5 why or how to stop spending too much?

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bez nazvanija 17

Rustam Aksyanov, co-founder of Fingram, is in touch.

There is a very cool technique, thanks to which you can make almost any decision. In global corporations, this technique is taught to personnel, and many decisions are made using this technique. And it can help your personal budget!

Do you think the technique is applicable only in large corporations, and in real life it cannot be applied in any way? How can you apply it, and this technique works especially well in personal (or family) finances!

We recommend using it when you are planning to spend and especially in a situation where you or your family are trying to make spontaneous, unplanned purchases. This often happens during sales.


Recently, my wife and I went to a sports hypermarket as we needed to make the planned purchases before our trip. Usually we buy everything online to save time, but here we needed to shop in the store and needed a long fitting.

It turned out that we were in a sales period, and I had time to watch the buyers. Many of them made completely motley purchases – from skis (well, this is understandable, get the sledges ready in summer) to new bicycle tires and clothing for mountain tourism.

Moreover, it was clear that almost none of the buyers would need all this equipment and clothing in the near future, many bought out of emotion because of 50% discounts and hoped that they would take up these sports, since there was suitable equipment and clothing.

If they used the “5 why” technique, they would save some of their money.

The technique is very easy and I will now explain it to you with an example:

For example, you also found yourself on a sale, and now you are deciding whether you need a new smartphone now, which you were not going to buy, but now it has a great discount. For example, 50% off the regular price.

For this price, you get a gorgeous smartphone. What decision will you make?

Let’s try to run this idea through the “5 Whys”:

  1. Why do you want to buy this smartphone?
  • Because I want to surprise my colleagues.
  • Why do you want to surprise your colleagues.?
  • Because I want to draw attention to myself.
  • Why do you want to draw attention to yourself?
  • Because I have nothing to surprise them with yet, I feel insecure.
  • Why do you feel insecure?
  • Because I want to realize myself in the profession.
  • Why do you want to realize yourself in the profession?
  • Because I don’t like the job I’m doing.

Well, where is the new smartphone? After all, the point is in the profession you are engaged in. By the 5th “why?” the real problem is always found out.

Let’s take another example. For example, you find yourself on the same sports sale as me and find a 50% discount on skates. For example, skates cost 15,000, and now they cost 7,500, and thanks to coupons, you can pick them up for 5800. Gorgeous skates for a price several times lower than the market price. Let’s drive it through “5 why?”?

  1. Why do you want to buy these skates?
  • Because I want to ride them.
  • Why do you want to ride them?
  • To get back in shape.
  • Why do you want to get back in shape?
  • To feel healthy and energetic.

On the third why, I think it is worth closing. If you know for sure that you will be skating on these skates and this purchase motivates you to take up your physical form, and not just lie in the closet, you need to make a positive decision. If you are not sure about this and you do not have extra money, then 4-5 why, with weak answers, they will tell you that you should buy something else or it is best to save this money. Read about how to spend money correctly so that it will benefit your personal budget in our blog.

This was one of the simplest techniques that will help you make almost any financial decision, and most importantly, save your finances from spontaneous purchases.