Next Paycheck

Checklist

10 questions to ask before buying something, and a free checklist

You don't need a budget meeting before every purchase. You need about ten seconds and the right questions. Here they are, in the order that catches the most impulses.

3 min readBy the Next Paycheck team

Quick answer

Before buying something you didn't plan for, ask: Do I need it or just want it right now? Can I afford it after the bills due before payday? Would I buy it at full price? Do I already own something that does the job? Will I still want it in a week? If you hesitate on any of these, wait 24 hours before deciding.

Most impulse purchases aren't bad decisions. They're non-decisions: something looked good, the button was right there, and the order went through before any thinking happened. Asking a few questions puts the thinking back, and it takes less time than the checkout.

The 10 questions

  1. Did I plan to buy this today? If not, the rest of the questions apply.
  2. Do I need it, or do I want the feeling of buying it? Be honest about the mood: bored, stressed, tired, celebrating.
  3. Can I afford it after the bills due before payday? Compare the price with what's safe to spend, not with your balance. The safe-to-spend calculator works it out.
  4. Would I buy it at full price? If the discount is the reason, it isn't a saving.
  5. Would I buy it if I had to pay cash? Saved cards and "pay later" make spending feel painless. Cash makes it real: in one classic experiment, people told to pay by credit card were willing to pay up to twice as much as those paying cash.
  6. Do I already own something that does the job? Check the closet, the drawer, the garage.
  7. How often will I use it? Divide the price by the uses you'll realistically get. Our cost-per-use calculator helps.
  8. How many hours of work does it cost? A $90 jacket can be a full day's work. See the price-to-hours calculator.
  9. Where will it live, and what will it replace? Clutter is a cost too.
  10. Will I still want it in a week? If you're not sure, put it on a list and find out. That's the 24-hour rule.

The 10-second version

Ten questions are great at home. In a store, or with your thumb hovering over Buy, you need three:

Did I plan this? Can I afford it before payday? Will I still want it next week?

One "no" and it goes on a list instead of in the cart.

Printable before-you-buy checklist

Print it, cut it out, and keep it next to your card. Tick every box before you pay.

  • I planned to buy this today
  • I need it, not just the feeling of buying it
  • It fits what's safe to spend before payday
  • I'd buy it at full price
  • I'd buy it if I had to pay cash
  • I don't already own something that does the job
  • I'll use it enough to be worth the price
  • It's worth the hours of work it costs
  • I know where it will live
  • I'll still want it next week

When the answers are "yes"

Sometimes they will be, and that's fine. The point of the checklist isn't to stop you buying anything ever again. It's to make sure that when you do spend, it's on purpose, with money that was actually free to spend. A planned, affordable purchase you'll use is exactly what money is for.

Ask Pork instead of yourself

The hardest part of a checklist is being honest with it. Pork has no such problem.

  1. Type what you want and the priceOn the Ask screen: "Wireless earbuds", "$89".
  2. Get the verdictPork checks it against what's safe to spend this paycheck and the days until payday, then turns it down with a roast. In Comedian mode it usually spells out what the purchase would leave you.
  3. Decide, then log itTap Resisted or Gave in. Either way, it's on the record, and resisted asks add up as money avoided.
  4. Share the roastTempted friend? Send them Pork's verdict as an image.
Pork's verdict on an action camera, with the math left for the rest of the paycheck

Frequently asked questions

What's the single best question to ask before buying?

"Would I buy this if it weren't on sale, and if I had to pay cash right now?" It strips away the two biggest pushes behind impulse buys: the discount and the painless checkout.

How do I talk myself out of buying something?

Delay first, then question. Put the item on a list, wait at least a day, then run through the checklist. If you still can't decide, look at what the price would leave you until payday, or how many hours of work it costs.

Is it bad to buy things just because they make me happy?

Not at all, if it's planned and affordable. The questions aren't meant to ban joy; they're meant to catch the purchases that feel good for ten minutes and cost you for weeks.

Sources & further reading

  1. Always leave home without it: a further investigation of the credit-card effect on willingness to pay (Prelec & Simester) — Marketing Letters, 2001
  2. The red and the black: mental accounting of savings and debt (Prelec & Loewenstein) — Marketing Science, 1998
  3. Impulse buying: design practices and consumer needs (Moser, Schoenebeck & Resnick) — ACM CHI Conference, 2019

Next Paycheck is a budgeting and spending-accountability tool, not a bank or a financial adviser. This page is general information for educational purposes, not financial, legal or tax advice: your situation is your own, so consider a qualified professional before major money decisions. If debt feels unmanageable, a nonprofit credit counselor can help, and if shopping feels out of control or is causing you distress, it is worth talking to a doctor or mental health professional.