25 - Merry Christmas from the Affordable SA Team

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25 December, 2018

Merry Christmas from the Affordable SA Team.

Photo of Karyn Hick's Handmade Christmas Snowmen. Made from sawn sticks and hot glue.

Karyn won the Affordable SA Bring Christmas to your desktop challenge.

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Three simple questions to ask yourself before you buy

We've all done it. Bought something we later regretted because we didn't really need it.

The AfterPay logo seems to be everywhere, along with other so-called 'buy now pay later' products. You've heard it from sales assistants offering alternate ways too pay. Before you do, there are a few simple few questions to ask yourself about what you're about to buy?

1. How much do I really like it? Is this a necessity that will be beneficial for me and my household?

Stopping to think about whether you really like the item, and how it will add to your life might help put it in perspective for you!

2. How long have I been thinking about this purchase?

If you've been researching the product or thinking about it for a while, you're on your way to a good decision. You could also ask, 'Would I make this same purchase in 24 hours?' These questions help us reduce spontaneous decisions that we might later regret.

3. Do I have enough money to buy this today, which won't impact on my bills or payments?

If it's a stretch and you're reaching into next week's groceries, today is not the right time. Is there a way to save up instead?

"I often feel like I need to have the next best thing whether that be the current fashion fad or new gadget. However I've taught myself not to get caught up in it - a skill that has saved me so much money! Whenever feelings of urgency to buy "it" arise, I wait one day. 9 out of 10 times these feelings of urgency subside and I end up feeling better for it having saved the money and not made an unnecessary purchase" - Hannah

The Salvation Army's Monecare program encourages you to go on a buying reflection journey. Have a goal in mind like steering away from AfterPay and using it less, spending less online this month, or start saving for Christmas! Whatever it is, asking yourself a couple of questions before you buy something goes a long way in removing regret!

(Article sourced from The Salvation Army's Moneycare's "You're the Boss" Program)

For extra help with your goals, get in touch with a financial counsellor. They're free, independent and confidential.

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