My Family’s Money

Wouldn’t you find a woman wearing these precious earrings simply irresistible? I know I would. But like most things that make someone absolutely irresistible, these earing cost some dough. I’m not exactly sure how much, but anything with that type of sex appeal is worth at least 100x what any comparable set of earrings would cost. That means these little puppies would run me anywhere between $599 and $999 – I simply don’t have that in our clothing budget. So, in light of my family’s commitment to live debt free, we either have to save up to buy these masterpieces of femininity or pass the opportunity by.

Some outspoken husband might say, “You crazy dolt, how could you give up this chance to woo such a beautiful and lovely woman as your wife with these magnificent pieces of art? If you wait too long someone might swoop in a buy them first! Buy them now.” I can completely understand this husband’s line of thinking. But here are a few good reasons to wait to buy big ticket items in general:

1. … to think about your purchase – not every big ticket item you purchase will add as much quality to your life as a nice pair of monkey earrings. Time becomes important in helping you evaluate the level of your actual need for the item in question. Waiting a month, or two, or three, will Abre los ojos and help you see just how (un)well you can live life without the item in question. Potential Savings: entire purchase price
2. … to research the best products – not every widget is made equal. Some manufacturers actually make better items than their competitors while charging comparable prices, but you won’t know that unless you research and researching takes time. Potential Savings: prevents having to buy another crappy product next year
3. … to shop around for the best deal – not every retailer thinks a product is worth the same amount. While you find out what product is best you can also spend time looking for which retailer has got the best item for the cheapest. There are some good resources out there that watch out for great deals (slickdeals) so you don’t have to. Take advantage of the shopping around that others have done and save yourself some bucks. Potential Savings: tens of dollars to hundreds of dollars
4. … to earn money on your purchase – interest rates can finally work in your favor. Saving $200 a month for a $1000 laptop would have you racking in a grand total of $9.87 over a 5 month period with an APY of 4%. While that may not be that much in the grand scheme of things, it does represent a 1% discount on the item that you purchased. That is just like using a cash back credit card that gives 1% cash back. Potential Savings: dollars to hundreds of dollars

Embrace your inner tightwad and save up to buy your big purchases. The potential for reducing the cost of your item while increasing its quality is significant and if you want to turn those savings into a better life for a child living in a refugee camp in Uganda, kudos to you!