Life is trying to get back to normal. As the COVID-19 numbers drop, more retail stores are reopening, which is a great sign for our economy, but may not be as good for your pocketbook. Try to avoid getting caught up in the excitement of things getting back to \u2018normal,\u2019 and be mindful of your spending.<\/p>\n\n\n\n
Before you shop, ask yourself the following questions.<\/p>\n\n\n\n
Is this an Impulse Buy?<\/strong><\/p>\n\n\n\n Are you shopping with a list? If you are, is the item you\u2019re holding or that you \u2018need to buy\u2019 on your list? If not, it\u2019s an impulse buy. Even if you don\u2019t have a list, but you look at things you don\u2019t need or didn\u2019t intend to buy; it\u2019s an impulse buy.<\/p>\n\n\n\n Rather than buying without thinking, give yourself 48 hours. Leave the store or close your web browser without buying the product. After 48 hours, if you\u2019re still thinking about the item, maybe it\u2019s something worth buying. Chances are though, if it was an impulse buy, you won\u2019t even think about it again.<\/p>\n\n\n\n\n\n\n\n Is it in the Budget?<\/strong><\/p>\n\n\n\n If COVID-19 taught us anything, it\u2019s to live on a budget and prepare for emergencies. Now more than ever we need a budget. Create your budget and stick to it. Make sure you include room for spending in it \u2013 don\u2019t make yourself sacrifice so much that you spend out of anger but keep it reasonable. <\/p>\n\n\n\n If you want to buy something that isn\u2019t in your budget, figure out how much you have to save each pay period to buy it. Looking at it from that perspective may change your mind or at least make you work hard to get what you want.<\/p>\n\n\n\n How Often Will I Use It?<\/strong><\/p>\n\n\n\n The excitement of buying something new is just that, excitement. Think realistically, though. How often will you use the product? Is it something you want because of the novelty? Will it wear off quickly or is it something you\u2019ll genuinely use? Do you want it because it\u2019s trendy or because it\u2019s something you\u2019ve wanted for a long time and now you can get it?<\/p>\n\n\n\n Is it Worth the Investment?<\/strong><\/p>\n\n\n\n Is the money you put into the item worth it? Will it last long enough to make the investment worth it, or is it a one-and-done product? We have to be careful where we spend our dollars today, especially since everyone should be saving money in their emergency fund, just in case we experience another round of what the economy experienced this time around with COVID-19.<\/p>\n\n\n\n We know it\u2019s exciting that the stores are opening again. We are just as excited, but keeping your spending under control is important. Ask yourself the questions and really listen to the answers. If nothing else, give yourself time before you make a purchase. You\u2019ll likely find that you spend a lot less when you sit on the decision rather than acting on an impulse. In the end, you\u2019ll have a larger emergency fund and less stress in your life. <\/p>\n","protected":false},"excerpt":{"rendered":" Life is trying to get back to normal. As the COVID-19 numbers drop, more retail stores are reopening, which is a great sign for our economy, but may not be as good for your pocketbook. Try to avoid getting caught up in the excitement of things getting back to \u2018normal,\u2019 and be mindful of your … <\/p>\n