It’s a never ending life saga for women: To buy the shoes or not to buy the shoes. They are gorgeous, but they cost half your mortgage. You can easily afford them, but you worry that they are an irresponsible purchase now that you have kids and college to think about and retirement accounts that could always use a little extra help. There’s no magic voice that’s going to pop out and tell you that it’s okay to buy the shoes, so instead of hemming and hawing over every purchase decision you make, ask yourself these questions to help you decide.
Do I Need It?
If you’re going to a black tie event and you have no black tie apparel, then yes you probably need it. However, if you already have 12 black tie dresses and you’ve only worn two of them in your life, then you don’t need it. You may still want it, but you don’t need it.
Will I Use It Often?
If you spend every single night mingling with high end clientele hosting parties and making sure that things go smoothly for your PR business and you’re trying to decide whether or not to buy those gorgeous nude heels, you will probably use them on a regular basis. However, if you’re a teacher who lives in flats and your idea of dressing up is to put on a pair of ballet flats instead of tennis shoes, you probably won’t use them often. This helps you decide whether or not your purchase is worth it.
Can I Afford It?
The real question is whether or not you can afford it. You have to look beyond your bank account and the current status of your bills. It’s great that you are up-to-date on your mortgage and car loans and the rest of your bills are paid, but if you have outstanding credit card balances, your savings account is empty or your emergency fund is non-existent; you cannot afford this item.