The Chronic Consumer

Of course this happened. This always happens to me, so I shouldn’t be surprised. A mere three months after I purchased a 3rd generation iPod Nano, Apple has gone ahead and retooled the whole thing for the recently released 4th gen Nano. So now instead of having the latest iPod Nano, I’ve already got one that looks outdated. Gee, thanks, Apple.

The new 4th generation iPod Nano comes with several new features. First of all, it looks completely different than the 3rd gen, with Apple opting to go back to the long, slim look of the 1st gen Nano. This 4th gen is longer and slimmer than earlier incarnations, though, and is also curved, which I guess is supposed to make watching videos an easier task. The 4th gen is 3.6 inches long, weighs 1.3 ounces, and is just 1.5 inches wide. Moreover, it comes in nine different “nano-chromatic” colors, including purple, orange, and red — colors that have never been used for iPods before.

There are a bunch of other technical specs that I don’t feel like getting into right now, as listing them will simply make me more depressed about the fact that my new iPod is already old. Oh, and to make matters worse, the new Nano comes in 8GB and 16GB models, with the 8GB starting at just $149. That’s a steal compared to earlier versions!

Oh, well. I’m sure there will be even better models in the future. I guess I can wait.

I don’t know about you, but I absolutely love it when they hand out free samples and other promotional products at the grocery store or mall. There are always so many new items being released, but I’m reluctant to spend a lot of money on something that I might not like. By getting a free sample, of course, I’m much more likely to give the product a fair try — and buy more if it performs as advertised.

I’ve discovered a lot of great products this way, including laundry detergent, shampoo, salsa, ice cream, and more. I’d say that in at least 40% of these situations, I’ve completely switched over from my previous brand to the new brand that I received a sample from, and in many other cases, I’m at least open to buying the new product whenever it’s on sale or whenever I have a coupon.

So manufacturers, take note: one of the most effective ways of getting new customers is to give away a few samples.

I’ve often posted about how important it is to read product reviews written by average consumers who have actually used the item you’re thinking about buying. This can give you far more insight into what to expect out of your purchase than any claims by the manufacturer.

But what about the other side of the coin? Do you actually bother to write reviews for products that you buy so that others can benefit from your experience? Are you a considerate consumer in this regard?

I’m happy to report that I do fall into this category — and I’m not just talking about writing reviews for my own website here. I post my opinions on major shopping websites, store sites, and general consumer review sites, as well as a few message boards here and there. I try to be as complete and thorough in my reviews as possible, whether I’m talking about a relatively small purchase like a bottle of Fenphedra or a much larger purchase like a laptop computer.

So if you’ve ever benefited from a consumer review that a regular shopper took the time out to write, I hope that you return the favor by posting reviews of your own. This type of process works best when lots of people participate, so do your part!

With the real estate market currently in a big mess, I know the conventional wisdom that buying is better than renting has been turned on its head. These days, a lot of so-called experts are telling us that renting may actually be the smarter financial decision, mostly because it will take many years for the housing market to rebound and for homeowners to recoup their cash.

But even though the experts are touting renting, it’s hard for me to get behind that philosophy. I’ve always been taught that renting is simply throwing away money because once the lease is up, you’ve got nothing to show for the dough you’ve spent. I mean, I can understand wanting to rent an apartment instead of buying a house if you don’t have enough cash for a down payment or whatever, but I don’t understand why you should rent if you can buy instead.

The same holds true for transportation. Leasing a car is one of the biggest money traps that you can get yourself into, so I wouldn’t recommend doing it. Instead of insisting on driving the newest vehicle on the lot, why not buy a used car to save money? Better yet, check out used Harleys to get an even better deal and save money on gas expenses to boot.

Personally, I would always choose to buy, but then again, I’m not much of a financial expert, so what do I know?!

I’ve been very diligent about using coupons recently because now that prices are rising across the board, they actually seem worth it. Today, I went to the grocery store armed with a bunch of coupons I’d been saving for a couple weeks, and ended up having an excellent day.

My original total was $153.38, but after the coupons, Preferred Customer discounts, and other in-store deals were subtracted, the total came all the way down to $121.80 — a total savings of $31.58! While that’s certainly not enough for a stay at one of those swanky St. Barts villa rentals that my aunt and uncle go to during their vacations in the Caribbean, it is enough for a trip to the movies, a couple of pizzas for a football game, or half a tank of gas. I’ll take it!

