How Second Guessing Yourself Can Save You Money
Although not everyone would agree with this statement, second guessing yourself can be a double edged sword. Most people would say that it shows a lack of confidence at the very least.
But, second guessing yourself can also result in missed job opportunities due to difficulties with decision making. This, in turn, can lead to making a lower income as well as leading a less comfortable life.
The flip side is that second guessing yourself can save you money. Here’s how.
Deters Impulse Spending
One of the ways second guessing yourself can save you money is through deterrence of impulse spending. Instead of buying something the moment you want it, second guess yourself and wait a couple of days.
Often, allowing just a few hours to pass can end the urge to buy the item you thought you had to have. If you let a few days pass you may find you’ve forgotten altogether about making the purchase.
Discourages Debt
Second guessing yourself can save you money by discouraging the build-up of debt. All those impulse buys add up over time and many people charge them to their credit cards.
However, stopping to think about whether or not your purchase is a want or a need puts the brakes on spending. This kind of second guessing is a healthy way to prevent and reduce your debt.
Encourages Enjoyment of What You Already Have
An interesting side effect of using second guessing to save yourself money is enjoyment of what you already have. When you put true needs and wants in their proper perspective you learn to appreciate what you own.
Second guessing helps you gain more pleasure in your extras once you do finally get them.
Promotes Saving
If you abstain from buying every single thing the instant you want it you will have better luck balancing your monthly budget. That’s another way second guessing yourself can save you money.
Put the funds you would have spent in a savings account for emergencies instead. Then when you have real need of it in the future the money will be there.
But you can also save money little by little to buy some of the things you want. This is a good alternative to going into debt to buy them the moment you lay your eyes on them.
3 Ways to Support Second Guessing Purchases
If you want to start second guessing yourself before you buy there are several questions to ask yourself each time.
1. Do I already own something else that will work instead?
When the answer is yes put the item down and don’t buy it. If instead the answer is no, move on to the next question.
2. Can I get the item another way?
For example, could you borrow it from a friend or rent it instead of buying it? Depending on the item and its price, renting can be a great alternative to buying something you may only use once.
3. How many minutes of work does this item cost?
Figuring out how long you had to work for something you are considering buying can help you make the right buying decision. If you know a restaurant meal cost you half a day’s work you might be more likely to pass it up.
As you can see, second guessing yourself is not all bad. You can use second guessing to your advantage and save money in your budget.
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Wow! This is quite insightful. I love the way you explained it in detail. I’ve been caught in this web severally and most times I can be confused on the best action to take.