Taking time to think about a purchase is one of the best ways to save money and spend wisely. The urgency associated with buying something — whether it’s from internal or external pressures — can lead to a bad purchasing decision. Waiting helps you avoid that mistake because it gives you time to think clearly. Holding off can also land you a better deal, something a friend of mine experienced recently.
We went shopping in a nearby town this past weekend, excited about hitting up the stores we don’t have locally. After ogling at the overpriced goods at Crate & Barrel and Pottery Barn, we walked into Macy’s. As I’ve mentioned previously, I’m in the market for some olive-colored skinny jeans and my friend found a few pairs for me to try on. The denim didn’t work out, but she met me in the fitting room wearing a gorgeous Calvin Klein coat. It was one of those garments that appeared to be made just for her. Despite obviously wanting to take it home, she decided it was priced beyond what she was willing to pay and put it back.
During our mid-day walk around the office this week, she said her husband was surprised she didn’t come home with more shopping bags from our trip. I joked about the coat, telling her she could always have purchased it to meet his expectations. That’s when she admitted to having ordered the coat online the night before!
Apparently she was still thinking about the coat after our trip, so she went online the next day to see if it was offered at the same discount as in-store. As luck would have it, Macy’s was having a one-day, online-only sale that increased her savings to over 50 percent. The deal was too good to pass up and she ordered it on the spot.
Holding off on the purchase netted her a better deal on something she still wanted after the excitement of the first look passed. While extra savings aren’t always guaranteed, wise spending typically is when you take time to think about it.