With Christmas now just a few days away, chances are you still have gifts to buy. But what are the best gifts for those people on your holiday list who say they have everything?
Buying Columbia SC houses is not on the list of the 7 dumbest purchases you could make, but these things that we tend to “treat ourselves to” usually leave us wallowing in regret later on.
Buying Columbia SC Houses Not on This List
If you’re considering buying any one of the many Columbia SC houses on the market, psychologists say that’s a smart move. They also say there are some impractical things we should step away from before buying and then wishing we hadn’t. Some of these items are downright absurd, yet we tend to convince ourselves that we deserve them, or they’re important in our lives.
1 – 3D TVs
The majority of 3D television owners regret their purchase. It’s not that the technology isn’t cool. The leading complaint is that there just isn’t enough 3D content to make ownership of one of these futuristic devices worthwhile.
When you’re coughing up between $2,000 and $12,000 for the TV plus another couple hundred bucks a pop for the glasses, that’s sort of a deal breaker. Most people find that it’s a major annoyance to wear the glasses that make the third dimension pop. Sort of like wearing your sun glasses in the house.
2 – Whirlpool Tub
Jacuzzi-style whirlpool tubs can be a real mood killer. Not only are they noisy, they’re time consuming to fill with water and prone to completely drain your hot water tank. Plus they’re expensive to operate, not to mention expensive to buy and install.
Bottom line: Most people don’t use them enough to outweigh the negatives.
3 – A Timeshare
The cost of owning a timeshare extends well beyond the mortgage. Annual maintenance fees, property taxes, and special assessments are piled on top — and they can be quite expensive.
Want to sell it after you realize you made a mistake buying it? Timeshares are difficult to unload. Few people are interested in purchasing a timeshare in the aftermarket, meaning you’re very likely to lose money even if you do find a buyer.
4. A Car They Didn’t Research
A consumer watchdog report found that nearly a third of all motorists regret their most recent car purchase. Among the top triggers of dissatisfaction: The car is faulty, it costs more to run than they anticipated, or they simply didn’t do enough research.
A car is one of the most expensive purchases you’ll make (2nd to buying any Columbia SC houses). So before pulling the trigger on a flashy sport convertible or a clunker with the little engine that could, experts say it’s important to weigh all your options and do your homework.
5. High-End Designer Bags, Clothes, and Shoes
A Gucci handbag can cost more than the down payment on that vehicle you may wish you hadn’t bought. Same goes for many designer scarves, furs, and dresses.
Many expensive clothes and accessories end up spending nearly their entire existence in storage. That’s because the average person wears only about 20% of the clothes in their closet, according to retail specialists.
Among the top reasons our clothes go unworn? The items no longer seem as unique or important as when first purchased, or we realize it was an impulse buy rather than a smart, practical purchase.
6 – A $5,000 Watch
So you got a big promotion at work. Why not reward yourself with a Rolex? You earned it. Plus, what’s more practical than a classic timepiece? “Don’t do it!”
Experts and psychologists agree, an expensive watch is probably among the dumbest purchases a person can make (if not THE dumbest). These days, most people don’t even wear a watch any more because their phone can tell them the time anyway.
7 – A College Education (No, Really….)
Okay, so most people would say a college degree is a smart investment — but it can certainly be regrettable. A third of millennials say they would have been better off working than going to college, according to a Wells Fargo study. The reason? They’re drowning in debt, and because of it, most cannot buy any Columbia SC houses that are for sale even if they wanted to.
More than half the 1,414 college grads surveyed by Wells Fargo said they afforded their education by taking out hefty student loans that have become the crux of their financial distress. Many said they think they’d have been better off with a less expensive, public education than a much more costly degree from a top-tier school.
If given $10,000, more than half of those surveyed said the first thing they would use the money for is to pay off student loans or credit card debt. In 1970, most would say, “put $10,000 down on a home.”
So there you have it. Our list of the 7 dumbest purchases people make. And buying Columbia SC houses does not make the list.
Columbia SC consumer confidence, led by high hopes for the Columbia SC housing market, has recovered from its doubts in the wake of the government shutdown last fall and is starting the new year on a tear.
Two weeks ago economists at The Conference Board forecasted that for the year as a whole growth will accelerate markedly to 2.9% in 2014 from the subdued 1.9% pace in 2013. The robust gains in household net worth, fueled by the 29% gain in equity prices and 16% rise in median home prices, boosted consumer spending to a robust 4% pace in Q4 2013. The Conference Board set a goal of 1.11 million housing starts this year, up from .92 million in 2013.
"Consumer confidence advanced in January for the second consecutive month," according to Lynn Franco, Director of Economic Indicators at The Conference Board. "Consumers' assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably. Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead."
Housing Professionals Watching Columbia SC Consumer Confidence Closely
Columbia SC housing professionals are watching Columbia SC consumer confidence trends closely as they prepare for the coming spring market. With inventories still low and uncertain interest rates raising questions about buyer demand, decisions buyers and sellers are making now could shape sales and price trends for the coming season—and the whole year to come.
We'll keep you up to date on Columbia SC consumer confidence and housing here at our website as the year progresses. Check out our other news articles and information at the Columbia SC Real Estate News link to your right under Columbia SC Real Estate Categories.
Trying to get a head start on your Christmas shopping?
Every month, there are shopping deals and duds in the stores. In this video, a look at some of the best and worst things to buy in November.
Know of any special deals that you'd like to share with our readers who might also be interested in saving money on things they buy in November? If so, please share them in the comment box. Even though your email address is required to post a comment (to avoid spam bots that like to post on websites) we will NEVER publish your contact information on our site for your own security and protection. So feel free to comment without worrying about that.
If you're in the market for a Columbia SC home, let us be your guide and advocate. Now more than ever, you need to have a broker on your side when looking for a Columbia SC home.
Columbia SC gas prices for regular unleaded is running at about 35 cents below a year ago, but if historical trends hold true, in the stretch between the beginning of Fall and Halloween, there is more room for prices to fall.
Between September 19th and Halloween, the U.S. average gasoline price has fallen by an average of 28 cents per gallon over the past five years. This year, we seem to be leaning closer to the 10-year average, which is 23 cents per gallon.
In one of its regular price updates recently, AAA said the national average price for regular unleaded gasoline is about $3.52 per gallon. That's 35 cents less than the same day a year ago. "The national year-over-year discount continues to increase and sits at its widest mark since April 21st," AAA said.
Despite the year-over-year price relief, September 17th marked just the 1,000th consecutive day with the national average price at the pump above $3.00 per gallon, which is the longest such stretch on record. The current streak began on Dec. 23, 2010.
Columbia SC Gas Prices Lower Than Last Year
Columbia SC gas prices are lower than one year ago, however the size of the year-over-year discount can, and does vary from station to station.
The pre-Halloween drop forecasted would be an added bonus, even though there is no guarantee of sub-$3.00 averages anytime soon. Barring a hurricane or sudden turbulence in the Middle East, it appears that most major U.S. cities will see their total gas prices fall in this 20-to-25 cent range over what's left of the month of October.
We'll continue to keep you up to date on news that affects Columbia SC gas prices and the economy in general here on our website. Check out our other articles on the Columbia SC Economy and Columbia SC Real Estate News, both under the Columbia SC Real Estate Categories to your right.