According to this article, we have at least some regrets about 80 percent of the stuff we buy within the first year of buying it. Think of all the money you could save if you could recognize your poor spending choices in advance and simply avoid those. One way to do that is follow this author’s advice and make a “What the Heck was I Thinking List.”
Once a year, pull together your sales receipts, charge-card statements, cancelled checks, and other proofs of purchase, and look at the discretionary items you bought during the year. Tally up the total, and ask yourself one simple question: “If I had it to do over again, would I still buy that?” You might surprise yourself how much money went into items that we shelved or given away.
Read the full article at: http://www.aarp.org/money/budgeting-saving/info-12-2009/buyers_remorse.1.html
If you’re like most people, you’ll probably notice some trends. In my case, I had a tendency to buy the latest technology devices when they first came out instead of waiting for prices to come down. Now I place the item in my amazon ‘wish list’ and wait, sometimes for months. As an example, I put the latest Denon A/V receiver ($899) on my wish list back in the summer when it first came out. Today it’s going for $629, just a few months later.
