Caught this on the internets the other day and almost had a moneygasm!
It comes from the beautiful mind of Sarah Lazarovic, and thought we’d marinate on it for a bit as it’s pretty epic… Link to download the high res version is down below if you want to print or share it around. Would make an excellent companion piece to that high school money class too!
The 6 Stages of The Buyerarchy:
#1. Use what you have — Yup, best place to start! It’s not always the most fun or shiny, but it sure is the most economical (and useful). Our households are all overflowing with stuff, and half the time we probably own whatever we’re looking for anyways! Shop your house before going anywhere else!
#2. Borrow — BOOM. What’s better than paying to use stuff? Not paying to use stuff! There’s libraries of course for books and movies/etc, but there are plenty of other forums for borrowing items too. Check out places like NextDoor.com or local Facebook groups to see what people are lending around to each other.
#3. Swap — Another fine idea, and one where you actually get to KEEP the item in need! ;) I’ve heard of parties where you get together and swap clothes or books or even toys, and I’m just waiting for an invite as I got quite a few of the latter that I’d love to put in use again… A “new” toy in the eyes of a kid just means “new to them,” making it like Christmas anytime you bring home something! Haha… I could probably find a headless batman on the side of the road and it would excite the pants off them.
#4. Thrift — I’m assuming this means doing without/less or getting creative (or maybe even hitting up thrift stores?) but in any case you can never go wrong inserting “thrift” into any part of life. It’s been around for hundreds of years and people survived just fine!
#5. Make — Can’t find what you need from your home or friends? Get crafty with it! Learn something new and feed your brain at the same time. These days you can learn how to do practically anything with a quick Google search.
#6. Buy — Last but not least, if you truly 100% NEED something and/or want it really really bad (ain’t no one perfect!), go out and finally purchase it. Sometimes there’s not even a choice in the matter, but the more you practice stages 1-5 the less you’ll probably end up picking up over time… Although I’d personally break this section into two: buying used, and then buying new. But perhaps that would have over complicated the pretty little picture here ;)
At any rate, there you have it – The Buyerarchy of Needs!
Print it and share it with everyone you know –> Large Version
It may not make you wealthy, but it’ll sure help speed up your savings! And a good thing to keep in mind over the weekend too!
For more on Sarah and her brilliant designs, check out her website: SarahL.com. She’s even cool with you tattooing this on your body if you’re so inclined! :)
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!