Welcome back! Conducting research before you make decisions is a great way of avoid impulse buys and it allows you to make the most  sensible and affordable decision. This blog post describes a few situations where not researching and making decisions based on instinct can be disastrous.

If you missed our first instalment view it here: http://www.myblueprint.ca/worst-blunders-students-make-with-their-money-part1/

Failing to research product pricing before making purchases. Comparison-shopping is one of the best ways to save money. Daily items like toothpaste may be available at lower prices than you realize – utilize flyers and coupons – you’d be amazed at how often deals come up. With larger purchases like electronics, designer clothing, etc. it’s always important to research who’s making better quality as well as who’s offering the best price.

Overpaying for school. When choosing a post-secondary institution, compare the program costs as well as the extra fees tacked on to the programs you want to take. Often different schools will have varying tuitions and there will be opportunity to achieve the same credentials at a lower cost. (myBlueprint Post-Secondary Planner is a great way of checking out and comparing these costs!)

Making poor credit card choices. Always read the fine print! Don’t just go on what the company is offering up front, most credit card companies will throw all kinds of gimmicks at you to get you to sign up. For example, that “super low interest rate” they’re promising, check to find out how long you actually get that rate for before it rises to the normal rate.

Do you do your research before making major purchases and decisions? Share your tips in our comment section! Check back soon for the third installment of this blog series where we investigate time management and saving money for your future.

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