Do You Ever Buy Things You Can't Afford?

Discussion in Shopping Discussion started by Denis Hard • Nov 20, 2015.

  1. Denis Hard

    Denis HardWell-Known Member

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    Someone I know, to keep with his neighbors who were relatively wealthier managed to borrow some money from some credit union and bought a new car. When the time for paying back the money came, he didn't have it and since then he's been having some really serious financial problems.

    All this could have been avoided if he hadn't tried to buy something which he couldn't afford.

    Many people make the same mistake. Even if you have the money saved up, unless you really need something which is rather expensive, there's no need to buy it.

    To save money and avoid being one of the many people who are drowning in debt, buy not something you can't afford or don't need. Trying to keep with the Joneses will only land you in trouble.
     
  2. Lushlala

    LushlalaWell-Known Member

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    Ah keeping up with the Jones's! Luckily, my husband and I are very grounded and don't get bogged down with other people's possessions. Oh yes, we see it and maybe even feel a little envious sometimes, but we're rational about it and are on the same wavelength about living within our means. We're surrounded by well off friends, so it's really in our face too. Nobody judges, nobody put us under any pressure, so I guess that also helps. Although I do have to say a lot of people who like to keep up appearances are the ones who put themselves under pressure, which is just silly!
     
  3. sidney

    sidneyWell-Known Member

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    I only buy what I want and need if I have cash on hand that isn't reserved for something else. Buying something using your credit card or via a loan is a sure way to get drowned in debt. I don't even want to apply for a credit card if the time comes that I'm qualified to apply.
     
  4. Pabmart

    PabmartMember

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    I always have like a budget for the little things that I like buying, and I separate it from the everyday spendings, so I never run out of money. Normally is not a lot, but if I save throughout some months I can afford a cool thing.
     
  5. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    :oops:How sad for your neighbor that he couldn't make payments and I hope their finances improve soon. Like the rest I thinks it's best to keep within a budget and try to keep spending down for we believe it's best to have money than to always repay it for credit cards. We try to keep within our budget. Here on Oahu I have relatives to help when they can with big bulky and heavy items I get from stores for I only bus right now. I sold my car and relinquished my license already to save money. I bus only now, but a car is handy at times and luckily my cousin's who are like my brothers help my Mom and I. It's hard I must admit to be within a budget, but either the life insurance pays for it later or you'll pay for it now.
     
  6. rikka

    rikkaMember

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    I believe in saving. I saved for years to buy the things I want. However, I do not like to purchase products just because my friends have it. That is being silly, that attitude of keeping up with the Joneses. If I can't have it, so what? If I really want something, I think a million times if it is something that I need and can't live without, or something that I want but can live without. Priority really is the key.

    Also, I would rather look poor and be a stock holder of major companies (and secretly keeping that info from friends) than look rich while having an empty purse. Keeping up appearances just to keep up with everybody else is never healthy.

    Also, I never use credit card.
     
  7. Corzhens

    CorzhensWell-Known Member

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    When I was younger, I sometimes buy on credit. Like jewelry that I would have to pay for 6 months from my salarly. But when I got older, I realized that money is a commodity and it's just a matter of proper handling because mishandling money can give you a headache. So now, even with the credit cards, I still manage my purchases vis-a-vis the budget that I set for each month. And with Christmas shopping, it is best to have a list with corresponding amount so I wouldn't exceed the budget.
     
  8. JosieP

    JosiePWell-Known Member

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    This is what people are conditioned to believe though. Not having the latest and greatest is a sign of failure. Even being in debt is better than not having shiny new things. This person represents the majority and how society is creating the unhappiest generations yet.
     
  9. shoptodrop

    shoptodropActive Member

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    This is something I struggle with. I buy things when I should be saving. I can't really afford it, but I do it anyway. I'm bad at it. But in a way it's not really my fault. If I need things I'll get them even if I can't afford it. I'm always provided for, so I don't worry too much about it.
     
