Life Kit: Money Should I buy it? A framework to help you decide
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Jul 17, 2025 Brian Vines, Deputy Editor of Special Projects at Consumer Reports, dives into the art of mindful purchasing. He discusses how marketing pressures can lead to regrettable buys and offers a framework to evaluate spending. The conversation includes tips on distinguishing needs from wants and the importance of considering durability and repairability. Vines also highlights strategies for thoughtful buying, advocating for emergencies like impulse control and mindful budgeting to enhance financial well-being.
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Distinguish Needs vs Wants
- Stop and ask yourself if you need something or just want it before buying.
- Distinguishing needs from wants helps prioritize spending when funds are limited.
Check Emotions Before Buying
- Pause and check your emotional state before making a purchase.
- Avoid shopping when upset, celebrating, hungry, angry, lonely, or tired.
Assess Fit and Maintenance
- Evaluate if the item fits your lifestyle and if you can handle its upkeep.
- Consider storage space and maintenance costs before buying.