Is This Purchase An Investment?
First, let's not make the mistake of using the answer to this question to justify a purchase. I use this question as a way to keep my focus on purchases that help me make or save money.
I really like purchases that save me money now or in the future:
- Vegetable garden purchases
- Automotive preventative maintenance purchases
- Fire starter materials purchases
- DIY purchases
- Bulk sale items (non-perishable) at the grocery store
- A fishing license
I like purchases that make me money now and in the future:
- A business asset or tool
- Marketing and advertising expenditures
- A business suit
- A financial investment
- Education or skill development
Yes, I always look for Quality and Value, but I take it as far as looking for a return on my purchase . . . so I always ask myself the question found in the title.
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Categories: Money Savers, Personal Finance, Self Sufficiency, Savings, Investments, Frugality
Tags: Automotive Personal Finance Consumerism Self Sufficiency Frugality Investments Money Savers Gardening Frugal Purchase Decisions Savings Groceries
That's a good caution right up front. We can talk ourselves into just about anything, especially if we think about it as an investment.
When I was buying my piano, the sales people always mentioned the resale value as if it was a type of investment. I always told them right up front that I wasn't buying a piano with the idea of ever selling it.
Twenty-seven years later, I still have it, and it looks as good as the day it was delivered. I don't care what it's worth. It's worth a mint to me.
Clair
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My first ex-wife (call her X1) likes to justify things by calling them investments. She now has a whole room full of such things.
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Apparently, not unlike my ex . . .
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