How to Be a Savvy Consumer

Опубликовал Admin
8-05-2021, 12:30
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A savvy consumer knows exactly what they are buying and who they are buying from. You should always think before you buy and only make a purchase once you are satisfied you are getting an item or service for the best price and at the highest quality available. You should try to always spend your money wisely and buy from trustworthy vendors so you ensure you are using your buying power effectively. You can also be a savvy consumer by finding the best deals and sales in store and online.

Spending Your Money Wisely

  1. Decide if you actually need the item. As a consumer, you may be tempted to buy an item impulsively, especially if it seems like a good deal. But you should try to be savvy about how you spend your money and avoid buying something just because it is on sale. Instead, make sure the item fits your budget and will not compromise your finances. Only then should you consider purchasing it.
    • Keep in mind salespeople may pressure you into a purchase by using “a good sale” as an incentive to buy. You should always pause and consider if you really can afford the item before you take out your credit card. You should also think about whether or not you need the item as you do not want to simply buy an item for the sake of spending money.
  2. Determine your budget before you go shopping. You should also set limits on how much you are willing to spend as a consumer before you go shopping. Setting a budget will ensure you do not overspend and that you get the best price for the item or service you are looking for.
    • For example, you may set a limit of $1,000 for your new television, where you cannot spend more than this amount. You may then do research to determine which television models are within your price range and which models have functions and add-ons that you can afford.
    • You can also discuss your budget with a salesperson if you decide to buy the television in the store. Giving the salesperson a clear budget will allow them to show you the best products for your price range and meet your expectations as a consumer.
  3. Research the item or service on your own. You should educate yourself before you go out and talk to vendors. Research your potential purchase online and gather information about the item or service you are looking for. Look up other details besides the price, such as the possible functions, materials and add-ons of the item. Get a good idea of the best possible item or service available and then compare prices to determine what you can afford.
    • You should also look at consumer reports on the items or service as well as any test results done by independent testers. These reports can help you compare different vendors and determine what your expectations should be as a consumer.
    • For example, you may be looking for a new television. You should decide how large you want your new television to be as well as what you want the television to do for you. You may research the available televisions on the market and determine which television models are appealing to you.
  4. Check the state of an item before you buy it. You should also spend your money smartly by knowing exactly what you are getting when you purchase something. It should be stated online or in person if an item is new, used, or refurbished. You should be well aware of the state of the item before you purchase it.
    • You should be especially wary of this when you purchase used or refurbished items. Make sure you are clear about what you are buying, especially if there is a “Buyer Beware” note on the item. Once you buy an item, you may not be able to return it or exchange it based on the terms of the transaction.
  5. Make sure the sale is a good deal. Before you buy an item, you should confirm the sale is a good deal. You can do this by comparing the price of the item at several different retailers online or in store. Look for the lowest price for the item, as some retailers may have better sales than others.
    • You should also make sure the item is good quality for the price. This means determining what the item is made of, or the materials in the item. You should confirm that the item is well made and worth the price tag before you buy it.

Buying From Trustworthy Vendors

  1. Read reviews of the vendor online. You should always do research on vendors before you buy from them. This means reading reviews of specific products online as well as reviews of the vendor or seller. You should make sure the vendor has a high rating online and mostly positive reviews from buyers.
    • You can also read the company's report with the Better Business Bureau and Consumer Reports. If the company requires licensing to operate, you should contact the licensing authority to confirm the company is properly licensed and has no record of disciplinary action.
    • You should also make sure there is legitimate contact information for the vendor available online and in person. The vendor or seller should have an address and a phone number that you can verify is real and legitimate.
  2. Ask the vendor for referrals from other customers. You should also confirm the vendor is trustworthy by asking them for referrals from other customers. There may be referrals available on the vendor's website and in their promotional material.
    • Check to see if the referrals appear to be written by third party individuals, such as customers who have a history of using the vendor in the past. You should also check that the referrals are written by customers who have written many referrals for other businesses and services. Often, customers with many referrals for a variety of businesses will be discerning, savvy consumers.
  3. Check social media. You can also get an idea of the business's customer experience by checking their social media accounts. In particular, Facebook allows for customer complaints or praise to be displayed prominently and gives the business a chance to respond. Look out unanswered complaints or a lack of positive comments when reading through the page. Businesses are aware that most customers check their Facebook before making a purchase, so reputable ones will strive to maintain a professional presence there.

Closing the Deal

  1. Never give out personal banking information to unknown parties. Do not provide any personal banking information, such as your banking institution and account number or credit card number to vendors you do not know or recognize. Do not open emails or site offers that require you to provide personal banking information for access, as these are likely scams.
    • Trustworthy vendors will only ask you for your personal banking information once you have agreed to purchase an item or service online. Many vendors will use certified processing tools or sites to complete your purchase online. Legitimate vendors will have safeguards in place to protect your personal banking information from theft.
  2. Read and understand all contracts before you sign. You should make sure you understand exactly what you are signing by reading all contracts thoroughly, including the fine print. A trustworthy vendor will be transparent and willing to explain any details of the contract that confuse you or are unclear to you.
    • You should check that the contract protects you as a consumer and does not limit or restrict you from returning or exchanging an item. If there is print that restricts you from doing this, you should be aware of it and willing to agree to it.
    • If the sales pitch by the vendor includes details not in the contract, you should clarify this and request that it is added to the contract in writing. This will ensure you are protected as a consumer and that the contract is clear to both you and the vendor.
  3. Keep copies of all transactions for your records. As a savvy consumer, you should always keep copies of your receipts and contracts for all items and services you buy. Having a record of your receipts will ensure you know exactly where your money goes and that you have information on hand in the event of a dispute with a vendor or seller.
    • You should also always keep records of any warranties you have for items you buy. Make sure you keep a copy of the warranty for at least the duration of the warranty, as you will need it in the event of an issue or incident with the item.
    • There are apps available that you can download on your phone to help you keep track of your receipts, many of them free. These apps are easy to use and make it easy for you to maintain a record of your transactions without having to sift through piles of paper.

