Here is a point of view many people do not ask themselves as they contemplate purchases! How are you sitting financially? Before you buy more stuff, ask yourself these questions.
Am I paying all my bills on time?
Do I have a rainy day fund equal to three to six months' salary?
Can I pay off my credit cards in full each month?
Can I afford to pay a $2000 car repair bill immediately without using credit?
Why am I renting storage or using a storage building?
Do I have escrow savings accounts equal to or greater than the combined total of my medical deductible, vehicle insurance, homeowners/renter’s insurance, and the associated deductibles?
If you were to get hurt and be unable to work for a year or more, do you have enough saved not to lose everything?
If I had to move today, do I have enough for moving expenses, first and last month’s rent, and a deposit?
Am I saving money every pay period to be self-sufficient?
Unless you are in a good place financially, don’t buy more stuff. Dreams die when you are barely keeping your head above water.
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