Time: < 30 Minutes
STEP 1: Make a list of the things that you’d like to purchase in the next 6 months—3 years. Many of those things may be “big” purchases, such as a house, car, motorcycle, home renovation, etc.
STEP 2: Once you have this list, make another list of those things that you NEED within the next 6—18 months. For need, list things that you truly can’t live without. Do not list something that you’d like to have, but isn’t a necessity.
STEP 3: Now, prioritize both lists and put the completion month and year by all of your “things”. For an eye-opening experience, you might total up how much you want to spend on your wants vs. your needs.
STEP 4: Once you know your top 3 need items, determine next steps and look for good deals on the most urgent needs. Put your wants on the back burner. If the urge is still there a year from now, then it may move from the want to need list. If you have a significant other living with you, have them review the want/need list to get their thoughts and feedback.
