You're convinced: You really want that Coach handbag. Or maybe you just know that gigantic entertainment center will transform your weekends. So you swipe your card and the dream item becomes yours. You're thrilled!
That is, until a few weeks later when the credit card bill comes, and buyer's remorse hits. You can't help wondering: Was it really worth the price?
Don't get sucked in again! Before you say "yes" to a large purchase, ask yourself these 7 questions:
- Do I have cash to pay for this item?
This question will help you determine if you can really afford the purchase. You need to have liquid funds that can cover the cost of your item. Putting it on credit means you'll be hiking up the price once interest is tacked on, and you'll be reminded of a possibly regrettable purchase for a long time to come.