Richard Drew, AP

There's nothing wrong with spending a little money here and there. But when is too much? Here's a list of questions consumers should ask themselves before they buy something, according to Savingsaccounts.com.

Will this purchase affect paying other bills?
Richard Drew, AP

If this purchase will make it difficult to pay bills, then you should think twice before buying.

Imagine yourself unable to pay a bill. This should help avoid buying something you'll regret later.

Why do I want this item?
Peggy Peattie, The San Diego Union-Tribune, AP

Asking this question can help a person quickly figure out if the purchase is a luxury or a necessity. If it's something for fun, it's probably not needed.

But if it's something that can be used to fix something that's broken or for wrok, then it's probably a good purchase.

Can I rent or borrow it?
Tony Gutierrez, AP

Tools needed for maintenance can often be rented from a local parts store, or borrowed from a friend. If a friend has the product you currently need, then just borrowing it will stop you from denting your bank account.

What can I do with this purchase?
Richard Drew, AP

if the consumer can envision using the purchase frequently, then it's probably a good buy.

But if it's hard to imagine using the product daily or close to it, then buying it probably isn't a good idea.

Am I being pressured into buying it?
Michael Brandy, Deseret News

If a friend or sales associate is trying to get you to buy something, then saying no would probably be a good idea. It's not their money being spent.

Is there something I want more?
Scott G Winterton, Deseret News

Most people don't have an endless supply of money. So if a particular purchase is made, will it prevent you from buying something else in the future?

What if I don't buy this?

Answering this question should let consumers know if the item is necessary. If going without will make life more difficult, then maybe it's not such a bad purchase.

Do I already have one?
Kristin Murphy, Deseret News

Older versions of the product can be just as good, if not better than the new version. If you already have one, you probably don't need to buy a new one.

Do I already have something like it?
Danese Kenon, AP

Buying electronics that do most of the same things that your current electronics already do, isn't usually the best idea. Having a plethora of products that perform the same functions is useless and unnecessary.

Is this the first time I'll own this?
Brian Nicholson, El Observador de Utah

If this is something you're buying based on impulse and you've never owned one before, the odds are not in favor of buying the product.