When I was growing up I always heard my grandmother say, When in doubt, do without. She meant, of course, that if there was something I was not 100% committed to buying then I should pass it by, or at least delay the purchase for awhile to make sure it was something I really wanted to spend my hard-earned dollars on. I have not always lived this motto, but now seems like a good time to revisit it.

When I was growing up I always heard my grandmother say, When in doubt, do without. She meant, of course, that if there was something I was not 100% committed to buying then I should pass it by, or at least delay the purchase for awhile to make sure it was something I really wanted to spend my hard-earned dollars on. I have not always lived this motto, but now seems like a good time to revisit it.

If you watch the news today, you will see that too many of us have fallen prey to the I deserve it mentality. Credit card debt is out of control. Shopping is one of our favorite pastimes, and marketers keep telling us we need the latest and greatest

Now I am not an advocate of living behind the times. New products are developed and can improve your life. There is no reason to live without some of these things. But there are a few questions you should ask yourself before you buy something.

Do I need this now? It is a good practice to not buy something until you actually have the cash on had to buy it. You can still use your credit card to pay for something, but you should have the money saved up ahead of time.

Do I really need this? If the items fills a real need, not a made up marketing-need, then go ahead and buy it. If not, you should rethink the purchase. If you really want it, save up and buy it, but if it is something that will hurt you financially and it is not a must have then you should leave it on the shelf.

Do I already have something that does the same thing and still works fine? Many of us fall into the trap of buying things we have already. There is always a new and improved version of what we have. It is our job to weigh whether we can live with the item we currently own or if we need to upgrade.

What is the items shelf life? Try to buy things that will last a while. Many times, upgrades to products come out within a short period of time after you have purchased the previous version. If you know an upgraded version is coming out in a month or two and you will want the upgrade, then it is probably a good idea to wait.

How well is it made? If the item is poorly manufactured then you should consider buying a different make. Repair and/or replacement costs should factor in to your decision to purchase an item. Something that costs a bit more initially may be the best purchase if it has a better track record.

How much will this cost me over the long run? If you have to use your credit card to buy the item in question and you cannot pay off your credit card bills monthly, then you should factor in the finance and interest charges associated with buying that item.

Basically, grandmother was trying to stop us from impulse purchases. She was right. If you cannot afford something, then you should not buy it. Save up for it if you truly want it, but when in doubt, do without.

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