With the media advertising the latest phones, televisions and other cool electronic gadgets, it is hard not to be tempted to purchase one as soon as they hit the market. However, as a frugal shopper I do not recommend purchasing a new item right after they hit the shelves.
My family typically waits a little while before purchasing the new gadgets on the market. In most cases, we find the price of the item goes down and the company can gets all the kinks out.
When purchasing a large ticket item that is more of a want than a need, make sure you have money in the bank to cover the cost of the purchase. If the item places you in debt and outside of your family budget, do not buy it. In our home, when we want to purchase a large ticket item, we set money aside every month and save money before purchasing the item. We do not allow the item to take us out of our budget or make unnecessary charges on our credit cards.
I also recommend not to get caught up in the media hype. Advertisers will tell you that you need the newest gadgets. It is so easy to be drawn into the lifestyle of keeping up with the Jones. I think the lesson that I teach my preschoolers could apply to all of our lives. I am always telling my preschoolers, “Be happy with what you get and do not throw a fit.” I try instill in my children that we live within our means and be content with what you have.
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