Sharing Daily Discoveries About Personal Finance And Business Topics

Buying More If You Spent Less

Recently I was looking for some Christmas gifts. As usual, I usually set a budget for myself as to the maximum that I should spend on a person. For example, at times maybe it’s $50 for a kids toy item. I was expecting to pay that much for a particular item but realized it was on sale. In fact, it was so cheap that the price was less than half.

While I could just walk away and say I got the present and saved a lot of money, for one reason or another my first thought was that I have extra money from the person’s budget and so maybe I should look for more stuff to give them. I was then thinking how that is a bad habit in general as it reminds me of like how if someone went to the mall to buy a clothing item where they unexpectedly saved five dollars they would then be inclined to justify spending that at say a fast food restaurant with the notion that they originally intended to spend it anyways.

The way I quickly got out of that train of thought was that I just continued looking for items for everyone else and went home to think about it just like if you were pondering about a big purchase for yourself. Once you put it in perspective and look at all the receipts it seems to make more sense to not buy more than intended.

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