How to Become a Smart Consumer
America is often referred to as a consumer culture. Whether you view yourself as a spender or saver, everyone needs to purchase items sometimes, from cars to insurance to groceries to clothing and more. Before you buy, make sure you take the right steps to become a smart consumer so you can get the most for your money.
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Instructions
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Create a budget and plan before you buy. Buying on credit, unless you are going to pay it off in full, adds to the cost of your purchases since you'll pay interest. Knowing what you want, and making a plan for exactly what you are going to buy before you do, helps you avoid impulse purchases. It also keep you from buying something just because a salesperson pressures you to do so.
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Research a product using a buying guide. Numerous guides are available for all different types of products. "Consumer Reports" provides reviews and ratings on a wide selection of items, including electronics, baby items, home and garden products, and even financial products. CNET offers reviews on electronics. "Better Homes and Gardens" gives a seal of approval to products it rates highly. Before you buy anything, use these reputable consumer-ratings sources to determine how to get the most bang for your buck, and which features to look for and avoid in a product.
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Research businesses using the Better Business Bureau or your local or state department of consumer affairs. This is especially important if you are buying an expensive item. You want be sure the company you deal with, or the store you buy from, offers you a high-quality product. Furthermore, make sure the store you buy the product from is a certified retailer (this is common in the computer and electronics industries) so the manufacturer's warranty will be in full effect.
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Seek out coupons. This is especially important if you're shopping online. Sites such a RetailMeNot can help you find a coupon code or a printable coupon for almost any item you want to buy. The Sunday paper has a wealth of coupons that can save you money on groceries, retail purchases and other items. There's no sense paying retail. (Of course, you shouldn't buy an item just because there is a coupon.) Also, ask stores if they have a price-matching policy. Many do.
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Know the gimmicks. Extended warranties on furniture and electronics are often not worthwhile and pay a high commission to salespeople. Car dealerships make a lot of money on financing, so be aware of that before you get a loan. Grocery stores list loss leaders to get you into the store so you'll buy more expensive items. They'll list an item as "five for $10" so you will buy five when you could still get the sale price if you buy one. Every industry has a gimmick designed to get you to spend more.
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