Four things to consider when making that purchase.

It was 2012 and here in the DC metropolitan area we were all excited about RG3 aka Robert Griffin the Third. The new high draft pick of our local football team.

  • He was funny.
  • He inspired us.
  • The media told us he was an amazing athlete.

Our team traded away top talent to get him. He was so popular that he was even in a commercial with President Obama and candidate Mitt Romney in the 2012 election. He was on marketing fire so many went out and bought his. Yes myself included.

  • Jersey $100
  • Sneakers $100
  • Logo’d t-shirt $40
  • Inspirational Sox $15

We didn’t see him play one game yet. Oh Man! What were we thinking. It’s very possible you are like this also. Because it’s easy to get caught up in all the marketing. It’s hard for you to say no to the persistent salesperson. You then buy stuff you really don’t need.

The stuff just sits there and eventually it gets thrown out. Money handling takes discipline. If you budgeted yourself correctly and went out and spent money on wasteful things then you get a small pass. However, if you’re swiping that credit card on things that will sit in your closet. Then it’s time to rethink how you spend your money. Here are my 4 ways to stop wasting your money.

  1. Do your research first. Reading reviews can help sometimes. Looking at the story of RG3 the team could have asked themselves if a player with his skillset ever met with success.
  2. Don’t give in to the hype. If everyone is doing it. Then maybe you don’t need to do it.
  3. Don’t spend your money on things that are unproven. If the product has just come out it may have bugs. Wait for the second edition
  4. Need vs Wants. You’ll most probably use it if you have a use for it so that is a need.

Everyone has an RG3 in their life.You can see it in your closet whether it be clothes, purses, tech gadgets, boats or a timeshare. One way of not falling into the trap is asking yourself do I need this product or do I just want it? Then get it if you need it

 

Question: Do you ever look back on your purchase history and think to yourself what was I thinking? Please share

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