Thursday, December 26, 2013

Buyer's Remorse

Holiday shopping is done. Gifts are opened. Guests are gone and dinner is a wrap! What may still linger though is that sucker known as "buyer's remorse." Yup, all this holiday spending might leave folks feeling just a little guilty in the aftermath.

Here are some tips to help ease the remorse:

1. Return gifts you're on the fence about. Not every gift is what you expect. You might have that fashionable third cousin who bought you the loudest shirt in town - that doesn't mean you keep it. Don't leave presents to gather dust just because. Even if you can't replenish cash from returning the item you might score an even exchange. Look to nab something essential to balance out your spending. You get a useful item as an exchange now and don't spend your own money down the road!

2. Don't let the novelty wear off. Being over something new in a short time only adds to the remorse. For me, it's like the espresso machine I really wanted one year. I now never use it. Actually, I hardly ever did. I'd make the hubby whip up lattes after all he gifted it to me. But I just never could stay away from the ritual of actually heading out to the coffee shop. That's my first mistake. I asked for something I really didn't want or need. So now it's time to get more bang for my buck and not spend on coffee outside the home and actually use my espresso maker. This is especially true with kids -bringing me to the next point...

3. Stop the bleeding. If you went overboard spending and actually bought that two year old of yours the latest generation iPad, stop the bleeding now! Don't get suckered into spending on more anytime soon. Set a plan and stick to it. Where ever you felt you overspent, set a plan to not buy for another 6-12 months. My guilty pleasure this year was home goods. I bought myself hundreds in new home goods and my hubby surprised me with a gorgeous set of new cookware. Maybe we've spent quite a bit collectively, but this is something that should last a while and we shouldn't buy more of it anytime soon. We'll stop the bleeding, for sure!

4. Change the message. If you're really feeling guilty over spending so much money, remind yourself of the moment those gifts were opened by an excited child or other family member/friend. Remind yourself of your own hard work. Remember, giving gifts shouldn't be an exercise in stress. If you purchased too much on credit resolve to responsibly pay your bill (or replenish your savings) and get back on track soon. After all, "buyer's remorse" is no fun but empowering yourself after spending so much is!

Do you feel you spent too much this holiday season? 
How do you get over buyer's remorse?

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