Summary of Things to Ask Yourself about Large Purchases

Though emotion and sentiment can drive you a long way in the pursuit of a major purchase, it helps to temper these motivations like a businessperson would: look at the value of the item. How long will it be of value? Can it aid in creating new value in other ways? Thinking like a businessperson can give you a balanced view of the buying process.

Think through several important issues: what’s your motivation for wanting this item? How strongly do you need it? Can you buy it with cash, or should you finance it with credit? Can you get a used version that’s in good shape?

With proper planning, you may even head off the dreaded buyer’s remorse!