7 effective tips to avoid buyer’s remorse
Credit to Author: Ricky Publico| Date: Thu, 20 Feb 2020 16:58:55 +0000
Have you ever bought something in the past few months that you now regret? Have you ever bought something nice for yourself, only to get sick of it after a few weeks? Have you ever regretted spending a lot on an item you ended up not using that much? If you answered “yes” to any one of these questions, you’ve experienced a phenomenon called buyer’s remorse.
And it’s not like it’s a unique experience. All of us have had buyer’s remorse in the past with various levels of severity. Whether it’s a blouse you didn’t like or a vehicle you ended up not using, buyer’s remorse can often lead you to make more poorly judged purchases in the future. Don’t let buyer’s remorse get to you again. Here are some tips to avoid that.
Research, research, research
Whatever you’re planning to buy, always research all the best options and deals out there—especially if it’s a high-ticket purchase like appliances, smartphones or even a vehicle. This way, you’ll get a better idea on what you really want to buy before shelling out money for it. Impulse buying almost always leads to buyer’s remorse, so do some research first.
Don’t believe the hype
Jumping on the bandwagon is rarely a good idea, especially when it comes to consumer goods. You can see this every time a new smartphone comes out months after another smartphone came out promising “new and improved” features. You should learn by now to not instantly believe the hype and instead form an educated opinion about certain brands.
Consult your budget
Befoe the symptoms of buyer’s remorse persists, consult your budget. If your budget allows you to buy it, then that’s good. But if your budget’s a bit tight, ask yourself if the purchase is worth breaking your budget. Buyer’s remorse can get really intense when you realize you wasted money on a subpar purchase, and left a huge hole in your wallet in the process.
Take your time to purchase
Unless it’s an emergency, you should always take time when shopping. Want a new watch to replace your old one? No need to rush buying a new one, especially if the old one is working just fine. And once you enter a store, take time to compare prices and survey the product carefully. Smart shopping rarely has any time limit—other than store hours, of course.
Assess your reasons for purchase
Is there a deeper reason why you’re pining to buy something? Or did it look pretty on the ad and you just want to have it? You should have a completely valid reason to take out money from your wallet because otherwise, you’ll just end up experiencing more instances of buyer’s remorse. You will always cherish a meaningful purchase, even if newer stuff comes out.
Always consider the long haul
Buyer’s remorse usually stems from the realization that the purchase won’t be useful in the long haul. Ever bought something because it was cheap but it ended up breaking after a few weeks? That’s because you’re satisfying an instant urge. Always choose to buy durable and long-lasting items that will last you a long time. Never waste your money on instant gratification.
Learn the art of waiting
Sometimes, we buy things as alternatives to the things we really want. That’s where the dissatisfaction comes from. Ultimately, you just have to learn how to wait. Bury this in your brain: nothing in this world that’s worth having comes easy. Work hard enough and earn enough money to afford the things you want without wasting money on alternatives and imitations.
It’s okay if you’re currently experiencing buyer’s remorse. The important thing is that you’re willing to learn from your mistake to avoid ever going through it again. Start making better financial decisions with these tips and start loving all the things you own. As for the items you regret purchasing, consider selling them online or donating them to those in need.
Ricky Publico is a senior content writer at Moneymax. Compare and save money on car insurance, credit cards, loans and gadget protect plans at www.moneymax.ph. Visit its website to know more.