MARY LOUISE KELLY, HOST:
Sometimes we buy things we later regret spending money on - that new sweater that falls apart after one wear or maybe that fabulous-looking vase that turns out to be a mass-produced dupe. In the moment, it can be really hard to resist the temptation of making a purchase. So we're going to explore how to avoid buyer's remorse. This is part of our ongoing series, The Cost of Living: The Price We Pay. Marielle Segarra is host of NPR's Life Kit, and she is here to walk us through what we should do, what we should think about before we buy. Hey, Marielle.
MARIELLE SEGARRA, BYLINE: Hey, Mary Louise.
KELLY: OK. So I'm at the store or I'm online, and I'm browsing, and I'm just about to click and put something in my cart. First thing, what should I stop and do?
SEGARRA: Pause. Just take a beat, check in with yourself. Sometimes we shop when we want to feel something. You know, we want to feel creatively inspired. We're just bored. We want to be stimulated. Or you might also shop when you're feeling too much. You're sad. You're hungry, angry, lonely, tired. There's actually an acronym to help you remember that. It's called HALT. People might know it from Alcoholics Anonymous, but it applies here too. Basically, you just want to check in and say, what am I feeling in my body right now? And is shopping the best way to meet that need or desire?
KELLY: And then what next?
SEGARRA: Yeah. Then you can ask yourself, do I need this thing or do I just want it? And there is nothing wrong with wanting something, but when you separate out your needs from your wants, and you're really honest about that, that can help you prioritize spending when you do have limited funds. And, you know, most of us do.
KELLY: Unfortunately, alas, 'tis true. OK. So say I've done everything you recommend. I've done the whole emotional check-in. Are there other just practical questions to stop and ask myself?
SEGARRA: For sure. Yeah. You want to ask, does this item fit with my lifestyle? Do I have anywhere to put it? If it's an appliance, like a dishwasher, what is the installation going to cost? Also, am I willing to do what it takes to own this thing? Can I maintain it? Can I keep up with repairs? What would repairs even entail?
And then, of course, you want to shop around, you want to do your research, look at product reviews. Also, make sure you're considering a mix of opinions and using resources you trust and places you know how they come up with their ratings. And then when you think about price, just remember that more expensive doesn't necessarily mean better. I talked to Brian Vines from Consumer Reports, and they have dozens of laboratories where they test out products.
BRIAN VINES: The price does not guarantee performance. We've seen that over and over again, and we test for reliability. And sometimes the repair costs on these high-end brands outpace replacement costs on midrange brands.
SEGARRA: I mean, and then also, you just want to remember, sometimes the best purchasing choice you can make is walking away. Vines put it this way.
VINES: If it's not what you want and what is going to fit into your life, walk away because they're still making stuff 24 hours a day, and someone is going to make the thing that you want the way you want it at a price that you're willing to pay.
SEGARRA: Yeah. And this is something I do when I'm buying clothing and shoes, right? If it's at all uncomfortable, if it's pinching me even a little bit, it is going back on the rack.
KELLY: That is wisdom and great advice there from Marielle Segarra, our Life Kit host. Marielle, I'm prepared to listen to you on everything but shoes. Can shoes be exempt from this (laughter)?
SEGARRA: You like uncomfortable shoes?
KELLY: I like all shoes. I'll just take them.
SEGARRA: That's a vibe.
KELLY: (Laughter).
SEGARRA: That's a vibe (laughter).
KELLY: Thanks so much. Great to talk to you.
SEGARRA: You too.
KELLY: And as our series on the cost of living continues, we explore the forces behind the rising price of furniture. You can hear that on ALL THINGS CONSIDERED Saturday.
(SOUNDBITE OF CLIPSE, ET AL. SONG, "ALL THINGS CONSIDERED") Transcript provided by NPR, Copyright NPR.
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