Purchase in haste? No way

I have a slight obsession with money. I’m also very nosey. So when Well-Heeled brought CNN’s Super Savers series to my attention, I immediately clicked over. Seeing how others spend (or don’t spend) their dosh? Paradise.

Some of those featured managed to sock away some serious dough, whether it was 35 per cent or a whopping 60 per cent. But Nicole’s story was the one which really resonated with me.

Nicole is a master of the long wait. She regularly holds off for three to six months before buying anything that costs more than $100, and she never spends more than $30 without first checking with Mitch (he does the same). She once put off buying a $3.99 ringtone for her cell phone for weeks to see if she really wanted it. And when she saw a $195 pair of earrings she liked, she trimmed the grocery budget for five months to find the cash. “I usually mentally buy something before I actually do it.”

That one sentence pretty much sums up my entire money philosophy. Aside from, obviously, rent, bills and food, I don’t spend on very much else. (In my humble opinion. Yours may differ. I don’t usually go out to bars, movies or on shopping sprees. I have spent a ludicrous amount on concert tickets in the last three months, but a) I’ve never been to one before; b) I’m selling two of them, since I managed to snag better passes; and c) another two were purchased as birthday gifts for friends.

It’s very rare that I ever buy something I see in the stores the first time I see it. I browse other shops and check all my options, and think about whether I can picture the item fitting into my wardrobe/lifestyle. I think it all comes down to two things: I’m a planner, and a control freak. And to me, there’s not a lot that’s worse than buyer’s regret.

Thanks to Beating Broke for including me in the latest Carnival of Personal Finance! Check out Carnival #267 at Beating Broke.

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7 thoughts on “Purchase in haste? No way

  • Reply Laura July 28, 2010 at 05:11

    This is something I do now, previously I didn’t, which equalled credit card bills! 🙁

  • Reply The Non-Student July 28, 2010 at 10:34

    I am not quite as stringent (for instance, I saw today that there were half-off tickets to a show I’d been dying to see, so I just bought one!), but that’s because I am making more money than I did two years ago. But, I have made a conscious effort NOT to buy any more clothes (I have enough) and other things I don’t need. It’s all about prioritizing for me. I find that like dieting, if I restrict myself too much, I end up binging. So, I try to treat myself while staying in budget. I’ve managed to do it without any CC debt!

  • Reply Stephany July 28, 2010 at 12:03

    For me, it’s all those little expenses that add up. I don’t go on too many shopping sprees or out to dinner, but it’s that $10 at the drug store and then $15 for fast food one day and then $20 on “things I need” at Target that makes everything add up.

  • Reply Little House July 30, 2010 at 04:57

    I need to hunt down that series. I love watching how others spend or save their money. I’m not much of a shopper, so I’m rarely put in a position to make hasty decisions. However, my husband is always in “need” of something. He’s gotten better with waiting, 1. to make sure he really wants or needs it, and 2. to save the money so it’s not a stressful event. Thanks for sharing!

    • Reply eemusings July 30, 2010 at 11:05

      bf is the exact same! He’s learning to slow down, though.

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