Our Archive of Articles About Financial Literacy and Other Topics
20 Guidelines to Govern Your Buying Habits
October 1, 2007, 1:28 pm
Money Management article with quick tips for smart shopping.
1. Avoid impulse buying. Your budget should guide you in the types and amounts of your purchases. Buy with purpose, not impulse.
2. Never use credit cards for impulse purchases. Cash only. Doing so leads to
credit card debt.
3. Comparison shop for items, balancing quality with lower prices.
4. Keep a running list of items you need and watch for these items on sale. Unless there is an immediate need, your patience will pay dividends.
5. Shop quickly, using a list. Every extra minute in the store costs you money.
6. A lot of thought and study has gone into the arranging and displaying of items to encourage you to buy items you don’t need or really want.
7. Plan your clothing needs carefully. Buy only items you need.
8. Buy quality rather than quantity.
9. Select fabrics that can be cleaned at home.
10. Check the construction, matching plaids, etc.
11. Read the labels and know what they mean.
12. Watch for seasonal sales on clothes, furniture, appliances, etc.
13. Don’t let others influence your choice of quality, style or size of any product. Buy what you need, not what will impress.
14. Shop around. Never buy any major item without comparing price, quality, size, features, attachments, warranties, etc.
15. Read the directions and warranties so you will know proper care. If warranty is still in effect, do not try to repair an item yourself.
16. Keep all sales slips, warranties until you are sure the item is what you want and need.
17. Avoid credit purchases. If you must use credit, be careful.
18. Buy your Christmas gifts early, often you can find real bargains.
19. Learn to make simple repairs on furniture and appliances, and simple alterations on clothing.
20. Be very cautious of door-to-door sales people, and of prizes you may have won. Be careful of buying by telephone, especially in response to phone calls.
About Springboard Nonprofit Consumer Credit Management
Springboard is a nonprofit credit education and financial counseling organization founded in 1974. The agency offers personal financial education and assistance with money, credit and debt management through confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. Springboard is a HUD approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency has several locations in California and offers face-to-face and nationwide phone counseling services. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at www.credit.org.
