Should I save or should I borrow - that great financial question!

More often that not, the answer would be dependent on how 'urgently' we wanted the item in question, and how much the borrowing would cost.  Actually, the reasoning would seem to go far deeper than that, the happiness and satisfaction of saving for something which you really want, or just borrowing the money and having self gratification right now.

Do we need to keep up with our friends, gain some Facebook approval (which lasts less than 24 hours) or have that temporary surge of happiness, or would we be better served spreading the whole purpose and process over an extended period.

Saving perhaps for a holiday over 4 years brings satisfaction each month as the balance slowly grows, first 1, then 2, then 3, then all the people are paid for, plus excursions and treats.  Four whole years of happiness, satisfaction and excitement.  Compare those feelings against just popping it onto the credit card one day !

There are some challenging questions below, asking us to reflect on our goals, and see if we really value them as much as we think we do.  Suddenly, your choices will have far more meaning to them...