by Dawn Hawkins

Created on: September 10, 2009

Instant gratification got people in a deep mess when they started losing their jobs. The reason for this is there were huge balances on credit card bills that couldn't be paid off. Spending more money than you have is rarely a good idea. Other than purchasing a car or a home, there really is not need to spend on credit. Waiting until you have enough money to buy something can make all the difference in the world when you find your back against the wall.

Here are some of the reasons it is better to wait until you have enough money to buy something:

No Extra Fees

Using credit cards means that you will owe some kind of fees along the way. Unless you are able to pay off a credit card as soon as the bill comes in, you will be paying more for a product than what is on the price tag. At a very minimum, you will have interest payments to make. These rates can be extremely high. They can also make it very difficult to pay off the debt. Why spend more for the product just because you want something right away?

The Longer You Wait the Newer the Product

If you purchase the product before you actually have enough money, you may be doing a disservice to yourself. Saving the money to get what you want means that new technology may be added by the time you get the money. That means you will have a more current version while everyone else has the older version.

It Feels Good

One of the best things about waiting until you have enough money to buy a product is the satisfaction that it gives you. There is nothing like the feeling of buying something you really want and not having to worry about the bill later. The money that you would have spent on those bills can now be put into a savings account for future use. Not too many things feel better than that.

It's Yours

If you buy something on credit, it isn't really yours until you pay off the bill. It can take years to pay off even the smallest of debts. If you purchase it after you have saved enough money to pay cash for it, you can do whatever you want with it because it is in fact yours. You can't own something until you don't owe anything on it.

Freedom

Waiting to buy something until you have enough money to do so is better because it gives you freedom from all of the hassles debt creates. It makes your life much more stress free. It also gives you the freedom to do what you want with your paycheck when you get it rather than being tied down to a credit card. It's much nicer to know you will be able to take a vacation without worrying how it will affect your debt.

It is much better to wait until you have enough money before buying something. It alleviates so many worries and saves you a ton of money in the process. It's like giving yourself an extra special gift. Don't tie yourself needlessly down to credit card debt when the alternative is so much better for you.

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