To Buy Or Not to Buy

With the advancement of technology, nowadays, nearly everything is readily available on the Internet. 

Do you shop till you drop? Do you always return items because on second thoughts you don't want them after all?

To buy or not to buy is often a bone of contention between spouses, and among members of family. Why? Because to buy or not to buy involves many factors that may lead to conflicts.

Money: Is there money available to buy? Are you buying something you don’t need with the money you don’t have? Even if money is available, is it a great bargain?

Desire: The desire to want or possess something is a strong human instinct. Straightly speaking, other than the basic human needs, such as food, clothing, and lodging, most other things in life are just wants, not needs. But most of us want them anyway—that’s why consumer spending has always been the main component in the U.S. economy.

Bargain: Psychologically, many consumers fall for the hype “on sale.” But what is “on sale” may not necessarily be “a bargain.” Driven by the mindset of “a good deal”, many consumers are too willing to reach into their pockets to part with their cash.

Impulse: In America, impulsive buying is fostered by the consumer-friendly concept of “buy first and return later.” Often times, however, to return purchased items on the Internet or from a store can be a hassle.

To me, to buy or not to buy is mainly determined by the above factors. Even so, they could also be very subjective, and even controversial, because one man's meat may be another person's poison. For example, you can buy a pair of jeans at Walmart for $20, or for $100 elsewhere. Assuming that money is no object, should you buy the $20 or the $100 pair of jeans?

That brings to yet another important factor that never sees to have crossed people’s minds when debating whether to buy or not to buy something: man-hour factor.

To me, to buy a $20 or $100 pair of jeans is solely determined by the man-hour factor (which is applicable to many who are still in the workforce) If your hourly pay is, say, $20, are you willing to work 5 extra hours just to get that pair of jeans you so desire? If yes, that’s your personal choice. To buy or not to buy anything that seems costly, think about the man-hour factor; it may change your decision one way or another. 

In every aspect of life, including money spending, wisdom plays a pivotal part. Develop your own wisdom in living.

Remember, spending is a personal choice; make it a wise one.

Stephen Lau

Copyright © Stephen Lau