Today I just wanted to do a short post about the benefit of delayed gratification. This principle really goes with not buying things that don't increase in value unless you have cash. When you want to get something it pays to give it some time. Make sure that after "sleeping on it" you still want it, you can afford it, and you can afford it now. Janell and I recently purchased a bedroom set. This is something that we have wanted (especially Janell) since we got married. Well, now that we have had a few years of saving we can afford it. We found something we really like on sale. So, we slept on it and decided to go ahead and make the purchase. Wow, it really gives you satisfaction to pay with the debit card (Cash).
In our "I want it now" world it actually means more when we put off things we want until we are truly ready financially to get them. When considering a purchase we can ask ourselves the following questions:
Can I afford to get this?
Can I pay cash?
What do I have to give up to get it?
Does it make sense to buy it now or later?
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