Because we know we must spend money, and because there are times when you really will find a good deal—many people have saved hundreds or thousands of dollars finding the right purchase at the right time—how do we know when to buy something?

Let me first suggest this: Regardless of how attractive it looks, if you must take on debt, don’t make the purchase. Without the money, it is not a good deal for you. You might be tempted to say, “If I don’t get this now, I’ll never find this good of a deal again.” That’s probably not the case. With patience, you’ll probably find another good deal in the future when you have the money to make the purchase.

But assuming you have the money, let me give you four principles to help you determine when to make a purchase. This is part two. Here is part one.

Table of ContentsFirst, Wait Two (or More) Weeks to Know When to Spend MoneySecond, Do Your Research to Know When to Spend Money Third, Don't Misunderstand “Good Deals” to Know When to Spend Money Fourth, Let God’s Commands Serve as Fleeces to Know When to Spend Money An Example from Our LivesJesus’s ExampleJesus’s Self-DenialJesus’s Patience

First, Wait Two (or More) Weeks to Know When to Spend Money

In our home we found a simple, practical way to avoid making purchases we will regret. We wait a few weeks before buying. Wait two weeks (or four weeks if you really want to be sure) and see if you still want to make the purchase. Obviously, we don’t have to follow this principle for everything we buy, but the lower the price that you are willing to apply this principle, the better the chances that you’ll save money and avoid remorse.

If you wait a few weeks and you still want to make the purchase, there’s a better chance you won’t regret it. Often when people experience regret, it occurs within a few days. Waiting can help you avoid this. You’ll find yourself sitting back and saying, “I sure am glad I didn’t make that purchase,” versus “I can’t believe I bought this.” While I’ve heard many people share their regret associated with impulsive purchases, I’ve never heard anyone say, “I regret the time I spent waiting to buy this.”

Second, Do Your Research to Know When to Spend Money

Doing your research is the only way to know for certain you are getting a good deal. If you’re unfamiliar with the average prices of the item you’re considering buying, then how will you know whether you should make the purchase or keep looking?

Earlier, I suggested you wait some time before buying. This will give you the time you need to do your research. Talk to people who can give you input: “Where there is no counsel, the people fall; but in the multitude of counselors there is safety” (Proverbs 11:14; see also Proverbs 15:22; 24:6). Apply this to your finances. If you’re considering buying a vehicle, who do you know who knows vehicles? If you’re considering a new sink, lighting system, or patio, what recommendations can you receive from friends who are plumbers, electricians, or woodworkers?

Also, be sure to include your husband or wife as you do your research. Your spouse might not be an expert on the product, but this is the person you should trust God to help you more than anyone else in your life. He or she might say, “I don’t think we should do this now,” or “I think we should buy this instead.” Katie and I talk about most purchases ahead of time, and there have been plenty of times one of us, fortunately, put on the brakes. If you’re a child, ask your parents for their advice.

A few years ago, we needed to purchase a vehicle because our growing family could no longer fit in our seven-passenger minivan. We decided to take the plunge and purchase a fifteen-passenger van. I started my research by creating a spreadsheet with columns that included price, year, mileage, and average review from the Internet. I developed a simple formula that allowed me to assign each van a rating based on the data I accumulated.