{"id":4031,"date":"2015-07-23T17:09:52","date_gmt":"2015-07-23T17:09:52","guid":{"rendered":"http:\/\/financiallyfitfoundation.org\/?p=4031"},"modified":"2015-07-23T17:09:52","modified_gmt":"2015-07-23T17:09:52","slug":"part-2-of-my-formula-for-buying-whatever-i-want","status":"publish","type":"post","link":"https:\/\/financiallyfitfoundation.org\/site\/part-2-of-my-formula-for-buying-whatever-i-want\/","title":{"rendered":"Part 2 of my formula for buying whatever I want"},"content":{"rendered":"

Last week I shared about how I keep my ego in check so that I can spend freely.<\/p>\n

Now the next part of the “magic” formula I promised… (we’ll finish it up next week, because this one part is so important, I felt it deserved all of the focus this week).<\/p>\n

The second part of the formula is assigning my own value to a potential purchase, instead of assuming that the price tag is correct about the items’ worth. Basically I figure out if something is really<\/i> worth it because I only want things of true value.<\/p>\n

How exactly do I assign something a value?<\/p>\n

I weigh ALL the costs of the purchase against the value that the item brings to my life and THEN consider the amount that’s on the price tag.<\/p>\n

I consider the hidden costs like the money and effort to take care of that item (cleaning, maintenance, tailoring, etc). I think about the space it will take up and how it will make my closet a little more cluttered.<\/p>\n

Then I analyze how much value the item will add or take from my life. I sometimes calculate how many hours I spend working to afford a particular expenditure (overestimating for taxes!). I don’t buy things that cost more money than their value has to me<\/em>. This quote beautifully expresses this sentiment:<\/p>\n

 <\/p>\n

“You don’t pay for things with money. You pay for things with hours \u00a0<\/em><\/p>\n

of your life. Make sure you’re spending it wisely.”\u00a0\u00a0<\/em><\/p>\n

Chris Gardner (from The Pursuit of Happyness)<\/em><\/p>\n

 <\/p>\n

So the formula for buying whatever I want = checked ego + assigning value.<\/p>\n

Next week, I’ll share how I buy things whenever<\/em> I want AND without worrying <\/em>so that by the end of this series (next week), you can buy whatever you want, whenever you want it, and without worrying about it!<\/p>\n","protected":false},"excerpt":{"rendered":"

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