Also, what does your budget allow for? If the least expensive option still leaves you without any wiggle room, another option must be found. Allow for 10-20% flexibility in your assumed expenses to ensure the likelihood that you are accurate. When budgeting, do your best to not spend without being to save. If you have no emergency fund, yet really want a new smartphone, consider setting a goal to reach before buying the thing you want. Time is one of your greatest assets, use it accordingly!
Robert recommends the following next steps:
- Evaluate all known option
- Identify approximate cost for each (with cushion)
- Factor in cost of time
- Budget smart
- Save if at all possible