How to make good purchase decisions
And not feel any guilt after shopping
Do you often feel guilty after buying new clothes? Or realize you bought something you never used? You are not the only one! A research conducted on behalf of SlickDeals shows that over 50 percent of Americans feel guilty after spending money.
Sometimes, that blouse that seemed amazing at the store never leaves your closet - and it just makes you feel bad. I’ve had this feeling many times and just couldn’t believe I wasn’t able to understand that it was not a good purchase at the time.
After a few years of financially educating myself, I have come across some tools that helped me make better decisions. Of course, they also made me feel happier about the things that I buy.
If you often feel empty after binge shopping you may wonder: how is it possible to control your urges to use your credit card?
Give yourself some time to think
When I was younger and used to go shopping with my mom, it often happened that we would see something interesting, but that she was not quite sure of. It could be that she wanted to further research prices, or see if we could find something else. In those situations, she would tell the clerk we would think and come back later.
In this scenario, it was very common for us to hear a response such as “This is the last one, I can’t assure you I’ll still have it” or “It is on sale, if you don’t buy it now it will be more expensive”. Those are really appellative arguments that might make most of us cave to the sense of scarcity and open our wallets. But the answer I would hear from my mom time after time was “It will still be here if it is really supposed to be mine”. And she would tell me the same thing when I wanted to buy something. She’d say we should trust the Universe and, if we could not buy that later, it was better this way.
This way of thinking reduces the power that the urgency and scarcity mental triggers have on us, making it easier to step back and analyze what we really want. By getting away and giving it a little more thought, things get more clear and you are more likely to make a better call.
You might decide to buy it anyway — and that is awesome! Because you’ll probably actually be happy with what you just bought.
Ask yourself this:
Many financial coaches suggest different set of questions that we should ask ourselves before buying something, but the one that has helped me the most was organized by Nathalia Arcuri, who runs Brazil’s biggest online financial education platform:
Do I want this?
Take just 5 seconds to reflect on whether you actually want it and you might find out that you are actually just going with the flow. Or, you may realize that you really want to have it.
Do I deserve this?
This question can easily be misinterpreted. When asking yourself if you deserve it, it is not a matter of whether you have worked hard enough to be entitled to a treat. It is actually the opposite — you should take this question as if you were talking about a partner. Do I deserve this or do I deserve better?
Do I deserve to spend the money I’ve been saving for my vacations on these amazing scented candles or do I deserve to have the pleasure to go on my dream vacation on the date I have planned to?
Do I need this?
Many of us have already bought things just for the thrill or satisfaction of it. But overconsumption is a problem in many dimensions. It is a problem for the environment, for your pocket and, sometimes, for your mental health.
Therefore, it can be nice to sometimes reflect before getting to the cashier: do I really need this?
Can I buy this?
Rebecca Bloom had a big problem with her credit cards and we all know she is not the only one. Much of the guilt associated with a purchase is actually because of the financial consequences of it. In order not to go beyond your budget, it is important to take a look at your finances — bank account, current expenses, credit, investments and goals- before making a purchase decision.
Should I buy this?
If you have answered yes to all previous questions it probably seems obvious that you are going to buy it, but first ask yourself if you should. Sometimes even if you have the money, need and want that article, there is still a chance you should not buy it. Maybe you can think of something better to spend that money with. If that is the case, the answer is no, you should not buy it.
Another important thing to add about those questions is that, in the case that you answered “yes” to all and bought what you wanted, you can feel light enough to enjoy your purchase. Your decision was well-thought and legit, thus there is nothing for you to feel ashamed or guilty of.
Keep in mind that there is no right or wrong way to answer them. Your “yes” could be someone else’s “no” and that is fine. It is essential that you align your answers to your goals and values. Only if you answer them truly and without judgments will you be able to feel good about your decision — no matter if it was to buy it or not.
What matters the most is that you put some thought in it and do what makes more sense to your life and your goals.
Do you have other tools that have helped you avoid post-shopping guilt? Share it in the comments.
