Bankruptcy

Spend Smarter to Save Time & Money

By guest-writer

As anyone recovering from bankruptcy, trying to eliminate debt or otherwise reshaping their finances knows, shopping and buying new things can be a source of stress ? after all, we all need stuff now and then (whether it's a new part for a car, a new refrigerator or new shoes for our kids). But we shouldn?t have to worry that our purchase will turn into a nightmare if something goes wrong.

A recent post from WalletPop.com outlines what it calls a ?Customer Bill of Rights,? which offers suggestions for what ordinary consumers should look for in their purchasing to make sure they won?t be scammed or led into a labyrinth of red tape should something malfunction.

Know What to Look for in a Company

Here?s a summary of how to better navigate your spending and buying experiences.

• Look for contact information. If a company doesn?t readily display contact information (with email addresses or phone numbers on a web site and actual representatives in a store), you may not want to shop there. After all, if you can?t easily communicate with the company, you?ll probably be in for some serious headaches if you want to ask about a return or repair policy down the road. Before you spend your money, make sure you know how to ask the vendor questions.
• Know your timeframe. If the first person you speak with can?t help you resolve a problem, ask for a manager. It?s easy during customer service calls to get frustrated and give up, but remember that you spent your money on this company?s product, and you need help with it. Customer service reps shouldn?t act like this is a burden; if they do, you?ve learned one company not to buy from in the future.
• Know the policies and ask about changes. Return and warranty policies change frequently at some retailers. Be sure to read such policies and ask how a company handles changes: if, for example, you buy something and the policy changes before you need it fixed, what will your options be?
• Be wary about warranties. Many stores offer expensive warranty deals that are not worth your money. Instead, consider looking at online warranty vendors (like SquareTrade.com) or simply setting aside a fund for all your appliances ? that way, you have somewhere to draw money from if you need repairs.
• Do some homework. In an ideal world, we wouldn?t have to worry about whether a retailer would treat us respectfully if we needed to make a return, but in the real world some vendors have better reputations than others. A quick online search should yield lists of companies that have high and low ratings for their customer service. You can also look at forums where customers chat about their experiences.

Full post as published by The Bankruptcy Blog on February 02, 2011 (boomark / email).