Investing in Philippines: Ways To Be Debt-Free: Choice Conscious


Monday, April 2, 2012

Ways To Be Debt-Free: Choice Conscious

I have a headache!

Headache after having lots of choices

For several weeks now I have been clicking and un-clicking the criteria I used in searching for the laptop/notebook I am buying together with the DSLR camera.

Why this gives me a headache?

One because I am buying on a budget and second is I have features I wanted but not in the laptop that the criteria selector filters.

For the DSLR camera I ended up with Canon T3i as it  is the most suggested and it has the basic and advance features a novice like me can handle. I was able to hold, use, play, and shoot with one when I last visited my family in my sister's (my aspiring photographer sister) wedding courtesy of my niece's own camera. It is really different when using it because of the clarity and the feel (yup it is bigger than the usual digital camera).

As for the laptop, I want something that will last at least 6+ hours, has an optical drive, and at least not more than 6 pounds. And it would be very nice if it could be an Asus (sorry I become an Asus fan when I bought my second laptop which has served me since 2008).

But wait, why I am posting about spending when this post is supposed to be about being debt-free? Well as the post title says even if you have already achieved financial free status it doesn't me you go back again to your merry days of impulsive buying. In order to maintain and attain greater heights in your life's financial aspect you have to be conscious of your buying or spending.

So how can you have a choice conscious attitude?


Well as most people say "always go for the value of your money". This is something that could be difficult to define specially in this age of multiple choice. It is not anymore this or that but rather we have all that fits your needs. It is very advantageous to have a choice but very harmful when you can be drowned in so many choices thus a lot of people end up with something that they don't actually need or that is something overpriced.

There are two things I consider when facing a tough choice:

1. Does it have the features/qualities I need
2. Is it within my budget.

I believe most people make a mistake when they rank price first than quality when making buy decisions. For me ranking the choices by the feature/quality first actually is a better way of making a good buy decision. When you have established a ranking by feature/quality that is the time I start opening the covered price tags (so to speak) and from there the choice that satisfies my requirements first and is affordable becomes my pick.

This same principle applies as well in stock investing. As a stock investor we should first look at a stock's true value and not rush into it because it is cheap or because its price is trending up. A lot of traders and investors who ride a risky stock but trending stock get caught up when the risky stock's price suddenly plummet. As most stock investing gurus will say "we will see who are the men from the boys" in such situations.

As for me I have made my choice already but still I am thinking of the price. Buying a faster and longer lasting laptop would be good especially if I am traveling because I will be able to use the laptop linger without the need to plug it and thus maximize the waiting time (click here to learn more about NET time). On the other hand as a blogger it would be very helpful if I post images that are not from the web for originally and also I can sell my photographs. I did once try to sell some of my photos shot here in Guam with my digital camera but the website that accepts photos and resell it declined my submission due to quality issue thus having a DSLR camera would be helpful. Also as a person who in a way do online marketing through my blog having original photos where I can set up an image to my liking is a very helpful way in conveying my message and brand as a blogger.

But still it gave me a headache. 

I remembered by teacher's advice in the seminary that in writing it is a good practice to give your writing at least an overnight break so that you have the chance to see your errors and be able to revise it. With that I will be giving my credit card another day before I finally put in my credit card number and click buy in my cart in the online web store. 

1 comment:

Pinoy Investing said...

my laPtoP is Asus din HAHA