Hobbies And Interests
Assess Your Need
First and foremost, decide whether you really need this item. If it isn't something you really need, choose whether it's something you want more than other things that can be purchased with the same amount of money.
Research
If this is a big-ticket purchase, do some research. Look at consumer websites for reviews of the product and similar ones. Check out consumer rating sites that do independent research to see how the item rates for quality, longevity and overall value. Ask family and friends if they have a similar object, or know someone who does. Ask them these questions: Are they happy with it? Would they change anything? And most important, would they buy the same item again?
Cost
Think about whether this item is something that you could borrow from a friend, or barter with the seller. It might even be possible to ask the merchant for a discount or a trade. If the item you are contemplating is not something that can be borrowed, bartered or traded for, make sure you have found the best deal. Research the product online. See what the average price is for a similar item, search for online coupons and discounts, or ask someone whether the item might be found at a better price in the future.
Find Your "Out"
Know whether you have an "out." Determine what steps would be needed if you aren't happy with your purchase. You need to know whether it can be returned, under what conditions and how long you have to do so.
Sleep on It
You now know you need and want it, you know it is a good value, you have found the best deal you can, you know your way out should you need it -- at this point there is only one thing left to do. Sleep on it. If in the morning -- after that coffee has driven the fog from your brain -- think for a moment. If all of the aforementioned things still hold true -- go get it.