Too many people regret big purchases they’ve done throughout life. If you’ve also found yourself with an empty wallet and expensive but useless things, continue reading this article. Here, we will represent many purchases you should never make. Create a simple yet satisfying life!
Designer clothes. Trying to impress others with your new designer clothes? When you just think about that for a bit, it doesn’t make any sense. Besides that, the moment will come (sooner than you think) when the fashion will change and your new expensive clothes will go out of style. End of the story? Those will just gather dust in your closet. It makes more sense to buy simple quality clothes at reasonable prices. When you spend big bucks on designer clothing, you’re paying for the brand name and the bragging rights that go along with wearing something exclusive, not for the quality of it.
New cars. Buying a new car doesn’t make a lot of sense anymore. It starts losing value the moment you start driving it. On the other hand, if you buy a used car, you let someone else absorb the loss from the initial depreciation. Typically, they depreciate by 25% during the first 12 months of ownership, according to Carfax.
Timeshares. Nowadays, timeshares commonly take the form of vacation interval plans. These arrangements entitle “owners” to points they can redeem for stays at various properties but generally still require owners to pay ongoing property maintenance fees that can cost thousands of dollars yearly. A timeshare property has divided ownership or rights of use. If you know exactly what you’re getting into, you should avoid the complications of buying into a timeshare vacation home.
Recreational vehicle. Unless you plan to do a lot of traveling on the highway, renting an RV is probably more practical. The idea of taking a vacation in a home on wheels may sound enticing, but consider what you’ll do with an RV once the trip is over. How often will you use it? Some cities have laws against parking RVs on streets or in driveways for prolonged periods. If you have to rent storage space for your RV when you’re not using it, you’ll have an ongoing expense on top of unavoidable ongoing costs.
Are improved functionalities making you buy a new version of the phone you already have? It’s important for people to think through how often they are going to use this thing (if you barely use them, your money will go to waste).
Expensive smartwatch? There’s no need for it because you can get an amazing wristwatch for about $60 that does many things perfectly well.
Expensive wedding rings. It’s okay to get a ring you like, but spending a fortune on a wedding ring won’t show how much you love that person.
Kitchen appliances you won’t use. There are too many kitchen appliances on the market these days. People buy them like they’ll use them on a daily basis. What happens next? You use it once or twice, then loan it to your friends, and then put it in your basement because it takes too much of your living space.
Expensive beauty treatments in the salons. There’s little evidence that such treatments work, and besides that, you may even end up with different allergic reactions and skin rashes. Too many ladies spend a fortune on beauty treatments, but in the end, they find themselves in an endless circle of needing another one, or even worse – getting rid of the consequences some treatment has caused.
Boats. If you’re not a fisherman, then you probably don’t need it. You know how it’s said, there are two best moments related to the boat owner’s life. The first one is when they buy it, and the other one is when they sell it. I think that’s enough to be said…
Have you ever made a big purchase you’ve regretted?
What are your big purchasing plans for the future?