“I’m Not Buying It”
Last weekend I was full of anxiety, but not for reasons you would have expected. The anxiety wasn’t related to work, my personal life or The Knowledge Bank. Last weekend was a major release date for several popular tennis shoes including the Bugs Bunny Jordan’s, Barkley Foam Posites, the Elite Kevin Durant’s and the Elite Lebron James’s. Normally, I’m not really the tennis shoe type of guy, but I want to do something a little more casual for the summer. Therefore, I have been on an intense search for a pair of kicks that compliment my swag. Unfortunately, all the shoes that were hitting the shelves last weekend went for at least $160 and the Barkely Posites ring up for a jaw dropping $234!! That’s a lot of money for tennis shoes when, in my situation, I would only wear them a few times a month on my casual fresh days. Fortunately for me, I have a connect who put me on a list to visit a “special” Nike store in Memphis where I could get the shoes for half price. Sounds like a good deal, but there were a few stipulations.
First, I had to drive 2.5 hours to Memphis which I was willing to do. The second stipulation was that I needed to arrive at the store no later than 6am. I’m not a huge fan of early Saturday mornings, but for half price shoes, I was open to it. The last stipulation was the problem. The store did not open until 10am, which means I would have had to wait in line for 4 hours. That was a deal breaker. I understand patience is a virtue, but not for tennis shoes. So, on Friday, April 19th, I decided I would pass on all four pair of shoes. There was no way I was driving to Memphis, leaving Nashville at 3am, waiting in line for 4 hours just to buy shoes. I didn’t care about paying half price.
After the mental tug of war on Friday, I woke up early Saturday, April 20th still kind of wanting the shoes. Although it was too late for me to drive to Memphis, I knew that there was a Sport Seasons about 5 miles from my house that always carries the new release tennis shoes. I gave in to the temptation, hopped in my car and drove to Sport Seasons. On the way, I called the store to make sure they were carrying the J’s. When I called the phone rang 2 times, a nice young lady answered and to my pleasure they were carrying the J’s. While driving to the store, I spent some time talking to myself. I asked myself questions like, “Are you willing to pay $200 for these shoes?” “How long are you willing to stand in line?” “What if they don’t have a 10.5?” “Would you rather get a size 10 or size 11?” As I was having this question and answer period with myself, before I knew it, I was in the parking lot of the store.
To my surprise the store had opened early and there was not one person inside the store. What do you think I did? I’ll tell you. I parked into the closes parking spot to the door, put my truck in park, took a deep breath, put my car in reverse and took my crazy butt back to the crib. I know what you are thinking, “This dude is C R A Z Y!” You’re not alone. My wife felt the same way. You are also probably wondering why I decided to pass on the shoes. The reason I passed on the shoes is the lesson I want you to learn from this article.
Ultimately, I did not want the shoes enough to pay $200 for them. At this point in my life, considering that I teach others how to develop healthy financial habits, I should not ever experience buyer’s remorse. Buyer’s remorse is when you make a purchase and at some point in the future you regret the purchase. “At some point in the future” is quicker for some than others. Some shoppers experience buyer’s remorse immediately after their purchase and have the wherewithal to return the unwanted item. They cost themselves a little time by having to make the return, but in the end, they get their money back. For other shoppers, more time passes before they experience buyer’s remorse. This group reaches the point of sorrow after realizing their money could have been put to better use or after realizing they purchased an item for the wrong reasons. Buyer’s remorse is a common feeling amongst people with poor financial habits. Here are a few tips on how to avoid experiencing buyer’s remorse:
Make sure you can afford the item you are purchasing. If you are broke after the purchase, you cannot afford it.
If you are wavering on a purchase, think about it over night.
Research your purchase. Read reviews and shop for the best price possible.
Do not make purchases to keep up with the latest trends.
Understand that “on sale” does not always translate to “good purchase.”
Shop with an accountability partner (AP). Your AP should be someone who is mature and responsible, who you trust to be your voice of reason.
There’s a population of people that believe half price J’s or “no-wait” J’s are the best deal you can get in the sneakerhead community. But after considering tips 2, 4, 5 and 6 I’m not buying it. LITERALLY!