WEBVTT - Do you overbuy or underbuy? 

0:00:03.440 --> 0:00:06.680
<v Speaker 1>Welcome to Before Breakfast, a production of I Heart Radio.

0:00:09.200 --> 0:00:14.880
<v Speaker 1>Good Morning, This is Laura. Welcome to the Before Breakfast podcast.

0:00:15.720 --> 0:00:19.640
<v Speaker 1>Today's tip is to figure out whether you over buy

0:00:19.800 --> 0:00:26.880
<v Speaker 1>or underby, and then compensate accordingly. Some people tend to

0:00:26.960 --> 0:00:30.120
<v Speaker 1>buy more than they need, more food than they need

0:00:30.120 --> 0:00:32.760
<v Speaker 1>at the grocery store, more house than they need for

0:00:32.800 --> 0:00:35.920
<v Speaker 1>their family size, more dressy clothes than they need for

0:00:35.960 --> 0:00:40.800
<v Speaker 1>their social calendar. Then there are people who underbuy and

0:00:40.960 --> 0:00:43.960
<v Speaker 1>end up wearing holes in their socks, waiting for a

0:00:44.040 --> 0:00:47.040
<v Speaker 1>slow computer without adequate memory for the software they use,

0:00:47.159 --> 0:00:50.040
<v Speaker 1>or carrying a workbag that makes clients mistake you for

0:00:50.040 --> 0:00:54.400
<v Speaker 1>the intern. Now, I consume a lot of personal finance literature,

0:00:54.400 --> 0:00:57.880
<v Speaker 1>and I know that there is a certain glorification to underbuying.

0:00:58.600 --> 0:01:03.680
<v Speaker 1>But just as overbuying isn't smart, underbuying can be problematic too.

0:01:04.680 --> 0:01:07.600
<v Speaker 1>Contact lens solution, for instance, is cheaper to buy in

0:01:07.680 --> 0:01:11.360
<v Speaker 1>bulk than buying one small bottle at a time. If

0:01:11.360 --> 0:01:13.600
<v Speaker 1>you run out of groceries, you have to go back

0:01:13.640 --> 0:01:18.920
<v Speaker 1>to the store, which can waste time and gas. So

0:01:19.080 --> 0:01:22.120
<v Speaker 1>rather than view one or the other as the right way,

0:01:22.520 --> 0:01:25.520
<v Speaker 1>I think it's better to simply recognize which camp you

0:01:25.600 --> 0:01:30.480
<v Speaker 1>fall into. If you recognize where you fall on the spectrum,

0:01:30.560 --> 0:01:36.680
<v Speaker 1>you will be able to compensate and make right sized purchases. So,

0:01:36.840 --> 0:01:40.959
<v Speaker 1>for instance, if you know you tend to underbuy, always

0:01:41.000 --> 0:01:44.319
<v Speaker 1>buy a little more than you think you need. Order

0:01:44.360 --> 0:01:48.000
<v Speaker 1>a few more holiday cards, buy a few more groceries,

0:01:48.880 --> 0:01:52.920
<v Speaker 1>add one more item to your restaurant delivery, order by

0:01:52.960 --> 0:01:57.240
<v Speaker 1>an extra pair of socks. For bigger purchases, pause and

0:01:57.320 --> 0:02:01.240
<v Speaker 1>reflect on your needs and desires, and don't assume that

0:02:01.280 --> 0:02:06.880
<v Speaker 1>the cheapest model is automatically the right one. Think through

0:02:07.000 --> 0:02:09.480
<v Speaker 1>what your experience of each option would be over the

0:02:09.480 --> 0:02:13.440
<v Speaker 1>long term before you decide what's best. You could also

0:02:13.480 --> 0:02:17.399
<v Speaker 1>try to enlist a thought partner. Ask a trusted friend

0:02:17.400 --> 0:02:19.760
<v Speaker 1>whether she thinks the couch you've chosen is the one

0:02:19.840 --> 0:02:22.600
<v Speaker 1>you'll love for the long term, or whether you are

0:02:22.639 --> 0:02:27.040
<v Speaker 1>just blinded by the attractive price. Now, I'm not recommending

0:02:27.120 --> 0:02:30.280
<v Speaker 1>ignoring a budget. You just want to make sure that

0:02:30.320 --> 0:02:32.840
<v Speaker 1>you are really thinking about your needs and your day

