This is part of a 30 Day series on getting started. This week we are focusing on the starting living on less.
We live in the time of instant gratification. If you want something you can usually access it immediately or within a couple of days of deciding you need it.
Deciding to rid yourself of the desire for instant gratification is a huge part of getting out of debt. But it will also be a key factor in the process of living on less than you make.
I can personally tell you that waiting it out is far more cost-effective than deciding you have to have something right away.
Take for example my phone. Nope. I don't have the latest and greatest cellphone. I got an iPhone 4 two years ago when everyone else was moving on to the 5. Nope, my phone doesn't have a little voice inside to answer my questions. Nope, it isn't 4G (or whatever the best data speed is).
But do you know what it was? Free! I needed a new phone, I went to the Verizon website and saw the iPhone was free and that was the one I chose.
We have since left Verizon (after our contract expired) and we began using a cheaper provider. But, I still use my old iPhone. It has a cracked screen now and the earphone jack doesn't work anymore. But it still makes phone calls.
That was a lot of talk for me to tell you that when you wait for something you can get it much cheaper than you would have paid for it new.
Waiting until that pair of shoes goes on clearance will be far, far cheaper than paying full price for them new. Or waiting until the end of the season to buy a grill or porch furniture will save you a lot of cash.
What about you? What have you waited to purchase and how did that work out for you?