Money Regrets: Shoppers Regret

BOSTON (CBS) - Shoppers regret usually sets in once you get home after a shopping trip with friends. Or when the credit card bill comes due.

Buying trendy clothes or accessories can be fun but remember those plaid pants in the back of the closet. I really doubt they will ever be back in style! You are far better off buying classic stuff which will last longer. Or really cheap trendy stuff so you can give it way next season when it's out of style.

Owning the latest and greatest phone or computer. First generation phones do give you bragging rights but better to wait until the bugs have been worked out. Prices definitely go down. So all those folks who stand in line all night to be the first to buy the next new phone should just stay home and wait it out.

An inground swimming pool. It was so very hot this summer many homeowners put in pools. Pools can effect the resale value of your home negatively, and you need to maintain them. You also needed to put a fence around the pool, you may need to purchase water and don't forget the insurance.

As Seen on TV Products. You are watching TV and up pops an ad for furniture polish made in the Pennsylvania Dutch country by the Amish. Sounds so good for it renews old furniture and heaven knows you have old furniture.

You sit there with your phone and order it because the ad states it is not available in stores and you can only buy it online. Not so! I have seen it on Amazon, in Walmart, and the hardware store!

I have seen racks at Target and Walmart with some of the products that you may have seen on TV. You can then decide if it is truly something you want or need.

A very simple question to ask when purchasing anything. Is this something I need or is it just something I want? If it falls into the need category, then get it. If it's the want category think about it for 24 hours. Impulse shopping almost always produces regrets.

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You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

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