Rule No.1
Buy only what you need not what you want.
We have to make sure if its a need or a want ? A need is something that we could not live by on to another day.All you need are basic necessities like food on the table,heat,normal clothing,basic transport and of course health.
Other that THINK hard before making that purchase .....
Rule No.2
Buy only with the passive money.
If you have no money to spare do not buy anything that you do not need.If you really want to,then use money from dividends coming from investments or from savings created specifically for future purchases.
Rule No.3
Never use money borrowed from the bank.
These days we tend to spend from the credit given to us by the bank either by easy payments schemes,personal loans,or credit cards.Like it or not as good as it seems on offers,look out for hidden charges from fine prints that most of us never take time to read.
Rule No.4
If you are not sure refer to Rule No.1
Do some window shopping if you really go crazy over something that you want.Do not buy anything but just have a good night sleep and the next morning see how we have gone without it and still survive !
Still not sure go back to RULE No.1
Article by Contributed by:
Rodzman AR,
Chartered Financial Consultant (ChFC),
Syariah RFP,
Registered Financial Planner ( RFP )
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