The Minimalists are Emmy-nominated Netflix stars and New York Times–bestselling authors Joshua Fields Millburn and Ryan Nicodemus. Alongside their podcast cohost, T.K. Coleman, this simple-living trio helps millions of people eliminate clutter and live meaningfully with less. Learn More.

5 Questions to Ask Before Buying

By The Minimalists

Before committing to the next purchase, ask yourself five questions:

Can I afford to part with this money? If you have to charge it to a credit card, you can’t afford it.

Can I pay the actual cost? Remember, the true cost of a thing stretches far beyond the price on the price tag.

Will it add value to my life? It must serve a purpose or bring joy; otherwise, it does not add value.

What are the alternatives? In other words, is this the best use of this money? If not, then use the money elsewhere.

Can I get by without it for a while? If so, wait. Who knows—maybe a day of contemplation will help you realize you no longer want the thing you wanted. (We call this the 30/30 Rule.)