0:02:32.840 --> 0:02:36.359
<v Speaker 1>to day life within the guardrails of your budget. When

0:02:36.400 --> 0:02:39.440
<v Speaker 1>all your underwear has holes in it, well, it is

0:02:39.480 --> 0:02:45.560
<v Speaker 1>not a terrible thing to spend some money on new pairs. Really, Now,

0:02:45.600 --> 0:02:48.120
<v Speaker 1>on the other hand, if you typically over by, which

0:02:48.160 --> 0:02:53.480
<v Speaker 1>is probably the more common curse, recognize that and compensate

0:02:53.760 --> 0:02:57.440
<v Speaker 1>in the other direction. You may not need a dining

0:02:57.480 --> 0:03:00.120
<v Speaker 1>room table that seats twelve, since you only host that

0:03:00.160 --> 0:03:02.840
<v Speaker 1>many people once a year at most, and when you do,

0:03:03.120 --> 0:03:06.919
<v Speaker 1>the conversation flows better at two tables of six. Your

0:03:07.000 --> 0:03:10.639
<v Speaker 1>kids may not need snowsuits if you live in Florida.

0:03:11.160 --> 0:03:13.720
<v Speaker 1>If you're a family of five with three little kids,

0:03:13.760 --> 0:03:16.640
<v Speaker 1>you will probably be just fine ordering the blue Apron

0:03:16.760 --> 0:03:19.799
<v Speaker 1>box for four. If you do have a family of four,

0:03:19.919 --> 0:03:22.440
<v Speaker 1>you probably don't need the big suv with the third

0:03:22.560 --> 0:03:25.440
<v Speaker 1>row of seats for that one time you might need

0:03:25.480 --> 0:03:29.640
<v Speaker 1>to carpool friends. When that happens, you will figure something out.

0:03:30.880 --> 0:03:33.960
<v Speaker 1>So think about yourself and what category you fall into.

0:03:34.920 --> 0:03:37.440
<v Speaker 1>If you are always running out of stuff, you are

0:03:37.600 --> 0:03:41.240
<v Speaker 1>probably an underbuyer. If you are having to throw things away,

0:03:41.760 --> 0:03:43.680
<v Speaker 1>or you're always feeling like you need to clean out

0:03:43.680 --> 0:03:48.080
<v Speaker 1>your closet, well you might be an overbuyer. See how

0:03:48.120 --> 0:03:51.680
<v Speaker 1>this identity sits, and then the next time you go

0:03:51.720 --> 0:03:56.080
<v Speaker 1>to make a purchase, consider how you can compensate if

0:03:56.120 --> 0:04:00.200
<v Speaker 1>you underbuy by a little more, if you over by

0:04:01.160 --> 0:04:04.480
<v Speaker 1>by a little less, you'll be more likely to hit

0:04:04.880 --> 0:04:10.160
<v Speaker 1>the just right amount. In the meantime, this is Laura.

0:04:11.000 --> 0:04:14.400
<v Speaker 1>Thanks for listening, and here's to making the most of

0:04:14.400 --> 0:04:23.800
<v Speaker 1>our time. Hey, everybody, I'd love to hear from you.

0:04:23.800 --> 0:04:26.719
<v Speaker 1>You can send me your tips, your questions, or anything else.

0:04:27.440 --> 0:04:31.040
<v Speaker 1>Just connect with me on Twitter, Facebook and Instagram at

0:04:31.080 --> 0:04:35.880
<v Speaker 1>Before Breakfast pod. That's b E the number four than

0:04:36.000 --> 0:04:39.400
<v Speaker 1>breakfast p o D. You can also shoot me an

0:04:39.400 --> 0:04:43.160
<v Speaker 1>email at Before Breakfast podcast at i heeart media dot

0:04:43.240 --> 0:04:46.160
<v Speaker 1>com that Before Breakfast is spelled out with all the letters.

0:04:46.760 --> 0:04:48.840
<v Speaker 1>Thanks so much, I look forward to staying in touch.

0:04:54.680 --> 0:04:57.800
<v Speaker 1>Before Breakfast is a production of I Heart Radio. For

0:04:57.880 --> 0:05:00.920
<v Speaker 1>more podcasts from my heart Radio, visit the I heart

0:05:01.000 --> 0:05:04.360
<v Speaker 1>Radio app, Apple Podcasts, or wherever you listen to your

0:05:04.360 --> 0:05:07.440
<v Speaker 1>favorite shows. H