Nov 14, 2014

Wanted: A healthy relationship with Money in 2015

I can't help but feeling "damn that's me!" when reading Pru's post here

I was searching for something else on Google yesterday and then I stumbled upon a good discount (20% off) and I made an order for something which is clearly a "want" instead of "need. Then, 3 minutes later, I discovered that I could have made a slightly different order which will come with a gift with purchase! I cancelled the order (awaiting confirmation whether it is successful or not), and made 2 different orders, one with the gift) and another without. They are technically the same stuff but I ordered it differently to get the gift. So, I placed 3 orders, cancelled 2, but the cancellations weren't successful! Which means that when they come, I'll have to pay for shipping to return it, and some of the stuff is heavy as well, I might end up paying half of the amount just to have the full refund, roarrrrrrrr.

All this has taught me a great lesson: Never buy out of impulse, especially if it's a time-limited discount (1% less discount count by each hour, starting with 20%), I might as well skip it because the (perceived) lack of time = lack of sufficient information for judgment = more prone to mistakes = regrets to come.

I've decided that in 2015, I want to establish a healthy relationship with money. No more love/hate relationship, I don't want any love/hate relationship with money, nor any purchase mistakes like the above. Every purchase I make must be well-thought of (need vs. want) and thoroughly considered (how often will I use it, purpose), researched (specifications), assessed (features, functions), evaluated (best deal out there or not). I would avoid buying anything full price, period. 

The 2015 budget definitely needs to be drawn out, followed by some tweaking. I'll be ticking away expenses for weekend getaway with friends...or slightly reduce it to 1 trip instead of 2, we'll see. 

4 comments:

  1. This what I do. I mostly shop on the high street but I occasionally do it online, with Amazon for instance. So, I see an item I want and ask myself: Do I really want it? Do I need it? Will I use it? Can I afford it? (I borrowed this from Martin Lewis at the MSE website). Then, I walk away (or leave the page even if I've put it in my basket) and I either forget it - so I didn't really want it - or I remember it and so I buy it :-)
    I do try and buying the sales or when offers are on but I don't like to be pressured, to be in crowds and, although I've always wonderedif that was costing me money I'm now thinking perhaps its saved me some?

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    1. Thanks for sharing, January!

      Over the past year or two, I grew to avoid crazy mass sales like the plague, i.e. the one going on with a certain department store out there (the stores don't do online purchase) because 1) being in crowds make me feel suffocated; 2) there's this "others are buying so i'm buying" atmosphere and it can be really dangerous; 3) i like shopping comfortably instead of queuing for hours just to get something I want, and it might be sold out by then! I'm a much happier shopper when doing it online with deals and offers. For moi, I'm trying to sleep on a purchase, but the problem was that *on most days* i will end up remembering / can't forgetting the item so I buy it! This needs further work, haha!

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  2. Oh I feel for you PJ! The item I bought was special equipment type of item (and expensive) so I'm not surprised I lost money on it. It just ended up being a timing issue and I didn't know that when I bought the item :-(
    ~ Pru

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    1. Another *slap palm to forehead* moment uh huh :( i've had more and more of these lately so am thinking i need an all-out stop from online browsing.

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