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Making the right 'spur of the moment' purchase

For big purchases, there are lots of ways to ensure getting the best value. But what about small, day to day decisions? Three tips for making the right 'spur of the moment' purchase. 

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Alex Brandon/AP/File
Salsas and other items in the International food aisle of a grocery store Wednesday, Oct. 16, 2013 in Washington. Hamm's tips for making smart, small purchases include buying gneneric and focusing on specific qualities you want out of the product.

Many times in the past, I鈥檝e talked about my process for figuring out a major purchase. I鈥檒l consult聽Consumer Reports, I鈥檒l talk to my social circle, and I鈥檒l usually end up buying with reliability as a primary factor.

This process really helps for anything that鈥檚 expensive, because the time you invest in figuring out the right purchase, but what about a spur of the moment purchase?

For example, what do you do when you stroll into a grocery store with a grocery list that your wife assembled? One of the items is 鈥渢ortilla chips,鈥 but when you go down the chip aisle, you find that there are thirty types of chips. Ideally, you want to pick the one that offers the best 鈥渂ang for the buck鈥 for you, but how do you figure it out?

This is a problem that I鈥檝e thought about quite a lot because, frankly, it comes up fairly often. I鈥檒l go to the store with an item in mind that I want to purchase, but when I finally reach that item, I鈥檒l find two or six or twenty different versions of the item. Knowing how to make the best choice in that situation saves you a little money and probably a little time, too, but if you can make the best 鈥渂ang for your buck鈥 choice over and over again, you鈥檒l end up saving a lot of time and a lot of money.

You might think that buying things like laundry detergent and tortilla chips and body wash might have completely different processes for figuring this out, but I鈥檝e found that they really do not. I end up using the same two steps in this situation each and every time I face it, regardless of the product.

Here鈥檚 how I approach it.

If I鈥檓 unfamiliar with the item in question, I just buy the generic version.
Why? If I don鈥檛 know anything about the product, I can 鈥 at best 鈥 name only a thing or two that would define a 鈥済ood鈥 version of this product. I simply don鈥檛 know.

Take the tortilla chips. I鈥檝e eaten tortilla chips before, but I can鈥檛 necessarily stand there and articulate what makes a good chip versus a bad one other than something like 鈥渟tale is bad.鈥 In that situation, I just grab the generic.

The generic version is usually the one with the lowest cost. It usually succeeds at that bare minimum standard you have in your head for a product you鈥檙e unfamiliar with.

If I can state a specific thing or two that I want from the product, I look for ones that mention that feature聽and聽has a customer service number.
The logic here is simple. If a product talks about having a specific feature, then the product is pretty likely to have that feature. If it does not, you want some form of recourse, so the customer service number provides that.

This usually provides a small handful of products, so what I usually do is start from the lowest cost version of the item and work upwards. The first one I find that has these two things is the one I go home with.

This 鈥渢wo-step鈥 basically covers every product I run across when buying groceries or household products. I end up with a workable version of the item without paying too much and if I wind up with something terrible that didn鈥檛 meet my expectations, I have recourse 鈥 that customer service number, which often delivers coupons that I can use on some other product the company makes.

Now, this is just the start of the buying process. I usually judge the product once I have it at home. Does it do the job well? Am I noticing elements of the product that actually matter to me?

Often, I鈥檒l figure out a thing or two I would want in a product if I were to buy it again, and I鈥檒l usually jot these down in聽, not because I refer to it too often, but because writing it down gets it out of my head. Sometimes, I鈥檒l check Evernote when I鈥檓 buying an unfamiliar product because I might simply not be remembering it.

A final note:聽the brand name doesn鈥檛 matter beyond helping you find a product on a shelf.聽The contents of the container aren鈥檛 automatically better because of the name on the outside of it. I only use brand names if I know one that works really well and consistently has a good price.

The post聽聽appeared first on聽.

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