How to Justify Large Purchases

Summary: We want you to be sensible with your purchases.  But sometimes you just need a big one!  (Don’t we all). When is a big purchase justifiable?<br> The topic for this episode came from a listener.<br> How and when do you justify buying big ticket items like a laptop, high-tech camera, or new TV?<br> Kristen<br> Sometimes you really do need a new computer, your current one is dead.  Or you need a car that isn’t in the shop every month costing you money.  Those are legit reasons for big cash outlays.  Wanting a big ass TV when you are in credit card debt has no justification.<br> Put anything expensive on a 30 day list.  If at the end of thirty days, you still want it, than it may be a justifiable purchase. If it’s not something you really need, chances are you will have forgotten all about it by the end of the thirty days.<br> If you’re making a large purchase, see if the seller has a 0% APR card you can open and put the purchase on.  You have to be on top of this though and make certain to pay the entire balance off before the 0% term ends or you will be in a world of shit.<br> Just having the cash for something is not enough justification.  You could invest that money.  Would the thing you want to buy or do make you happy (for more than a few hours) or improve your life?  A great experience counts.  In fact, paying for a great, memorable experience has been proven to provide much longer lasting happiness than buying a thing.<br> Once you have justified your purchase, do your research.  Check out <a href="http://www.reddit.com/r/buyitforlife" target="_blank" rel="noopener">But It For Life</a> on Reddit.  There are threads dedicated to the best of anything you could possibly ever want to buy.  And by best, I don’t necessarily mean the most expensive.  Quality isn’t always linked solely to cost.<br> Sometimes we need to buy things.  Just learn to distinguish between a want and a need.<br>  <br> Show Notes<br> <a href="http://www.youtube.com/watch?v=hgCqz3l33kU" target="_blank" rel="noopener">Motherf**king Bike</a>: A hilarious YouTube video about riding bikes.<br> <a title="Mint" href="https://www.listenmoneymatters.com/go/mint/" target="_blank" rel="noopener">Mint:</a>  The easy way to track your spending.<br> (photo by Anders.Bachmann)<br>