Social media has changed how many people go about their daily routines - and shopping is no exception. Today, many online retailers give you an opportunity to share your purchases on websites like Facebook or Twitter.
This sharing can be harmless and even helpful at times. But, the peer pressure that comes with solicited and unsolicited advice often influences people’s decisions regarding what to buy. In many instances, this pressure can lead some to make a purchase partially based on how it will be perceived by others, rather than how it meets their needs and budgets.
The pitfalls of this are numerous – from buyer’s remorse to overspending. But the good news is that you can avoid them with simply being conscious of their influence and adopting a few simple strategies to make sure that you’re not swayed from your financial goals.
Ask the right questions
If the point of sharing your plans is to get feedback – rather than just brag about the purchase in advance, ask clear questions. Are you buying a new car? Shortlist the options for yourself – and your friends -- and then ask for input on the two or so models that you may be able to afford. You can always consider other recommendations as long as they are within your budget and meet your needs. Not to undermine your friends, but you should look for feedback from wider Internet communities where actual users may give you answers based on their first-hand experience, rather than just hearsay.
Think objectively
Whether you’re searching online review forums or getting friends’ feedback, try to filter comments to be sure that you get objective opinions. For example, if you’re getting a new smart phone and a friend is a loyal member of the iPhone camp, perhaps you need to take his or her outright rejection of other brands with a pinch of salt. Try to ask for specific details and information – down to the exact make, brand or model of whatever product you’re considering. In addition, be conscious of your needs and skills and how they compare to those of the person who is recommending a product. A professional photographer, for instance, may love and require a camera that might be too complicated for you to operate efficiently.
Focus on priorities
Don’t lose track of your own priorities. Not every purchase is a lifetime investment – even if others think it should be. Stick to your budget even if it means you decide to go for a lower quality product that may not last as long as the top-of-the-line option. If it is not a big-ticket item, perhaps you can bypass some extra expenses, like an extended warranty.
Know when not to share
There are cases when feedback may only make matters complicated. If you’re on a very tight budget and you’re making a conscious compromise, it might not be helpful to publicize it. Friends’ approval might be hard to come by in this case and it may make more sense to just make your own choice, knowing that staying within your means is the immediate priority - and a mature decision. One exception, however, is when your friends – real friends -- can help you land a bargain without judging your choice.
Rania Oteify, a former Gulf News Business Features Editor, is currently an editor based in Seattle.
