I took some frugal steps before the purchase:
1) It fulfills a determined want/need
2) I waited more than a week to inquire about the item
3) I waited another 3 days before deciding to look at it in person
4) I checked the budget
5) I withdrew cash and split it so I knew my offer price and my top price
6) I looked at it in person
So, you ask...what was this?
It was, and is something super cool.
It is an old hotel safe with "safe deposit" type boxes in each little locking cubbie.
The locks all turn, and have keys. It's so fiddly and oak and heavy.
Here's how it fits in with the above frugal steps:
1) It fulfills a determined want/need -- I wanted something cool to put my silverware and other small kitchen things in when I finally get a real house built. I have items to make shelves and a countertop but no drawers or small item mouse proof storage. I was looking for something unique to use for that. This should be it.
2) I waited more than a week to inquire about the item -- I saw it on craigslist and I waited and thought about it before contacting the seller.
3) I waited another 3 days before deciding to look at it in person -- Once I did contact the seller and determined it was still available, I let it go another few days.
4) I checked the budget -- self-explanatory
5) I withdrew cash and split it so I knew my offer price and my top price -- it cost a few hundred bucks. So, I pulled as much as I was willing to spend, put as much as I WANTED to pay into one of those bank envelopes so it looked like I had a hard budget. The rest was in my pocket in smaller bills. The combined total was the max I would willingly spend.
6) I looked at it in person -- I had a list in my head of disqualifying traits: smells like cat pee, animal damage, bat/rat/mouse crap inside, urethane finish on it, rusty hinges, etc
It was/is in pretty good shape, certainly for the age, did not stink, had the expected level of dirt on it from being old and has an original varnish finish which I prefer.
I tried the bank envelope trick but the dude was hardcore and I had to pull money out of my pocket. I spent 75$ less than my top dollar, but more than I had hoped.
With something like this there is also the "out" of reselling if things go awry. I could recoup at least part of the money.
So far, no buyer's remorse. I really like it. It fit into the storage unit so no additional cost to keep it until I can put it into use.
