If you can’t pay for it, don’t buy it.

by J. Money on Monday, November 30, 2009

Sure you want to buy that? StickyThat’s what a friend told me the other day when I mentioned I blog about money ;) It’s such a simple line that I couldn’t resist sharing… “If you can’t pay for it, don’t buy it.” Yes, I like that.

The only problem with these sexy one-liners, though, is that it’s much easier to say/think than to actually DO. Or hold yourself accountable for that matter. What does “I can’t pay” really mean to you? That you don’t have enough cash in your pocket? That your credit cards are maxed out? That you’re over budget and afraid J. Money will yell at you (I wouldn’t, but I like the way you think)? There are a ton of ways you can opt out here by simply saying it doesn’t apply to you.

But what if we cut up a sticky and plopped it right there in your wallet or purse? In big black sharpie it would read “Sure you want to buy that?” What do you think would happen if you saw that every single time you took out a credit card or dug for cash? I know it would get ME to stop and think for a quick second or two. I’ll probably continue on buying whatever it was I wanted 95% of the time, but at least then it’s a conscious decision I’m making ;)

I guess what I’m trying to say is that these awesome sound bytes & ways of thinking are great to ponder from time to time, but we’ll usually forget it the second we click away. You make it into something actionable though, and you never know what might happen!

PS: Some of my favorite tools:
personal capital Personal Capital (FREE) -- If you’re looking for a robust financial tracker, Personal Capital is the way to go! They’re like Mint, but on steroids and have much better tools for investment and net worth tracking. // Full review
digit.co Digit (FREE) -- A super easy (and automated) way to save. Every day Digit analyzes your income and expenses and will push money aside for you any time it sees extra sitting there. I've saved over $4,000 myself using them so far! // Full review
acorns Acorns -- Having trouble finding money to invest? Check out Acorns – they round up all your transactions to the nearest $1.00 and drops the difference into an investment portfolio for you. Easy way to start investing! // Full review

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