Wise Purchasing Decision

Albert W.Kayper-Mensah once said, “A crown is a hat, but you don’t buy that, when you need a hat.” Making wise purchasing decisions can be difficult because there are so many different products on the market today. A wise purchasing decision is not the kind of purchase that is made based off of emotions or impulse; a wise purchasing decision requires you think before the purchase is made, during the purchase process, and after the purchase.

Before you are ready to make a purchase you must know your needs. Make a list of features that you want the product to have. What things would be nice to have, but are not really necessary? You don’t want to purchase a product that does not have all the features you want nor has more features than you need. Find out if the product has to be serviced or if repairs need to be made, how expensive those repairs could be. Check to see if there is any hidden cost. Hidden costs are accessories or services that will cost you more once you own the product. These things need to be taken into consideration whether you are buying the product for yourself or for someone else. Since there are different brands of the same product, you need to research different makes and models. For example, you want to purchase a computer. You found a desktop computer. In addition to the desktop computer, you also found a laptop. The laptop is portable, uses less power, and makes less noise. However, laptops are often slower, have less graphics, and less sound processing center. The example shows you the reason why it is important to know exactly what you need.

Another step to think about before making a wise purchase decision is made is to think about where, when, and how to buy the product. You will need to decide if the product will be brought from the internet, department store, specialty store, mail order, or from a trusted reseller. As you can see, there are many different places to purchase products. Always consider the sellers reputation, a good reputation is very valuable. It is best to deal only with sellers and/or companies who stand behind the product that they are selling, especially if you are purchasing a big ticket item. Unless you need the product right away, try to buy the product in its off season, during clearance sales, and during sales promotions. Store advertisements and newspapers are helpful because they let you know about sales. You will have to decide how you are going to pay for the product. Today there are lots of options; you can choose to pay by cash, credit, check, lay-way, and loans. Strongly consider paying with a credit card, that way if there is a dispute with the seller, you may not have to pay the charges on your credit card. Buying your product from the right place, at the right time, and using the correct form of payment could be the difference between saving one dollar and one hundred dollars.

Now you are ready to purchase your product since you know your needs, researched products, and decided where to purchase your product from. When you are ready to purchase the product make sure you thoroughly look over the product. You want to make sure that it is in the expected condition. Check to make sure you have all your accessories, if they are included in the purchase. Make sure you have read the warranty, understood what you have read, and have a copy of the warranty, if applicable. The warranty information should be clear and specified. Get a copy of the seller’s refund and return policy, or make sure it is on the back of the receipt. Most importantly make sure that you get a receipt. The receipt will provide you with the date of purchase, what was purchased, and how it was paid for.

After you have purchased the product there are several things you want to do. Keep all the documents such as the receipts, warranty, and the manual. Before you use your product, make sure that you have read the manual. This will ensure that you know how to handle the product, take care of the product properly, and know how to use the product. These things need to be done in case something goes wrong with the product, like a defect or some type of malfunction.

So next time you are thinking about buying a product, remember a wise purchasing decision wisely requires effort, energy, and intelligence. Deciding what you need in advance helps you keep your focus. Making wise purchasing decision will keep more money in your pockets and you will also find a product that matches your needs and wants. Remain committed to your research to avoid making an impulse decision. Making a wise purchasing decision can be time consuming, but the rewards are worth it!

References

Kayper-Mensah, Albert W. (1970). The dark wanderer. Tubingen, Germany: Horst Erdmann Verlag