  10. goldenmaine

    goldenmaineActive Member

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    I am always tempted to keep up with everyone. Purchase a new gadget, a car, fashionable clothes, branded accessories; but I am grateful that I have not given in to the pressure. My current financial situation can make me afford to buy some of these luxuries but I am always thinking of the future and what lies ahead. There may be emergency situations that will come that may need a lot of money and I am afraid that when that time comes, I do not have any cash to spend because of overspending on material things. This is what I always think about when I come too close to buying expensive stuff.
     
  11. steph84

    steph84Active Member

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    I would always try to buy things that I could not afford and it just backfired on me all of the time. I would try to buy gifts for people that I couldn't afford too. Now I just buy what I need and stick to a budget.
     
  12. DrRipley

    DrRipleyExpert

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    I have to admit I am guilty of this too sometimes wherein am very tempted to buy some luxury items when I know I'm putting myself in a risky spot. Sometimes I'm lucky enough that something goes wrong with my transaction when buying something like this online so I end up just saving my money instead, but as for self control I can definitely sympathize with those who have difficulty with it.
     
  13. gracer

    gracerActive Member

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    I am very frugal that's why I have never bought anything that I couldn't afford at all. I have always believed in the saying "live within your means." I think one of the main reasons why many people have money problems and fall on debts is the continuous desire to possess things that are way beyond what they can afford. I've seen my dad go through such kind of trouble and I've seen him suffer a lot of sleepless nights because of debts here and there.
     
  14. thenextGeek

    thenextGeekActive Member

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    No I don't because I have and idea of where I'm at right now, and I have a clear goal for my financial future which helps me prevent myself from buying unnecessary stuff, especially those that are way beyond my financial capacity. Although I do know a lot of people who buy things they can rarely afford just to show off to others. I mean, they're wearing branded clothes despite their very low net worth. A lot of people want to only look rich, while the chosen few want to to be truly rich.
     
  15. Briannagodess

    BriannagodessActive Member

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    I rarely use my credit card. As much as I can, I buy items with direct cash transactions. I really don't like the feeling of having "debt" and knowing that I have something that isn't paid for yet. And if ever I do need something, I would just save up the money for it instead of using my credit card. My credit card is just for necessities when we don't have the cash at hand.

    And even with other expenses, I don't just buy things. I take my time and think about if I do need the product. With clothes, I already have a lot of them so I don't even buy them anymore. With gadgets, my smartphone and laptop still works so even if the newer models are out, I still don't buy them. My husband has actually insisted that we buy a newer model but I am reluctant as it can cost a lot of money. I'll probably wait until my phone dies on me.

    And when it comes to my bank account, nope, I'm not touching it. There were instances that I'm really tempted to get money from it, but I stopped myself. I know that we need that money for the future and I need to keep saving up... Not getting money from it.
     
  16. BrandonScooterman

    BrandonScootermanActive Member

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    I think we all have at one time or another.
    If you can't buy it in cash, then chances are you can't afford it.
    I spend $10 000 on my first car, got a loan from the bank.
    STUPID! Very stupid, I only drove it 2 years before I sold it. Basically only got for it what was left on the loan.
     
  17. jamesfende

    jamesfendeMember

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    me and my partner have a system to save money and not waste it on pointless things.
    we obviously split all the bills, including food bills and petrol, but each week we both have £20 to spend on whatever we want. my partner quite often buys herself little treats each week be it clothing, jewellery or beauty products. whereas i save mine up as much as possible so i can buy something i really want. works great as means we can still buy what we want but helps you think about whether you actually need it. weve done this for 10 years now too!
     
  18. cocolgooh

    cocolgoohActive Member

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    I only buy what I can afford. If I can't afford it I don't buy it. I've needed a new phone for around 8 months now, but as I haven't been able to afford it and have needed to use that money on other things (like my parents' medical bills for example) I didn't get a new phone yet. I'd rather slowly save the money up for it and know that it's mine than buy it and struggle to afford it. When I can afford it, provided that money isn't needed for something else, then I'll buy it.
     
  19. Vinaya

    VinayaActive Member

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    I have never bought anything that I cannot afford. However, I always plan to buy th thing that I cannot actually afford to buy. I not only plan, but also make a saving so that I could buy that product someday. However, when I am about to buy that product, I happen to change my plan.
     
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