How To Make a Big Purchase

By Lev Novak

Despite months of ramen and budgeting, you’re going to make a big purchase.

It might be your apartment lease or it might be a car. Maybe it’s a graduation present to yourself- a bag you wanted or a trip or vacation you’ve wanted for years.

So, the question remains: how do you do it?

1. Purpose Over Price

If you really want something, don’t worry about the price (within your possible range.) If you want a bag desperately for $1,900, it’s a much better buy than a bag you don’t want as much for $1,200.

If you’re making a big purchase, you’re making a big purchase. Follow your love and passion and don’t concede halfway through. If you’ve always wanted to spend a week in Italy don’t settle for four days in Cape Cod if that will distract you or your wallet from the actual thing that you want.

Money is an object, but purpose can, at times, transcend it. If you don’t have a burning desire or need for this purchase, don’t make it. But if everything adds up- including the disposable income- don’t compromise it. Half-measures cost more in the long run.

2. Be Prepared

If you’re buying a bag, make sure you do what you’re supposed to in order to preserve it. If you’re going on a fancy trip, make sure it’s exactly what you want to do and don’t leave things to chance- make plans, even reservations in advance.

Don’t leave your investment- and it is an investment- up to chance. Check the weather before you book that flight. Make sure you can’t find a bag you like more before buying that bag on a whim.

When you’re spending that much money, it’s a treat for yourself. Let that treat last. Spending money is fine and a joy when you can afford to do it, but don’t let money evaporate.

3. Think About It

Wait a few days before you do it.

That doesn’t mean you should hem and haw or be worried about if you should or shouldn’t go through with it: I mean, after you’ve made your decision, let that decision sink in. Are you excited? Are you telling people about it? Are you daydreaming about it?

Go ahead and do it. Those few days of anticipation are awesome, though, and you shouldn’t let yourself skip them, because they’ll help replace the fear of buyer’s remorse.

Be hungry for it before it happens. If it’s a fancy restaurant you’ve always wanted, that advice is even more literally.

4. Use It

Can your purchase be considered an investment? Is it something that will help your career or be useful in addition to being an indulgence? Do you need these clothes to impress dates and clients? Do you need this vacation to recharge?

Whatever it is, if it’s useful, you’re going to feel a lot better about it. And even if it’s not, remember: a treat now and then is needed. You’re using it, even if it’s just as a treat for yourself.

5. Enjoy

Savor it.

When you’re spending money like that, let the enjoyment settle and sink.

You may as well, right?

Share this article: