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Steps to Becoming a Wise Consumer

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by

Megan Dean

on 10 September 2013

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Transcript of Steps to Becoming a Wise Consumer

Steps to Becoming a Wise Consumer
1. Think about what you NEED
Know what your requirements are for that particular product or service. Remember: Price is NOT necessarily an indication of quality.
Compare Stores
Buy from the best source with the best reputation. Deal with businesses which have a reputation for being reliable and honest. Find the lowest price!
Compare Brands
Do research online, ask friends and family members who have experience with a brand for their opinions.
Check for any extra charges
Often extra charges such as delivery fees, installation charges and service costs are not included in the price.
Read and Understand the Warranty
Read the warranties when comparing brands and note which is intact for the longest period of time and what is covered.
Read the Contract terms carefully
Never sign a contract that you do not understand or that has blank spaces.
Read and follow the use and care guidelines
It's important that you use the product for its intended purpose. Following guidelines of caring for the product will extend the life.
Keep all sales receipts, warranties and instructions
This is especially important for larger more expensive items. Sales receipts are needed when a complaint is necessary.
Understand the refund or exchange policy
Read the stores policy and make sure you agree with it before making your purchase.
Buy within your budget
Many consumers find themselves in financial problems because they buy without regard to their budget.
Check your bill for accuracy
sometimes innocent mistakes are made. When buying a product on sale check that you have been charged correctly
Exercise the right to protest
Report trouble as soon as it occurs. Keep record of all the people you talk to about an issue
Full transcript