Placing price above quality

With the onset of the “Walmart shopping mentality”, I believe we have lost our sense of value. We are in the mindset of just getting a cheap price. All of us have to work within our budgets. But putting price above quality is like putting the importance of a book cover above the content of the book. Quality should always trump price. The idea is to get more bang for your buck by paying less for something that’s worth more. If you just are looking for something cheap that’s exactly what you will get…something that is cheap. Instead look a little deeper… look for content, quality of workmanship and design and most importantly… value. Otherwise you’ll end up replacing that cheap item again soon with another cheap item wasting both time and money.

Not Planning Ahead

Unexpected expenses are just that, unexpected.
But many expense we have fore knowledge of. We know when an oil change is coming up. We know when we are gonna need a new pair of shoes, new tires or new furniture. These items usually give us advanced notice to be replaced, repaired, or serviced. Waiting to the last minute will often cause you to overpay. You take your own choice away when you wait till the last minute. By buying ahead of need, you can save money because you have the choice to look around and wait for that special deal or sale. When you find the deal, pounce. If you wait you’ll probably pay too much.

Impulse Buying

Avoid impulse purchases.
Retailers want you to impulse buy. Buying what you don’t need is consumerism at its best and worse. It can cause unnecessary credit card debt as well as totally messing up your budget. Ask yourself when you find an item you think you can’t live without….
Is this an asset I will use?
Does it fill a need for an upcoming purchase?
Do you love the item?
Will purchasing this item put you further into debt or ruin your budget?

Asking these questions before you purchase will at least give you a clearer perspective on whether you should buy it or not. Another good trick is to only carry cash or checks with you into stores where you tend to buy things. At least you’ll be forced to pay with what you have.

Being Uninformed

Few things are worse than a stupid gullible consumer. Keeping up on pricing and products is paramount to knowing when you’ve gotten a fair shake. Take the time to find out where something is made and what components are used. Be familiar with brand names, what they offer as well as who and what the new designers and companies offer. Try to keep up with new technology. Not knowing what you’re looking at and what its market value is, is a great way to get taken, get snowed and pay too much.

Read the paper, especially the business section to see what companies are merging, who is in bankruptcy, what companies didn’t mean their sales goals. Knowing what’s going on in business will help give you a heads up for good sales, liquidations etc. Look at the ads and classified sections. Surf the internet. Learn as much as you can before you step into a store to buy. But when you do step into a retail store don’t be afraid to ask questions. Look at product you are not familiar with. But, keep in mind that retail stores are in business to make money, not give you a great deal.

Suzanne O'Connor