I always ask myself "is this product going to serve me and for how long"? I've spent a lot of money on items in the past, that broke almost immediately, and didn't serve it's purpose well. It honestly made me feel sad when it broke or didn't work because I spent good hard-earned money on it.
OMG - "how many hours would I have to work to earn this" has worked wonders for me!! Sometimes it's like "yes, 4 hours for this coat, 100% yes!!" versus "nope. half an hour for this little do-dad? not worth it." Great video, @FinanceRox!
I'm really bad with impulse shopping. Its probably my worst money habit, I get too enamored with the new shiny thing and don't go through a process like this anywhere near enough in my head lol
Having a "Procrastination List" is a great idea - I've heard the concept of waiting at least 30 days prior to making a large purchase - but a Procrastination List is a GREAT idea. Thanks for sharing, Rox! Great, great video!!!
Thanks Tasha! I LOVE my purchase procrastination list! Yes I think it ends up being a real game changer for people. How long do you usually wait before buying things? I'm guessing because you budget pretty closely that you wait until your next budget cycle too?
Other random tip: I know this sounds weird but I sometimes will walk around target or the mall to just window shop and buy nothing to get out the feeling of buying something. For whatever reason it works, guess it’s just some weird psychological thing that helps me to spend less
Interesting! It probably requires a lot of discipline to go shopping when you feel like buying things but then not buy anything (subjecting yourself to temptation). It makes perfect sense tho if you enjoy the atmosphere of the stores you shop at, because that would be a way to still enjoy the ambiance. I've done the window shopping thing with friends who invited me shopping. "Are you really not going to buy anything?" is a question I've gotten on more than one occasion!
All great questions Rox. I'll admit I don't search for deals but I always factor in the hours worked when purchasing impulse items or services. I have limited space so I try not to buy items that don't have space or function in my home.
Hey Dee! I suppose I don't look for deals all the time, really just for the more expensive items. My space is cluttered up as it is so that question brings me down to the realization that I should be de-cluttering not re-cluttering! Thanks for sharing!
Thank you!! I have been slacking off on asking any questions lol but two more I like are: 1. I try to avoid looking at the price and then ask myself “how much is this worth to me?” Then if I check the price and it’s over, it’s a no 2. Can I get this second-hand?
Hey Wren! Oh my gosh I LOVE these questions! I will have to try the "how much is this worth to me". And the second hand question is a gamer changer. Thanks for sharing! 😀
Hello ichra7com darija! I actually do have a blog (FinanceRox.com) but am working on updating the theme so I haven't posted there lately. I do plan to do exactly what you recommended!
Food is tough...it's so easy to justify spending since it's required for existence and our brains are so insistent about it. What do you think has helped you get better about impulse spending?
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FOR THE CHAT:
👉Do you use these questions when shopping?
👉What questions do you ask yourself when you are shopping?
I always ask myself "is this product going to serve me and for how long"? I've spent a lot of money on items in the past, that broke almost immediately, and didn't serve it's purpose well. It honestly made me feel sad when it broke or didn't work because I spent good hard-earned money on it.
@@MindYourMoney oh love the addition of "and for how long"! I'm sure thinking about the longevity of value helps for better decision-making 👏👏👏
Good video here...I'm just browsing the video catalog. Cooling off period is real. Lol.
Thanks! Yes cooling off period is game changing!
OMG - "how many hours would I have to work to earn this" has worked wonders for me!! Sometimes it's like "yes, 4 hours for this coat, 100% yes!!" versus "nope. half an hour for this little do-dad? not worth it." Great video, @FinanceRox!
I knew that question would be a favorite! I don't know why that one doesn't resonate with me, maybe I should give it another try. Thanks for sharing!
Eating out is always our vice.
🍕🍔🌮🥠 same!
I'm really bad with impulse shopping. Its probably my worst money habit, I get too enamored with the new shiny thing and don't go through a process like this anywhere near enough in my head lol
Ah yes, the struggle is real!
Having a "Procrastination List" is a great idea - I've heard the concept of waiting at least 30 days prior to making a large purchase - but a Procrastination List is a GREAT idea. Thanks for sharing, Rox! Great, great video!!!
Thanks Tasha! I LOVE my purchase procrastination list! Yes I think it ends up being a real game changer for people. How long do you usually wait before buying things? I'm guessing because you budget pretty closely that you wait until your next budget cycle too?
Other random tip: I know this sounds weird but I sometimes will walk around target or the mall to just window shop and buy nothing to get out the feeling of buying something. For whatever reason it works, guess it’s just some weird psychological thing that helps me to spend less
Interesting! It probably requires a lot of discipline to go shopping when you feel like buying things but then not buy anything (subjecting yourself to temptation). It makes perfect sense tho if you enjoy the atmosphere of the stores you shop at, because that would be a way to still enjoy the ambiance. I've done the window shopping thing with friends who invited me shopping. "Are you really not going to buy anything?" is a question I've gotten on more than one occasion!
All great questions Rox. I'll admit I don't search for deals but I always factor in the hours worked when purchasing impulse items or services. I have limited space so I try not to buy items that don't have space or function in my home.
Hey Dee! I suppose I don't look for deals all the time, really just for the more expensive items. My space is cluttered up as it is so that question brings me down to the realization that I should be de-cluttering not re-cluttering! Thanks for sharing!
Thank you!! I have been slacking off on asking any questions lol but two more I like are:
1. I try to avoid looking at the price and then ask myself “how much is this worth to me?” Then if I check the price and it’s over, it’s a no
2. Can I get this second-hand?
Hey Wren! Oh my gosh I LOVE these questions! I will have to try the "how much is this worth to me". And the second hand question is a gamer changer. Thanks for sharing! 😀
You need to make a blog/website and target new keywords and add your videos in them to drive more traffic to your channel
Hello ichra7com darija! I actually do have a blog (FinanceRox.com) but am working on updating the theme so I haven't posted there lately. I do plan to do exactly what you recommended!
Ive gotten a lot better at impulse shopping. Food can still be my downfall though.
Food is tough...it's so easy to justify spending since it's required for existence and our brains are so insistent about it. What do you think has helped you get better about impulse spending?
@@financerox Creating No Spend goals and the challenge of surpassing that goal helps me with impulse spending
Is it on the budget? Obvi, Gucci is ALWAYS on budget. Time to hit up Gucci’s year end blowout sale
If you buy Gucci on sale, does it even count? Isn't paying a lot the whole point? 😆
@@financerox But what about buying low and selling high
@@TheAndrewLopezFinancePodcast touche!