Mistakes to Avoid When Planning Big Purchases

There are instances in most of our lives where we will need or want to make an expensive purchase, from buying a new car to treating yourself to your dream holiday. However, whether an essential or a luxury, when planning to buy something big, there are several things you should consider.

Here are some tips to help you avoid post-purchasing regret and keep your finances in order.

Avoid Buying the First One

No matter what it is you are planning on buying, be it a TV or a camera, make sure you take your time. While you may be tempted just to invest in the first one you see, this could prove to be more expensive. As such, be savvy and shop around for the same or similar products. Other sites may offer the item cheaper which could save you money.

Avoid Fast Checkout

You have looked at other websites and found the cheapest deal, so now you want to complete checkout. However, before you do, consider searching for promotional codes. There are many websites offering discounts such as free delivery or savings on orders over a specified amount. For big purchases, lowering the price further could be a good use of your time. DontPayFull.com is a great place to start.

Avoid Buying Without Researching

Whether you are investing in a necessary item or have decided to treat yourself, to avoid disappointment further down the line, make sure you carry out your research. This could include reading reviews to find out what other customers thought of the product or searching for common faults and issues to make sure the item will fulfill the function as required.

Avoid Putting Your Faith in Reviews

As mentioned above, reviews are helpful and can be a good part of the research process. That being said, bear in mind that opinions can be subjective. For example, if there are many reviews for a tablet that say it broke quickly, it may be a good idea to choose another. But opinions about a destination or restaurant can come down to personal tastes and preferences.

Avoid Shopping on a Whim

Finally, while something might have caught your eye, unless you are feeling particularly flush, it may be worthwhile thinking it over before making a purchase. With the average British adult being in debt to a tune of £8,000, this is an important step because frivolous shopping could lead to problems with your finances.

So, before completing checkout, ask yourself the following questions: Do you really need it? Could you buy it later? And do you have the spare money?

Hopefully, these tips will help you when planning and making a big purchase.

Jeff Campbell

Jeff Campbell is a husband, father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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