| Turns out one of the easiest ways (theoretically) | | | | Do I need these name brand jeans or do I just |
| to save money may simply come down to you | | | | want these name brand jeans? |
| asking yourself one single question: | | | | Anyway, I think you get the point. |
| "Is this something I NEED or just something I | | | | Now comes the hard part - you've determined |
| WANT?" | | | | that you definitely need something; let's say you |
| If you can ask yourself this question each time | | | | need a new car because your current one is |
| you make a purchase, you're going to set | | | | unreliable. After determining your need you have |
| yourself up to save a lot of money over time. | | | | to make sure that your wants don't come back |
| A common misperception regarding this question | | | | into the picture. |
| form of self restraint is that it should only be | | | | In using the above example, you know that you |
| practiced when you're purchasing big ticket items | | | | need reliable transportation, meaning you need |
| - a new video game system, a TV, designer | | | | something that's going to get you from point A |
| jeans, a car, etc. - and not during your day to | | | | to point B with minimal hassle and low |
| day purchases. | | | | maintenance costs. With that in mind, does that |
| Unfortunately, nothing could be further from the | | | | mean you should get a relatively new used car or |
| truth. You should be willing to ask yourself on | | | | go for broke and get that 5 Series BMW you've |
| each and every item you purchase whether or | | | | always wanted? |
| not you are fulfilling a need or indulging a want. | | | | In this situation, you've done a good job of |
| Even though you might see the most one time | | | | determining something that you need, but are you |
| savings on big ticket items, over time you're | | | | going to screw it up by letting your wants take |
| probably going to net the biggest savings by | | | | over? |
| reducing your impulse buying of smaller, every | | | | Don't get me wrong, I'm not telling you to stop |
| day items. | | | | buying things and that all purchases are bad - or |
| Here are some examples of both big ticket as | | | | for that matter all "nice" things are bad. I'm just |
| well as every day purchases that you might run | | | | advocating that if you live within your means and |
| into: | | | | are willing to put forth some self restraint, you |
| Do I need this XBox 360 or do I just want this | | | | are probably going to find yourself in a much |
| XBox 360? | | | | better financial situation than someone who |
| Do I need this new set of golf clubs or do I just | | | | throws caution to the wind and buys whatever |
| want this new set of golf clubs? | | | | they want in that particular moment. |