Affiliate links may be used in this post. Ordering through these links may result in a commission, which helps pay for the cost of running this site and keeps the content free.
Every couple goes about large purchases in different ways. Some couples have their own spending money and as long as they stick with that budget it is okay. Other couples spend as they please, where other couples stick to a tight budget and plan for larger purchases.
For Ryan and I we have a monthly “allowance” that is in our budget that allows us each to spend it as we wish. Although we often don’t use it as we are both are naturally non-spenders. We always check with the other one, do research and have some wait time before larger purchases.
No matter how you and your guy approach your spending these are 5 questions you should ask each other BEFORE a big purchase.
1) Do we need this?
Honestly answer this question. Is it a want or a need? There is nothing wrong with purchases that are wants. However, it may make the decision process a little different.
2) Can we afford this purchase?
Again, this question has to be answered honestly. Asking yourself, “Can we afford this right now?” and “Can we afford this?” are two different questions. You may be able to afford it with proper planning and saving, but not at that moment. And that is okay. Plan accordingly.
3) How will the purchase affect us (financially and otherwise)?
Take into consideration how the purchase will affect you, your mate and your family. If you saved for a newer car it may not affect you much financially. It might however affect the way the family dynamic flows if you now have two cars instead of one. Or consider an iPad purchase. It will be great to take on vacations instead of lugging the laptop, but what will be the expectations of using it during the week so it does not have negative consequences for your family.
4) Have we exercised a wait time?
I believe it is a good rule of thumb to practice a wait time. I can’t tell you exactly the amount of wait time that is appropriate as I think it varies depending on the amount of the purchase and your financial situation. I can tell you though that it is important to designate a household wait time. This allows you to think clearly about the purchase (and ask these 5 questions) instead of making a spur of the moment decision. This helps with regretting purchases later as well.
5) Will this purchase help us serve others?
I acknowledge not every purchase we make will help us serve others. I also acknowledge that you can answer yes to this question yet not really use it to help others. This comes down to your lifestyle in general. With Ryan and I believing that we are here to help as many people that come across our paths this is a question that is a must in our book.
There you have it- 5 questions that you should ask each other before making a large purchase. When you consider these questions open and honestly with each other I know it will make a huge difference not only in your finances, but also in other areas of your life.
What is a question that you ask each other before a big purchase?
Until Next Time- Truly Love,
Cassie

Leave a Reply