Buyer’s remorse
Lots of people shop emotionally instead of with their heads, buying stuff they don’t need because they’ve had a bad day, had a great day, or been with someone who is very convincing - be it a salesman, a best friend, or a wife/husband with a itch to acquire.
So, have you ever bought something you just couldn’t live without and afterwards find yourself scratching your head and wondering, what the hell was I thinking? Then you’ve experienced something called “buyer’s remorse.”
Want to avoid that horrible sinking feeling, the guilt, the wish-I-could-take-it-back sense of waste? Here’s what you should do.
1. Make a list, and never buy anything that’s not on your list. If you see something you really, really want, add it to your list.
2. Once you’ve added it to your list, go home and sleep on it. If you want it tomorrow, go to step three.
3. Do some research before you buy. Buyer’s remorse often climbs on our backs when we find out we’ve paid too much for something. Make sure you know how much the item you’re buying is really worth.
4. Get a second opinion. Take your sister, your best friend, your mom or dad with you, and ask if they think it’s worth the price.
5. If there’s any financing involved, figure out what the item will end up costing you once you’ve paid the financing charge. If you don’t do this step, you’re deluding yourself and you deserve to feel like a dope.
6. Ask yourself, “Do I need it, or do I just want it?” If it’s a need, put it on your list in a position of priority. If it is simply a want, it goes at the bottom of your list. Take care of your “needs” before you start scratching your “want” itches.
7. Ask yourself, “What else could I do with the money I’m spending on this item?” Are you working towards a goal that would be served well by this money? Is there another priority that should take precedence? Put your money where it will do you the most good.
May 8th, 2008 at 11:26 am
As always love it, love it, love every word you put down Gail! One more tip - once you have decided to buy the item because it is a need - always ask if you can get a better price than what they have it on for - you may be pleasantly surprised, like I was when buying a new stove, the old one had passed away a few days ago and repairs were going to cost more than a new stove.
Did my research, armed with all the prices and offers I had found in the city and surrounding towns, I went to my local appliance store, and set all the paper work down for them to see - not only did they match the lowest sale price at the other store, they beat it by 10%, they included free delivery, free set up and free disposal of the old stove! Hurrah! I have converted to Gail-ism - the newest religion on the planet!
May 8th, 2008 at 1:00 pm
I have recently made a list of need/want items: a couple are in the proverbial gray area, e.g. a bike. Although with the price of gas going nowhere but up these days, I’m thinking it would be a worthwhile investment.
But I live where there are limited resources and options for bargaining or purchasing items. I HATE Wal-Mart, but it is literally one of the only places in town that I can buy “cheap” items. I have managed to avoid it at all costs so far this year (I’m on my own personal boycott), but I have recently found an item there that I need (table & chairs), so I will have to buckle and buy. The local Sally Anne has seemingly rid itself of furniture…
Still, a list is the first step! And would it make sense to use some of that “leftover” money from the jars to go towards buying a need?
May 8th, 2008 at 1:24 pm
I agree….lately I have been trying to learn as much as I can about finances…saving….cuting costs.watching TDDUP..and one of the things I realized is “that if you don’t ask if it is negociable…you will never know” . No company that I have delt with has ever offered their best price right off the bat! ALso, I realized that I should control My money and put it where I want to….meaning..why pay a certain bundle price for my phone when I really do not need any of the services even if the sales consultant is very ENCOURAGING!! My money is mine…and I am learning that insurance companies, phone companies, banks etc…all want some and I figure if I am going to save money by switching to another cheaper one then…Oh WEll!! I have cut the emotional ties to those companies who often claim to save you money!!!! On other note about my money..is that I will admit that my weakness is clothing…I do not go crazy spending…but I do like to look good(while not spending a fortune)…is that so wrong…I identify that weakness as a need and a want….take care!!!
May 8th, 2008 at 1:24 pm
I hear you on the Walmart comment Annie. I literally have broken into a sweat pulling into the Walmart parking lot with my 8 year old in the van and finally had to tell her that I just couldn’t do it. We drove over to another store to buy running shoes that definitely cost me more, but the anxiety attack just wasn’t worth it.
That said, I have had to go there about 4 times this year because my children’s uncle keeps getting them Walmart gift cards for Christmas’ and birthdays…grrrr. I hate the set-up, having to walk behind the “browsers” who park their carts in the middle of every conceivable path I need to take to get the heck out of the store as quickly as possible, and THEN to have to line-up behind 20 people at what seems to be the slowest but least full line of 2 out of 20 cashes open??! That completely sends me over the edge, and my kids now know not to even ask me to take them there anymore. Grocery store line-ups, no problem, but in that disgusting, filthy, ugly Walmart, no thank you. I’ve told my husband he gets Walmart duty from now on! I understand the deals that people can find there, but the panic that sets in for me when it comes to only that chain is unreal…too bad…it’d be nice to save a few bucks when they have things I need on sale.
May 8th, 2008 at 3:49 pm
I sympathize Michelle, I really do. For the same reasons as you (minus the child aspect) I avoid it like the plague. I’ve done so well so far and the thought of actually giving them more of my money just utterly deflates me. But like I said - the options are limited. Whitehorse has 24,000 people, and the world’s largest (or 2nd largest) Can Tire, Wally-World, Stupid Store & Fields to choose from for “bargains”.
That’s it. Those are my choices. And where did I find the PERFECT table & chairs set? Nuts…
May 9th, 2008 at 4:43 pm
!!! I bought a bike today !!! :-O It’s going to be ready on Monday and I’m paying for it with my “freedom” savings (as well as paying for my tire change over today with my emergency fund…). It was reasonably priced and I figure I’ll save myself at least the cost of the bike in the first two months, if I don’t buy gas every two weeks - which could add up over the summer to $200 a month if it goes as high as it’s supposed to (and I have a tiny truck, so that’s a LOT of $$ in gas). Not to mention that I’ll feel way healthier and look pretty hot, too! Ha ha!
May 10th, 2008 at 12:26 pm
Annie: congrats on your cycling foray. Cycle safe (protective gear, following traffic rules, etc). The earth thanks you.
May 10th, 2008 at 12:56 pm
Thanks H! I plan to be very careful. The bike shop offers new buyers 20% off accoutrements for the first 20 days after purchase, and I’m too worried about getting hurt to NOT cycle as safely as I can. Most of my riding will be alongside a highway and I still can’t get over how laissez-faire so many of the cyclists are here: wrong way riding, no lights, no helmets, no care…As a driver, it really frightens me.
I’m picking up my bike today (it’s ready early!) along with a helmet, gloves, lock…
May 11th, 2008 at 3:29 pm
Way to go Annie! Every little bit counts in helping your pocket and the earth! Glad to hear you have all the protective gear - always, safety first. Have fun!