Why We Buy Bad Products?
Lot of people fail to manage their finances and therefore have to take out loans. Significant reason why people mess up their finances is because they buy bad products.
Falling For The Marketing Tricks
If you wish to buy something, write it down in your buying list and give it a priority. To avoid falling for the marketing tactics of marketers, buy only the things you have written in your lists. Always invest in the highest priority stuff first.
Need Vs Wish
A necessity is a thing which you will use on a regular basis as it makes your life easy. On the other hand there are things which we wish to have, like shiny new thing that recently caught our eyes. But if we think carefully and try to imagine a life with them, we would easily get to the fact that we won't ever use them.
We also fail to research on products which we don't actually need because it feels like we are wasting our time over such an insignificant thing.
Research
Researching about the product is hard and time consuming but its well worth your time. There are services like Consumer Reports which help consumers make better buying decisions. Also there are YouTube videos and many websites, which rate and review products. There are some governmental agencies too which give products efficiency rating.
If you are buying online then do read the reviews before buying. If there are no reviews then look at the seller reviews and reviews on his other offerings. Usually the seller who sells products belonging to a single category are reliable, like an online store selling only tech gadgets.
Yelp.com also offer reviews about businesses.
Good Enough
You have to make one law for yourself and that is to never to compromise on quality. Because most of the things we buy are not of the nature that if we won't but them we will die. So if you have to delay the purchase of something for financial reasons, then do so. But don't compromise on quality. If you live by this principle, you will soon find out that quality products are, usually only 30% more expensive than cheap products and gives you infinite times more value.
Buying for the sake of buying
Sometimes we buy because of the pleasure that we get when we make a purchase. But this way of life is bad for you and the planet. You will soon loose control of your finances and have to resort to credit offerings of financial institutions, once you get sucked into a debt, it's very hard to get out of it.
Also those who can afford to splurge should not do so, because there are other better ways to spend money. If you have excess money then you should spend it on one of your goals like starting a business to solve a problem that you yourself face.
Short Term Benefit
Buying things just to get benefit out of it one time or for one month, will result in the purchase of a bad product. Bad products cost you way more in the long term, gives you a poor experience and are bad for the environment.
Consequences of Buying Bad Products
Well it's obvious that when you buy a bad product you will get a bad experience and it won't have all the features of the better product and moreover you won't even know what you missed because you never tried the better product.
But the worst thing I think that happens when we buy bad products, is that the image of the whole industry is tarnished. For example cheap brain nutrition products won't work, so the person who does not know the fact that only expensive brain supplements work, after using the cheap one and not seeing any benefit might claim that brain supplements are fraud.
Listen to the podcast about this topic, in Urdu: Google Podcast, Apple Podcast