Some people were telling me that when it comes to buying certain things they either first look at their pool of funds and then decide what to buy or they decide what they want to get first and then try to get the necessary funds to purchase it. One person was telling me how you should always have a budget in mind which will help to prevent you from overspending to save money. The other guy was saying that it was better to decide what you truly want first as that way you are purchasing something based more on the overall value of the product based on your needs which will pay for itself in the long run.
Interesting perspectives I thought. I think for myself it depends on the situation. When it comes to everyday things like say buying something to drink I would tend to approach it in a more dollar conscience way as oppose to say purchasing a large item like a TV where that is more about the overall value. For the most part, I would say that I normally tend to go with the non budget approach as I try to get the best value or quality for my needs as I usually think more long term. Of course, I would say that it needs more discipline to go that way too as you need to differentiate a need versus a want when it comes to certain things.