Personal Finance: Cutting the loop (2)

Let me tell you a short personal story that made me change my perspective about many things:

When I was 14 years old, it was the very beginning of advanced smartphones, and I was totally obsessed with smartphones.

I was following smartphones' latest news and checking every mobile.

Every time I said: "This is it, I want this mobile"

I find an even better one, so I say to myself no I want this one, and as you assumed after a day or two I'd find an even better one

Here I understood that this is a loop that will never end.

There will always be newer and better products, and if you buy the latest for example a mobile phone now after a couple of months it could be less than normal.

So, if you'd go with the "latest products" the "most fancy" ones, you'd never have enough, you could actually go like this forever till you go bankrupt.

To be able to cut this loop you need to follow a simple principle:

"Seek Functionality"

So instead of thinking about buying the latest mobile, try to think what do I need the mobile for, what are the most features I need in a mobile?

For example, I'm searching for a mobile with a decent camera and a good battery at an affordable price.

When you know exactly what you want, you never turn again to thinking like me when I was 14

The mobile was only an example but really this principle would apply anywhere.

To recap:

"Don't go for the latest products or the fancy ones, seek functionality"

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