SALT LAKE CITY — The Christmas shopping season brings countless doorbuster sales, "lowest prices of the year" claims and tempting clearance deals. But financial experts warn that buying something just because the retail price is marked down isn't always wise.
Dave Nellis with America First Credit Union said shoppers should resist getting sucked into sales and overbuying. "A good deal for you may not be a good deal for me, and so you have to analyze your budget, your needs, your wants, and say is this really a good deal for me at this time? And if it's not, well, then come back later and maybe you'll find another good deal later on when it fits your budget," Nellis said.
"We get ourselves into trouble because we collect good deals and now we have 5 or 6 of those good deals and I don't know what to do with them, but I have them."
One way to avoid impulse purchases is practicing the wait rule. Before making a purchase, walk around the store or leave altogether. This gives you time to really think about the purchase and reflect on your overall financial picture before spending money.
One of the most important things you can do is save your receipts. That way you can return an item if buyer's remorse sets in. However, be certain the item is returnable and make sure you do so within the return window timeframe.
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