Sharing Daily Discoveries About Personal Finance And Business Topics

Investing In Resources As You Truly Need Them

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It was kind of interesting hearing this from a person recently where he decided to downsize as he found that he was spending way too much on things he never really used. He was telling me how seeing me do things with so little made him think that simply going with the basics at first is the way to go. This was for a business too where he often spent hundreds of dollars where he thought he may need the items. But many times he never ended up using it. Almost reminds me of people buying things like an expensive juicer just to never really use it.

So he was then expressing how he will try and do something more along the lines of what I do where I buy things knowing that I will immediately use it all the time. I find many times it’s a waste of money to buy things you may only use once or twice as by the time you actually have a real need for it a newer version may have come out as an example. I guess an over exaggerated example would be imagine you needing a car for one day where you figured it would be useful later too. So you buy this brand new car where it loses a lot of its value once you drive it off the lot and it ends up sitting in the garage. Like there it probably would have been better to take a taxi for a day as an example.

Needing something for one day may not necessarily warrant the purchase of the item that you may not actually use frequently. Too many times we justify purchases like this where if we thought it out a bit there are probably better options for what we need.


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