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Spending money every now and again can be a very fun and exciting way to treat yourself, have new experiences, and find great new things. Whether you are buying necessities like shelter, clothing or food, transportation, travel, or just some gizmo’s, there is always the potential, however, for buyer’s remorse. We have all bought something and then instantly regretted it. The key is finding the ways to avoid this buyer’s remorse, so that all of our purchase is worthwhile. Here are three ways that you can avoid buyer’s remorse regardless of what you are buying.

Give it Some Time

The first step to avoiding buyer’s remorse with any purchase you make is to give it some time before making a decision. We are far more likely to make a buying decision that we regret down the line when we make a rushed or in the moment decision to buy. Rather than doing this, give yourself a few hours or days to see if you really want what you are buying. Usually, you will find that after a week, the desire to own something goes away, meaning it was not going to be a worthwhile purchase.

Think Hard About Big Purchases

Another step to avoiding buyers’ remorse is to think very hard about big purchases. Waiting a week to decide can work for smaller purchases, like a new piece of clothing, but for large purchases this approach may not be enough. Purchases that will tie up your assets and cash for a long time should be made with a lot of research and thought. Real estate is a big investment that you should think carefully about. You should make sure to do the math and make sure that any large purchase you make is a sound financial decision for you.

Be Wary of Using Credit

The final thing that you should do to avoid buyer’s remorse with any purchase you make is to be wary of using credit. For a large purchase you will likely need to take out a long-term loan, but for a smaller purchase, you should always pay for them in full rather than keeping a balance on credit for them. When you pay with a credit card and let the balance accrue interest, you are effectively increasing the price of whatever you bought, which can lead to regret.

Purchases are necessary, but if you find yourself regretting many purchases, you should take a look at your spending habits. Buyer’s remorse is completely avoidable with the right approach to spending money. If you take time making purchasing decisions, carefully consider your big purchases, and are wary of using credit unnecessarily, then you are ready to avoid buyer’s remorse forever.

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