Frugal Idea #48:What To Ask Yourself Before Making A Pricey Purchase


I started blogging about my personal financial situation almost two years ago (time sure does fly!). I was sick of being in debt, living paycheck to paycheck, and always comparing myself to others in regards to how much I should be making or how much money I should have in the bank account. I took my readers on my journey to paying off all of my consumer debt, paying off my student loans, and finding ways to live more consciously in regards to how I spend my money.

Since this journey started, I have been touched by so many people. Whether it was a co-worker who informed me that she subscribed, a new Twitter follower, and/or a new like on Facebook, I am truly grateful. I took my passion to the next level and attended my first FinCon in Charlotte, North Carolina in 2015 where I was able to meet so many like-minded individuals and was inspired by their passion. Each post I write, I only hope it touches one other person so that he or she may experience what I felt: a sense of control and a sense of peace. It is quite amazing how much your life changes once your stress levels are in control.

With that being said, I have expanded my network and want to expand yours as well. I have a guest writer for Frugal Idea #48. Her name is Stacy Miller. She wrote me an email and tweeted me that she read my blog and wanted to contribute to it. How can I say no? This can be a journey for all of us. Let us all help each other to live the life of financial freedom we all have envisioned.

Alright, Stacy….take it from here!

About Stacey Miller:

“Stacy B Miller has been working as a content developer and editor at Oak View Law Group for the last 4 years. Besides writing financial articles, she loves to cook and explore the whole world with her family.”

What To Ask Yourself Before Making A Pricey Purchase

Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like”. – Will Rogers

Nothing blows your savings faster than a large purchase. Now, the definition of a large purchase varies from a person to person. But usually, a car or a house are considered large purchases within your lifetime. They can be a great addition to your life, or perhaps a bad decision and the worst addition to your life leading to regrets. Words such as “regret car purchase” pop up in the Google or Yahoo search engine results every day. So, it is better you conduct the large purchase the right way.

But how can you possibly stay away from a financial disaster when purchasing something that costs 5 figures or more? Well, congratulate yourself! You have come to the right place. I have created a list of questions you need to ask yourself before making a large purchase. Hopefully, the answers to these questions will help to avoid a financial catastrophe.

  1. Am I stressed or depressed?

You are likely to make a big purchase when your emotions go haywire. Sorrow, depression, divorce, death can make you too emotional. When you are extremely sad, you might start feeling that a large purchase is what you need in order to reduce your emotional pain. But, you are wrong. You will regret your purchase later. So, stay away from online shopping portals and shopping malls when you are stressed or depressed.

  1. Do I want to have it even after several weeks?

Ask yourself if you want to buy and use the product in the future too. Try waiting for 7 days before making a large purchase. Give yourself some time to think. This is called the cooling-off period. If you are still obsessed with the product, then take the follow steps:

Extend the cooling-off period

Wait for discounts

If the discount appears, grab the opportunity and buy the product. This would help to protect your savings.

  1. How am I doing financially? Can I afford to buy this item?

Some bad financial habits can make you bankrupt. Again, some bad habits can leave you with a good financial health. Check your financial health and find out if you can afford to buy the item. If you want to buy a home, ask yourself if you can make a down payment and mortgage payments every month. Ask yourself how secure your job is right now. How would you make mortgage payments if your income drops? Do you have a Plan B to avoid a foreclosure or bankruptcy? Do you have a sizable savings account in your bank account? Can you save your home and take care of basic living expenses even in the worst financial scenario?

  1. Have I checked out the reviews?

Have you checked out the online reviews of the product? Do you know if the product is worth the money? What are the most common complaints about the product? What are the recurrent issues people are facing? Remember, you are going to spend a lot of money for the product. This is a large purchase. So, you should buy a product that has the best features. Check out the durability of the product and the resale price as well..

  1. Do I fancy the item or truly need it?

Ask yourself these questions.

Do I need this item?

Can I survive without it?

Is it just a luxury purchase?

If you have money and can afford a luxury purchase, grab the deal without hesitation. But if you do not have money, then just forget about it. Of course, it will take a lot of willpower. Just remind yourself, you would lose the chance of buying several other things in life just because of one large purchase. If you truly need the item, then decide why and when you need it.


Ask yourself the aforementioned questions before making a big purchase. The goal is to know if you truly need the item. Even if you do need the item, ask yourself about the ways to obtain it at a lower price. Answer the questions honestly because you cannot lie to yourself. Besides, you would risk your financial health in the long run. I’m sure you would never want that to happen in the future.


Frugal Idea #37: Freedom!

