MAKE QUALITY EDUCATION

Now, more than ever it is important to keep track of our spending. We are looking at a few months of hard times and if we are going to survive we need some strategies. Strategies that are not only easy to implement now but also sustainable over the long run. What follows is an amazing strategy that can change the way you look at money as well as spending and give you the edge you need to stay on track during otherwise trying times.

The first strategy we are going to look at is called "Test of Time." A simple concept that has been used many times during periods of economic struggle, when making ends meet meant surviving. It is a simple idea really; it has to do with combating the impulse buying that so many of us do. That's one of the things that makes eBay so popular is people selling things they don't use or need anymore. Something they bought on an impulse that maybe really doesn't fit into their life it just seemed like a neat idea at the time.

Or maybe someone else had one and you decided you wanted one too. Or you read about in your favourite magazine, or saw it on TV. Whatever the case, you bought it on an impulse. You just went out, found it in the store, and bought it. So what is the "TEST OF TIME" anyway?

It starts with a little digging. Look into product reviews, search for the product ratings. Find a nice picture, to put in your wallet or on the fridge. Then put it out of your mind. Chances are you can wait a day or two before you absolutely have to have it. See if you can rent or borrow one. In any case, wait at least a week before you buy, borrow, or rent it.

If you still think it is a great idea, determine the latest possible moment that you absolutely need it and leave your purchase until then. If you only need it for a day or two, try to rent it first. Why lay out all that money for a one time use?

If after a few days or a week if you haven't thought about it for a while, do you really need it? Be honest, if you can go on day after day and not give it a second thought do you need it that bad. Now, if you still feel you need it, just before you buy, maybe even right in the store, or sitting at the web site, convince someone else you need it. Whether it is your spouse or partner, a good friend or family member, you need to convince them that you just can't do without it.

Listen to what you are saying, if you can convince them and yourself that you truly need it, that it is not just a one-time thing, that it is worth the cost, and that you are willing to give up something else you may want of equal value to buy it. Then go ahead and buy it, it has withstood the test of time and you still need it as much as you ever did.

Doing this will help you to avoid making impulse purchases that are often the biggest expense in our lives. It is not going to be easy, we are an immediate gratification society so changing the way we think about buying won't happen overnight. But if you stick with it and use this strategy, particularly for the bigger purchases in your life, you might be surprised at how much money you will save.

Don has been a consultant for over 20 years and tries to provide valuable information for people in need of guidance. As someone who has been there he want to help people get their lives back on track and possibly even make the money they need to make it through rough times.

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