Time, money and attention are limited resources. Corporations usually are after these things because they know that when they control one, they can get all three. Our culture indoctrinates us to buy, buy, buy.
In my experience a lot of my purchases that resulted in disappointment is because the product I purchased is a solution to a temporary need or I find better alternatives after I have made a purchase or in some situations the product breaks or performs poorly.
Enter the puppy dog close and the if you compute the return of investment in five years or ten years imagine how big the savings.
We also get crappy no return or no exchange policies.
We buy permanent solutions to temporary problems. I recall buying several items I thought I’d use regularly but ended up sitting in the storage.
Here are some alternatives to ownership:
1. Going without – ask yourself if what you intend to buy is really necessary. If the answer is no just go without it. I take this a step further by asking myself what the worst consequence of not buying and then evaluate option two and three.
2. Using what you have – chances are you have what you need to deal with your situation.
3. Renting – while a lot of people will argue that owning saves you more money than renting, the answer depends on what your priorities are and what your situation is. Here are some scenarios where it makes more sense to rent than to buy.
Car- if you can work from anywhere you won’t need one for a daily travel to work would you still need it?
House – if you work from anywhere and travel the world, would you buy big or just pay as you go?
Entertainment system – if you have great work and have a close bond with your important relationships chances are you wouldn’t want to spend much time here.
Do you have other alternatives to buying?