This blog is dedicated to freedom from credit card debt! Life has changed so much since the burden of debt that weighed me down for years and finally left my life. As most of you know, on Sundays, I enjoy catching up on guilt free TV. Prior to the TV binge, I try to catch up on house chores. To stay focused on financial goals, I run searches of YouTube videos related to wealth, minimalism, or frugal living. I plug my laptop to my speakers and instead of music, I am surrounded by sounds of advice to manifest my life into financial freedom.

Here is a video I ran into today How To Get Out Of Credit Card Debt” by Love Raw Vegan. What stood out to me most was when she mentioned the guilt and insecurities. It is so true. You do have a sense of shame when you owe so much money and losing even more money when you consider the interest you owe each month. Once you gain control of your finances, your confidence will go through the roof! I hope her tips help you towards your goals. My current goals: attacking the student loan and saving for a down payment! What are your goals?

Frugal Idea #29: Embrace it, live it

I spent one hour in a car with someone who spoke my language.

He wanted to save, grow his net worth, and share his vision. So he invited me to a free 1 hour seminar on retirement. Of course, I accepted his invitation. My friend hitched a ride from me and we drove in typical San Francisco traffic which allowed us to have a very deep conversation. After catching up on our personal lives, asking who we were currently dating, & what fun activities we have recently accomplished, our conversation switched to his relationship with his Financial Advisor, mutual funds, and my dreams of creating a personal business.

My journey of frugal living, increasing my net worth, eliminating debt, saving money, creating multiple streams of income, becoming a better sales person, and entrepreneurship started not too long ago, but my passion seems to seep out of me more than ever presently. I truly believe in who you choose to surround yourself around with will influence your life, I believe that your thoughts become actions, and what actions you conduct become results of the life you live. At one point in my life, I was jealous of the rich and the successful and assumed they had it easy. I assumed they were born wealthy or at least were privileged to have access to more things in life. So for years, I played victim. I finally decided that I was in control of my own destiny. I wanted to look up to people who overcame many obstacles in their lives – celebrities and within my own circle. A good friend once told me that he chooses to not spend a single minute with anyone who was negative and did not add value to his life. I now choose to do the same. I choose to surround myself around those who also strive to improve their lives, value their time, and think positively. I admire those who are successful and instead of resenting him or her, I now ask, how did you do that?

So, this past year, I decided to brand myself as someone who is open to learning, open to receiving, and in return, share the knowledge I have gained. I started following blogs that inspired me (along with commenting and liking their posts), follow Tweets that reminded me of my goals, read every single day about a topic I did not understand (for example, bonds – what are those?), and watch/listen to videos, that shared my passion. I hope these videos inspire you in some way.

Video #1: When You Know Better, You Do Better – this video means so much to me. It shows that whatever mistakes you have made in the past, you can forgive yourself. That includes playing the victim, accruing so much debt, or making bad financial decisions. Whatever you have done, it is ok. You simply did not know better. What you did then does not reflect the person you are today. When you know better, you do better.

Video #2: Saving Money – The first financial book I ever read page by page was a book by Suze Orman: The Courage To Be Rich. I ordered it randomly via and it really has changed me. Suze was a waitress and changed her life around. Becoming a successful business person, she still found herself in a lot of debt and a situation she described struck me. She was at a restaurant and the waitress who served her probably made less than she did salary wise, but her net worth was definitely worth more. Here is a quick snippet of Suze!

Video #3: The Law of Attraction – A coworker once introduced me to “The Secret” by by Rhonda Byrne. I did not believe this at all. Fast forward years later, I now understand. What you think, feel, and do goes out to the Universe and it is returned. Once I changed my energy, the people I surrounded myself with, my thoughts and my actions, my life has changed. I was changing what I attracted into my life. This video is an example of what I choose to listen to while I clean or make dinner versus television that may not add value to my life.

Whatever it is you choose to do and have passion in, embrace it and live it. Only you can live the life you want. DREAM.

About the Blogger:


Neville (Nev) Bendiola grew up in the Mission District of San Francisco, California until the age of 10 before relocating to Sacramento, CA.  Growing up in a low income family, he slept on the floor most of his young life until he got his own twin size bed at the age of 10 – a memory he will always remember. Nev relocated back to San Francisco for college where he continued on in a career in Staffing Sales and Recruiting. Achieving financial success, he spent more than he earned using credit cards along the way. He found himself  carrying debt through the recent recession. Inspired by friends and reading success stories online, Nev moved into a Studio apartment in San Francisco’s Tenderloin district where he minimized his spending and material items. He is currently focused on saving money and sharing the ride with his readers along his journey to financial freedom.


Twitter: NEVBB