7 Questions to Ask Before Any Purchase Over $100

Part 3 of 4 · 2 minute read

5. What is the real total?

The price is the start, not the end. Add delivery, tax, the case or the accessories, the subscription it needs to work, the insurance, and the running cost. A $400 printer that needs $80 of ink a year is an $800 printer over five years. The second number is the one you are actually agreeing to.

Do this today: write the five-year total next to the price. Make the decision on the big number, not the small one.

6. How will I pay for it?

Cash you already have is one price. Credit you will carry is a higher one. A $500 purchase paid off at the minimum on a typical card can end up costing well over $700. If the plan is "the card", the real question is whether you would buy it at that higher price, because that is the price you are choosing.

Do this today: if you cannot pay in full this month, the answer is "not yet". Save for it. The wait is the 48-hour rule, extended, and it works the same way.