There’s a big difference between being cheap and being a savvy shopper. You can buy quality without busting the bank and shopping can be a lot of fun. No matter what you are shopping for, we all are influenced by our past experience, marketing, and legacy advertising. What is legacy advertising? Think of a brand name that you have heard of or seen from your earliest childhood memories. For many of us it could be big soda companies, car producers, shoes, and maybe a couple of blue jean manufacturers. You already know their names and iconic brand logos without me telling you. You can still rattle off classic marketing slogans. But there’s more to being a savvy shopper than just recalling a brand name and its slogan.
When it comes to the big purchases, like cars, appliances, and even travel, we are influenced whether we admit it or not. But there are a few things you can do when you need to make a big purchase. Whether as big as buying a car, or any other big-ticket item.
First of all, slow down… take some time to really think about whether you truly need the item. If the answer turns out to be yes, start your research. Jump online, read reviews, talk to friends and family who have purchased the same item. Share with others what you are thinking of buying and elicit their feedback. Be open to hearing divergent opinions and experiences. You can usually tell if the comments are just grumbling or if a true complaint pattern about the item starts to develop from person to person. Sometimes, a negative comment turns out to be more of a personal disgruntlement than an actual fault of the product. But if you keep hearing it broke on the fifth use it’s not disgruntlement.
Consider not buying brand new. Great bargains can be had on high-end items if you know the item, it’s history, and its value in the resale market. Cars, jewelry, boats, RVs, and athletic equipment come to mind. Sometimes people buy too early or change their mind about wanting the item and they put it up for sale.
When I moved to Oakland, I realized I had a desire for a car. I was also influenced by marketing from Volvo. I started narrowing the choices of models down and reading what I could. I also asked people who owned those cars if they were happy with their car. Surprise! Most people are still happy and Volvo owners tend to be brand loyal. However, there was the occasional complaint and I made a mental list of these complaints. I also test drove a few of the options to see if I liked them. I have always had a fondness for Volvo and in the end, I bought a slightly used, two-year-old Volvo that a woman was selling due to a divorce. That was in 2006 and I and I had it until I was in a multi-car collision in November 2019 and someone drove in to me! What did I replace it with? A newer model of the same type.
Go to trade shows before making a big purchase. See what all is really available in the category. Spa, RV, auto, and boat shows almost always have new and slightly used models. Talking with dealer reps may at times garner you a personal discount you can use after the show. Look at the calendar. Watch for model cutoff dates such as current models being discounted at year-end to make room for new models. Consider shopping in late December or early January when stores are desperate to clear merchandise and old models. Travel during the off season for deals on hotel and airfare. You might score a deal on a cruise in the shoulder season to a wonderful destination.
Slow down, do your research, share what you want with others, and keep an eye on the annual flow of merchandise and you can acquire quality items at a good price. As an independent CERTIFIED FINANCIAL PLANNER™, I can help you. Contact me and let’s get started. #talktometuesday #getstarted #HowIcanHelpYou #GetHelp #Hireaplanner #CFPPro #savemoney #buy #shop #quality