We've spent a great deal of time this month talking about gifts for friends and family members (and come on let's face it, ourselves). It's easy to buy, buy, buy and then look back on your purchases and regret a few things. Here are a few tips on ditching buyer's remorse and picking up the best gifts with the right motive so everyone wins.
Many of us are in a buying frenzy at this time of year and it's easy to get swept up in last minute sales and bargains that seem too good to be true. In addition, even though this extreme gift giving happens at the same time every year, many of us forget how to budget or examine our spending habits to get the biggest bang for our buck and be able to make the most of our time and money.
Our friends over at Lifehacker have outlined 11 ways to ditch buyers remorse and spend smart from the get go. They're great tips and apply to everything from small gifts for co-workers or larger purchases for your home such as sofas, appliances, or those implulse buys from Fab every few weeks. Here's a few of our favorites:
• Create a Spending Plan: Even if you say you'll set a dollar amount for each person on your list, truly weighing that against all your other purchases and bills is important.
• Know How to Re-Sell Your Stuff: So you bought a sofa and after a few months you're not super in love with it. Returning it is out of the question, but knowing how to sell it again and get your money back on it is worth your time to learn.
• Don't Buy from Places with Rotten Return Policies: This might seem obvious, and even if you only buy what you love, not being able to get your money back can be super frustrating. Especially when you still need a gift for someone and now you're dedicated to a single store, or possibly department within that store.
READ MORE: Buyer's Remorse is Inevitable: How To Make Purchases You Won't Regret from Lifehacker
Image: Flickr member Avenue G licensed for use by Creative Commons
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I have a 24 hour rule. I have to sleep on it. But there are exceptions. I bought two expensive chairs on Ebay at first sight. And I love them.
Do first husbands count?
I design before I buy, for instance I shopped around and knew I wanted a new sofa and chose two different ones that would work for me, then I just sat back and kept watching half a dozen sites until I found one of them at the right price ($3Kish down to $355, brand new). Same thing with wardrobe, I assemble outfits and ask what my wardrobe's missing before I go shopping, instead of being sucked into sales and buying 'bargains' I may never use. For gifts for others, I have signature gifts that I make regularly and tailor to an individual, otherwise I don't buy anything unless someone has a specific hobby/interest I can support.
@mjs7640: thanks for the laugh!
mjs7640, yes, absolutely, first husbands do count! Especially when considering the spending plan and return policy!
I have a personal test: Would I be interested in buying the item if it were full price (and I had the money)? If not, then I pass. If I loved it at full price, then maybe the bargain is real and useful. If I loved it at full price but thought it was too expensive, sometimes the bargain price is still not enough of a deal...