when you begin a business you should not splurge on a luxurious lifestyle. Give reason
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Here are a few points that you should contemplate before making that big splurge.
1. The need
Do you really need the product - This should be the starting point. Think of the real reason why you are buying it. Is it because you are passionate about it? Is it because it would make your life much easier? Or, is it a long cherished dream? If it is one of the above reasons, then you can consider going the lengths. However, if it is simply a status symbol, the sheen of the product will die before you even realise it and there will be another new product crying for attention.
Now, consider if you can save the money to buy something worthwhile later?
2. The money
Luxury products can burn a hole in your pocket as well as your savings. Ask yourself two questions - how much money do you have? Is it enough to buy that product?
Of course, you have an option to buy luxury items in monthly installments, but does it mean you will have to pay a small chunk of your earnings towards it.
So, before you jump your guns and take the big step, spare some thought for your finances. If you feel that you can afford the product without landing in a financial quandary, then you can go ahead and make the splurge.
3. The necessity
A need is one thing and entirely different from necessity. Consider how vital this luxury product is in your life. Will it change the course of your life? Is it not possible to go forth in your life without this product? Is it really a make or break situation? Is it something that you need urgently? In case you answer in the affirmative, then it may be worthwhile to buy the product. However, luxury products are usually not a necessity which is why they are named so. Thus, think before you splurge.
4. The trend
Most luxury items are simply a trend that changes in a matter of time when a newer version of your product is made available. Moreover, as a modern versions hit the market, the previous version diminishes in value. Do you really want to be a part of this rat race where you may end up paying a huge sum for something that would come down to a lower price in the next few months? This is something you should consider since you are breaking the bank to buy the product.
5. The alternative
Considering the popularity of luxury products, numerous companies are now offering the same features for a lower cost minus the brand name. Take some time to think as to whether you are buying the luxury item just for the brand or for the features that it offers.
In case, you are all out for the brand name then you can make the big purchase. However, if you are hooked to the features and the efficiency of the product, then it would be wise to opt for a cheaper version. You would not only get value for money, but will prevent yourself from an unnecessary splurge.
The Seven Wonders of the World are a group of places around the globe that are considered to be of great importance. These are: The Colosseum in Italy, Petra in Jordan, Chichén Itzá in Mexico, Christ the Redeemer in Brazil, Machu Picchu in Peru, Taj Mahal in India and The Great Wall of China.