Money Crashers asked an excellent question today:
What one spending habit would you like to change in 2008?
I came up with a quick answer: Stop buying things just because they’re a great deal.
A good example of my spending weakness is from yesterday. One of Amazon’s Lightning Dealsyesterday was this Sanyo rice cookerfor a mere $59.99 with free shipping. I have a perfectly good basic rice cooker but because it’s basic, there’s no timer. And I’ve thought several times recently that it would be really nice to have a timer so that I don’t have to rush to cook the rice when we get home from work so that it’s ready in time for dinner.
Needless to say, the Sanyo’s features included a timer. And I thought about it. HARD. But in the end, I couldn’t get around this thought: I have a perfectly good rice cooker. I don’t cook rice that often. And that’s $60 that we could put toward savings instead. So, I let the deal expire.
I want to have more experiences like that in 2008. Many more, though not so involved. I want them to go more like this: That would be nice, but I don’t really need it. And then I’ll move on to something else.
So that’s my second Financial Resolution for 2008 (you can read about #1 (paying cash for a new car) here).