDS really good, but once you dig into reviews and expert analysis you find that practically everyone who bought the thing hates it. Or, some expert says it's low-quality or even dangerous. Now you've already bought that garbage mattress or death-trap bookshelf, and it's on the way to your house.
Taking time to do your due diligence will not only give you a chance to rethink the purchase entirely, but if it is indeed something you truly want or need, it can save you tons of money in the long run by saving you from shelling out good money on bad merchandise. We've all been there.
6. Is it really what you want?
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Often, we settle for something less than what we want because it's cheaper, and it ends up being so unsatisfying or of low quality that we end up going back and buying the thing we really wanted anyway. Now you've bought two of the things and spent tons of money.
This happened to me a couple years ago with a coffee grinder. What I wanted was the current model, but the one-year-expired model was on clearance. They were basically the same except for the key feature I wanted, of course. So I bought the clearance model. Lo and behold, it broke the SECOND time I used it, which is probably why it was redesigned into the one I wanted in the first place!
Vines used food as an example to illustrate this kind of foolhardy choice: "I'm not going to take … a slice of tiramisu when I want one doughnut," he told NPR. "If it's not what you want, walk away." Sound advice, for both your mind and your wallet.
John Sundholm is a writer, editor, and video personality with 20 years of experience in media and entertainment. He covers culture, mental health, and human interest topics.
