Buyer's Remorse

That sinking feeling in the pit of your stomach as the thrill of the purchase begins to wear off is buyer's remorse. Frequently felt after major purchases like a new house, car or boat, buyer's remorse may also appear once holiday and birthday celebrations wind down and the realization that you have overspent your budget begins to choke you. Even worse, sometimes you do not have the funds to pay for what you have just purchased.

Often in anticipation of a windfall like a money gift, loan or refinance, the more impulsive people may see the future finances as a sure thing and be devastated when the funds fall through. Creditors are vicious in their voracity to obtain funds even if paying them means literally to deny food from your children. Here are three important rules to help keep your finances in order.

1. Set up automatic payments for your monthly bills, but be sure to check your "payment due" amount frequently. Interest rates vary and you may end up a dollar short one month. Your creditor can then increase your interest rate to 30% and charge a late fee. Read the fine print of any credit card or loan carefully.

2. Take a second job if necessary to pay off creditors and tear up all credit cards except for one emergency card. Put your emergency card in a safe place and use it only for a true emergency.

3. Hesitate, hesitate, hesitate before all purchases. We do not need 99% of what we desire. If you do purchase, leave the tags on and wait a few days until the rush of acquisition wears off. If you can live without it, return it.

The idea is to save money, not to squander it. Every dollar represents the time of your life that you gave to earn it. Value your life highly and get off that treadmill of work-spend-work and introduce yourself to work-save-play.

©2009, Molly Barrow

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Dr. Molly Barrow holds a Ph.D. in clinical psychology and is the author of the new book, Matchlines: A revolutionary New Way of looking at relationships and making the right choices in love. She is an authority on relationship and psychological topics, a member of the American Psychological Association and a licensed mental health counselor. Dr. Molly has appeared as an expert on NBC, PBS, KTLA, and in O Magazine, Psychology Today, Newsday,,, Women's Health and Women's World. Please visit: or Take the new relationship compatibility test, Match Lines Systems for Successful Relationships for Singles, Couples and Business at Molly has a radio program, Your Relationship Answers at

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