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Buyer's
Remorse
That sinking feeling in the pit of your stomach as
the thrill of the purchase begins to wear off is
buyer's remorse. Frequently felt after major
purchases like a new house, car or boat, buyer's
remorse may also appear once holiday and birthday
celebrations wind down and the realization that you
have overspent your budget begins to choke you.
Even worse, sometimes you do not have the funds to
pay for what you have just purchased.
Often in anticipation of a
windfall like a money gift, loan or refinance, the
more impulsive people may see the future finances
as a sure thing and be devastated when the funds
fall through. Creditors are vicious in their
voracity to obtain funds even if paying them means
literally to deny food from your children. Here are
three important rules to help keep your finances in
order.
1. Set up automatic
payments for your monthly bills, but be sure to
check your "payment due" amount frequently.
Interest rates vary and you may end up a dollar
short one month. Your creditor can then increase
your interest rate to 30% and charge a late fee.
Read the fine print of any credit card or loan
carefully.
2. Take a second job if
necessary to pay off creditors and tear up all
credit cards except for one emergency card. Put
your emergency card in a safe place and use it only
for a true emergency.
3. Hesitate, hesitate,
hesitate before all purchases. We do not need 99%
of what we desire. If you do purchase, leave the
tags on and wait a few days until the rush of
acquisition wears off. If you can live without it,
return it.
The idea is to save money,
not to squander it. Every dollar represents the
time of your life that you gave to earn it. Value
your life highly and get off that treadmill of
work-spend-work and introduce yourself to
work-save-play.
©2009, Molly
Barrow
* * *
Dr. Molly
Barrow holds a Ph.D. in clinical psychology and is
the author of the new book, Matchlines:
A revolutionary New Way of looking at relationships
and making the right choices in
love. She is an
authority on relationship and psychological topics,
a member of the American Psychological Association
and a licensed mental health counselor. Dr. Molly
has appeared as an expert on NBC, PBS, KTLA, and in
O Magazine, Psychology Today, Newsday, MSN.com,
Match.com, Women's Health and Women's World. Please
visit: www.askdrmolly.com
or Take the new relationship compatibility test,
Match Lines Systems for Successful Relationships
for Singles, Couples and Business at
www.DrMollyBarrow.com.
Molly has a radio program, Your Relationship
Answers at www.blogtalkradio.com/drmollybarrow
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