Budgeting Tip: Using What You Pay For

One of the more interesting personal finance points I read this week was from Get Rich Slowly. A guest post from a Colorado tech writer named Amanda caught my eye. She told a story of how she and her family bought some items and, even though they experienced some initial buyer’s remorse, got over it by using what they bought. Here is an excerpt from her Get Rich Slowly post:

Changing the way we think has also causing us to expose our kids and ourselves to things we missed out on as children because our parents ignored the amazing opportunities in our own backyard. We’re learning to use what we pay for and in the process enriching our lives through experiences rather than things.

This can be a great budgeting tip. The idea is to think about what you are buying, and whether or not you will use it more than once. Also, consider how it will affect your life. Will it enrich you life? Make some experiences more enjoyable?

Another point is brought up: if you pay for it, you might as well use it. Look around at things that you have in your home. How long has it been since you used it? Try using it. Is it an enjoyable experience? If you don’t think it’s worth keeping around, give it charity or sell it.

Let someone else benefit from it (and you as well, from a tax deduction or cash in your pocket). And let it be a lesson to think twice before you buy.

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