If you’ve never been particularly big on coupons, now is the time to reevaluate that position. The savings really do add up, and all you have to do is spend a few minutes taking your scissors to the Sunday newspaper!

I had to pick up some things from various stores today and I noticed that everywhere I went, there are massive clearance sales going on now. Retailers are trying to get rid of their seasonal summer products to make room for fall and winter items. That means there are massive savings to be had on just about every outdoor product you can imagine, such as barbecue grills, patio furniture, lawn ornaments, garden accessories, above-ground pools, basketball nets, and swing sets.

If you’re in the market for stuff that will make your backyard and patio a more enjoyable place, now is a terrific time to buy. Yes, you’ll probably have to store your new purchases throughout the winter, but the savings will more than offset the hassles, I’m sure!

I used to think that giving gift cards for Christmas, birthdays, graduations, and other special occasions was little more than a cop-out. After all, gift cards require no special thought on the giver’s part and show the recipient exactly how much you spent on them — both of which went against everything I’d ever been taught about giving a present.

But now that I’m older, wiser, and have tons of people on my gift-giving lists, I’ve changed my tune about gift cards. They’re just so easy and convenient, especially since they can be ordered online and almost every national retailer offers them. I mean, you can get gift cards for everything from Starbucks coffee to iTunes music and just about anything else you can think of!

Let’s face it: most people especially junior high/high school/college students prefer to select their own products, and gift cards allow them to do just that. Save yourself the time and hassle of traipsing through the mall looking for that “perfect present” that will only end up being returned anyway. Get gift cards instead!

A few people have asked me if I follow a particular process when I shop. I guess what they mean is, do I do a lot of research, compare prices, haggle with sellers, etc. This is actually a good question because following a good shopping process can end up saving tons of money in the long run.

The short answer for me is that yes, I do have a shopping process, but whether I follow it or not depends on what I’m planning to buy. For example, if I want to buy the latest novel from my favorite author, I just do it without thinking about it. But if I want to buy a big-ticket item, like a Toyota Prius or even Wilmington NC real estate, then you better believe I have a process!

Here are the steps I typically follow when considering large purchases:

• Read expert and consumer reviews of all comparable products.
• Decide which features I must have, and which are expendable.
• Find a product that has all the features I want.
• Read more reviews about the particular brand/model I’ve chosen.
• Start comparing prices from various retailers.
• Read customer reviews about the retailers that offer the lowest prices.
• Select a retailer based on good reviews and/or past personal experience.
• Purchase product.

This process doesn’t take very long at all, and has definitely saved me money over the years. Plus, I’ve been able to avoid a couple of potentially disastrous shopping experiences thanks to vetting merchants prior to ordering, so who knows what other kind of damage I’ve saved myself from.

Obviously, your own shopping process doesn’t have to incorporate these exact same steps, but as long as you do something similar instead of making impulse purchases, you should be ok!

One way I get money for shopping is by reselling products that I no longer use. This usually pertains to books, video games, and DVDs, since most of my old clothes go to Goodwill or the Salvation Army.

At first, I thought reselling my stuff would take more time and energy than it was worth, but I’ve quickly changed my mind. I list on cheap auction sites or free ad sites, and usually get a fair amount of interest in what I’m selling. After paying for packing materials and accounting for the time I spend on the endeavor, I still come out a couple hundred bucks ahead — which is definitely worth the hassle!

So if you find yourself in need of some quick cash, I recommend putting some old stuff up for sale online. You’ll get better prices than if you had a garage sale (people are less likely to haggle with an online sale), and you’ll be surprised at how much demand there is for even the most obscure book or video game titles!

One thing I’ve come to appreciate about a few online retailers that I shop at again and again is the way they pay attention to the details. I love stores with liberal return policies, that ship my order when they say they will, that respond quickly to customer service inquiries, and that handle my purchased products with care.

I know these all sound like basic responsibilities that you’d expect any store to cover, but unfortunately, that’s not the case these days. Most places are looking to keep overhead costs down by providing shoddy service, and those are stores that I tend to avoid making repeat purchases from.

By contrast, the stores that treat me well, offer great prices, and go the extra mile by putting my purchases in custom boxes so they don’t get damaged during shipping are the ones I spend my money at again and again.

So what is it that you look for in online stores? What are some things that get you to spend your money at one particular place over another? What keeps you away from some places?