Can you grow it or make it yourself?
If not, then consider the following:
1. Do I really need this? Is there anything I can use instead?
Here’s where the joys of ingenuity come in. It’s fun to find substitutes. For instance, do you really need a nightgown or pajamas when a big shirt will do as well?
2. How will this item affect the quality of my life?
Will it help me engage in life more fully, like sheet music or gardening supplies or a swim suit? Or will it just make me more passive – like an extra TV?
3. Is the cost of the item worth the amount of time it takes to earn the money to buy it?
This is the question suggested by Dominguez and Robin in Your Money or Your Life. For instance,
How many hours do you have to work to buy your daily espressos?
Is it worth it?
You may say yes, but at least you’ve thought about it.
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