Self-Dealing
ARE THERE TIMES when we waste too much energy in pursuit of a good deal? I have clients who get so caught up in proving they���re smart consumers that they can neglect their own needs.
One client runs a successful business. She���s saved more than enough to retire early, should that become her goal. She���s an outstanding negotiator. The problem is, her diligence can sometimes cause her stress.
She and her husband have young kids. They could use a new minivan. Amid the pandemic, dealers are demanding far more than list price for the few vans they have in stock. She feels she���d be a chump to buy when prices are so high. The situation is causing her tremendous frustration because it���s unclear how long the shortage will last. While she understands that this ���overpriced��� purchase wouldn���t measurably affect her family���s savings, her concerns have stopped her from moving forward with the purchase.
An elderly couple that I work with was also having issues buying a car because of today���s tight supply. Their current car had been breaking down, so they had safety concerns, as well as repair bills. The lack of reliable transportation���even to important medical appointments���was nerve-racking. Still, they fretted about ���overpaying��� for a vehicle that a neighbor had bought for well below list price a year earlier.
It���s clear that ego can influence our buying decisions. This raises some questions that may be helpful to others:
Do some of us take such pride in always being smart consumers that we forget that money is only a medium of exchange?
Are we so concerned about not getting taken advantage of that we impose unnecessary limits on ourselves?
Is our habit of being clever���as opposed to wise���always helpful?
Are there situations when we should just accept unfortunate timing and move on with our lives?
Clearly, if any purchase jeopardizes our finances, we should be cautious. That���s just good planning. But if we���re fortunate enough to comfortably afford a purchase, our energy may be better spent being grateful rather than being shrewd customers.
One client runs a successful business. She���s saved more than enough to retire early, should that become her goal. She���s an outstanding negotiator. The problem is, her diligence can sometimes cause her stress.
She and her husband have young kids. They could use a new minivan. Amid the pandemic, dealers are demanding far more than list price for the few vans they have in stock. She feels she���d be a chump to buy when prices are so high. The situation is causing her tremendous frustration because it���s unclear how long the shortage will last. While she understands that this ���overpriced��� purchase wouldn���t measurably affect her family���s savings, her concerns have stopped her from moving forward with the purchase.
An elderly couple that I work with was also having issues buying a car because of today���s tight supply. Their current car had been breaking down, so they had safety concerns, as well as repair bills. The lack of reliable transportation���even to important medical appointments���was nerve-racking. Still, they fretted about ���overpaying��� for a vehicle that a neighbor had bought for well below list price a year earlier.
It���s clear that ego can influence our buying decisions. This raises some questions that may be helpful to others:
Do some of us take such pride in always being smart consumers that we forget that money is only a medium of exchange?
Are we so concerned about not getting taken advantage of that we impose unnecessary limits on ourselves?
Is our habit of being clever���as opposed to wise���always helpful?
Are there situations when we should just accept unfortunate timing and move on with our lives?
Clearly, if any purchase jeopardizes our finances, we should be cautious. That���s just good planning. But if we���re fortunate enough to comfortably afford a purchase, our energy may be better spent being grateful rather than being shrewd customers.
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