Finding the Best Deals and Sales

  1. Join the vendor's subscriber or preferred list. Subscribe to updates from your favorite vendors. These lists may provide special discounts or sale access. Many vendors offer email updates to subscribers that advertise the latest products and sales. Some vendors may also offer special discounts and advanced items to email subscribers or those in a buying club or something similar.
    • You may want to be selective about which vendors you subscribe to, as your email box may become stuffed with vendor emails over time. Subscribing to only vendors you like or value will ensure you read every offer and find deals you will use.
    • Watch out for buying clubs that cost a monthly or annual fee. In many cases, these will not provide adequate discounts to be worth it.
  2. Go for a used or refurbished item. Another way you can save money on an item is to look for a used or refurbished version of the item. You can look for used items online or at stores that sell used items. Many common household items and clothing can be found at thrift stores for half the price as they would be new.
    • You should always inspect the item before you buy it at a thrift store. Make sure there is no damage to the item and that it appears in good condition. You may not be able to return it, as many thrift stores have a no return policy, so make sure it is clean and functional before you buy it.
    • Refurbished items are items that have been used by someone else and then cleaned, repaired, and inspected so they are in like-new condition. Often, electronics are refurbished and sold by retailers online or in store. Always check the item and read any fine print in the sale price so you know exactly what you are buying.
  3. Use coupons. Coupons can be a good way to save money on everyday items and be a savvy consumer on even the smallest purchases. You can find coupons in newspapers, fliers, and online. Getting into the habit of looking at coupons on a daily or weekly basis will ensure you do not miss any good deals on items you may need around the house.
    • You should always check the coupons for any restrictions or limitations, such as how many coupons you can use at one time or how many items you can purchase with one coupon. You can ask the retailer if they will accept expired coupons, as some retailers do this, before you throw it away.
    • You may focus on coupons for specific items, such as groceries, household products, or beauty products. You can then organize your coupons so you can find each one easily and get in the habit of using coupons on a daily basis.
  4. Check for sales during peak shopping times. Most vendors will have sales during popular shopping times of the year, such as Christmas time or Black Friday. You should check for any sales or deals during this time, as many full price items may be marked down to encourage shoppers to buy.
    • You can look for information on upcoming sales or current sales by checking the newspaper, looking at free advertising fliers from businesses, and by keeping an eye on television ads for promotions or sales. You can also look online for information about sales at a certain retailer or store.
    • Keep in mind you should only buy items that you need and can afford, even if the price tag is marked down. Try to shop during peak times with a discerning eye, making sure you stay within your budget when you buy.

Addressing Issues with Products or Services

  1. Discuss the issue with the store manager. If you end up finding an issue or defect with an item, you have the right as a consumer to address it with the retailer. Perhaps you open the box and realize an item is damaged when you get home or you buy an item that turns out to be faulty or broken. You should contact the retailer immediately or as soon as possible in person or on the phone and discuss the issue. If a salesperson is not willing to help you or is not able to give you a refund, you may have to escalate the issue to the store manager.
    • You should remain calm when you speak to the store manager and explain the issue with the product. You may need to provide your payment information and proof of payment, such as a copy of your receipt.
    • Most retailers should offer you a refund if an item is damaged or faulty. If the retailer has a no refund policy, it should be stated up front so you are aware of the policy as a consumer.
    • If you speak to a retailer over the phone, document the details of your contact, including the date, time, who you talked to, what was said, and the outcome. This information may be useful if further action is needed.
  2. File a complaint with your credit card company. If you have been falsely charged for a transaction and the merchant refuses to reverse the transaction, your credit card issuer might be able to help. Contact their customer support line and request help with the transaction. Your goal will likely be to obtain a "chargeback," which reverses the sale. Most credit card issuers will fight for your rights and work to get you your money back.
  3. Contact the Better Business Bureau. If a retailer or business is not responding to your needs as a consumer or appears to be providing sub par services or products, you may be able to file a complaint with the Better Business Bureau (BBB). You can file a complaint online through the BBB website or contact the BBB by phone.
    • Keep in mind the BBB does not handle complaints related to discrimination or disputes between an employee and an employer. The BBB also cannot challenge any local, state, or federal laws as part of your complaint or issue.
  4. File a complaint with the Federal Trade Commission. The Federal Trade Commission (FTC) can address any issues related to identity theft, a business that is operating as a scam or rip off, as well as complaints about fraud or abuse from a business. You can file a complaint with the FTC online or by phone.
    • Keep in mind the FTC cannot resolve consumer complaints for you, but they can provide tips on how to get your money back from a shady retailer. Your complaint to the FTC can also allow them to flag the business so it is on their radar as a scam or fraudulent business.
  5. Take your case to small claims court. If no agreement can be reached from the previous steps, your only option is to take the dispute to small claims court. This type of court proceeding is often used to settle disputes between businesses and customers. Luckily, you can usually argue the case yourself, rather than hire a lawyer. Just make sure that you provide the judge with evidence in your favor, such as a record of the purchase and evidence of damaged or incomplete merchandise. The judge will issue a decisions either on the spot or within a few days.

Warnings

  • Be wary of “free” offers. Though it can be hard to say no to a free item or service, you should be skeptical of “free” offers from vendors or sellers. Often, theses “free” offers come with hidden fees or act as an incentive to get you to buy items you may not need. Just because an item is advertised as “free” does not mean it comes with no strings attached.
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