So let’s say you splurge and end up buying things you don’t need or regret buying later. It happens to everyone including cheapos like me. What to do?
Return It!
If you don’t really need it return it. Doesn’t fit quite right. Return it. Credit cards too, high return it. Often stores let you return in 30 days if the items are unused.
If you order online you will likely need to pay to ship it back but spending five dollar to return versus $100 for something you don’t need still makes you better off!
Sell It!
Sell it on Ebay. Typically they charge a sales fee of 10% plus a listing fee. You can buy discounted postage cheaply on their site if you are able to weigh the item at home. You can get a digital postal scale on Amazon for ten dollars. The print the postage with tracking and get paid via Paypal. Sweet!
My rule of thumb is that if I haven’t used it in a year and don’t plan to use it in the next year then it’s gone.
Sell on Amazon. This also works for certain items like expensive books but their sales fees are higher and you will have to take the item to the post office. Ebay is better.
Sell on Craigslist. This is free but the least desirable option. It works for big items that are hard to ship. The downside is that you have to deal with all sorts of weird people in person.
Sell on Consignment: You can sell old clothes if they are in good shape at consignment shops. This only applies to nice clothes and baby clothes.
Fashion clothes and shoes can also be sold via sites such as Poshmark. Think Gucci, Hermes, Prada, Fendi, Armani not Old Navy and Gap.
Rule of Mama: If in a store put the item in the cart. Walk around. If you still want it after 30 minutes you can buy it. If not put it back. You’ve now “had it” and the need to impulse purchase is gone.
Mr. Cash Hoarder 