Credit Cards » Keep Those Receipts

Keep Those Receipts

Have you ever bought something on impulse and then decided a few days later that you made a big mistake with the purchase? I know I have. More times than I want to think about. I’ve learned a few tricks that might help you control your impulse-buying monster.

First, always keep your receipts. This means for everything you buy, whether you pay by cash, credit card, or debit card. Keep an envelope especially for receipts, and as soon as you come home with a purchase, put your receipts in this envelope. You might already have a filing system where you keep your monthly receipts. It doesn’t matter where you keep them. Just make sure you can find them when you need them.

For impulse purchases, especially clothes, don’t use the item for a few days. Leave the price tag on the item. Then put the item in a closet, cabinet or drawer for a few days. Give yourself some time to decide if you really want it. If you decide that it’s really not something that you want or need and you would rather have your money back, you’ll be able to return the item without any problem. Your purchase will be in the same condition it was in when you bought it, and you’ll be able to find the receipt.

I’ve done this dozens of times with clothes. I recently bought a shirt and hung it in my closet without removing the tags. I could see the shirt every day, and every day I tried to decide if I really wanted the shirt. After five days, I realised that I really didn’t like the colour and probably wouldn’t wear it very often, if at all. The shirt went back to the store, and I pocketed the money for a future purchase.

Keeping all your receipts will also make it easy to return faulty items. If your put-it-together-yourself table is missing a bolt or your hair dryer doesn’t work on the highest temperature, you’ll have your proof of purchase so you can return the item for a full refund.

My suggestion for you:

Make sure you keep the receipts for all your purchases so you can return any defective items or items that you decide you don’t really want. The first time you realise you’d rather have the money than your latest impulse buy, you’ll be glad the receipt was so easy to find.

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Posted 24th June 2009 at 3:40 pm

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