Making a big purchase

A short sequence that keeps a large purchase a decision rather than a reaction.

Big purchases go wrong in the same three ways: the requirement was never written down, the alternatives were never compared, and the decision was made in a shop. This checklist closes all three.

Decide what, before you look

Requirements first, options second.

Write down what the item must do, in your own words
Name the two realistic alternatives (including not buying)
Set the budget before you start browsing
Decide the exact model or specification and stop looking

Check the money

What it costs beyond the sticker.

Ask what else the money could do Run the opportunity cost tool if the sum is significant.
Check whether it needs borrowing, and what that adds
Work out the cost per use over the years you expect to keep it
Compare against renting, borrowing or a subscription
Add the running costs: insurance, accessories, upkeep

Cool off, then buy deliberately

The rule that catches most regrets.

Wait a few days, or a week for anything large
Check the return window and the warranty before paying
Buy at the price you planned, from a seller you can reach
Keep the receipt and the delivery note

Making a big purchase

Decide what, before you look

Check the money

Cool off, then buy deliberately

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