It's always important to spend money wisely, but it's even more important when money is tight. As consumers we're faced with buying decisions on a daily basis. We buy everything from yogurt to real estate to financial products. Some purchases involve little money and little importance. Others represent a significant expenditure and can tie us to the company making the product or service for many years to come. If we had unlimited time, we would do our homework on more of our purchases and make better decisions. Here are a few tools to help make your research easier.
Consumer Reports
Consumer Reports
Consumers Union tests all kinds of products, from cookies to washing machines, from banking services to paint. They publish a monthly magazine and a website. If you subscribe to the magazine, you get access to their information online. I recommend getting the magazine and perusing it each month. This is great for the low ticket items. You would never research this kind of item before making a decision, but when you go to the grocery store, you might remember what peanut butter got high marks from Consumer Reports. The website is ideal when it's time to research a major purchase decision. If you need a new refrigerator or credit card, you can find the latest information, even if it was published before your subscription began.
JD Power & Associates
This is a marketing firm that collects consumer feedback on a variety of high ticket items, from cars to cell phone service. It's important to note that their information comes from large numbers of consumers who have used these products and services. Their staff doesn't actually test products like Consumer Reports does. JD Power and Associates is so highly regarded that when they give a product their quality award, sales of that product often rise noticeably.
Better Business Bureau
The BBB has been around for many years. Now they have a website and you can get the information you want about a business or charity from your computer. Remember that they don't test products or solicit feedback. They simply facilitate consumer comments. They rarely make a judgment about whether a complaint has merit. Instead they forward the complaint to the company involved and give them the opportunity to address it. Remember that since the consumers who participate are self-selected, they're likely to be complaints rather than complements. And remember also that every company will have some unhappy customers. One of the marks of a truly customer-service oriented company is that they address and resolve their customers' complaints.
In this internet age where information can be shared at almost no cost, research is easier than it's ever been. You still need to take the available information and apply it to your own needs to come up with the wisest choices. It takes some time, but it's worth it. Especially for major decisions.
Be an Informed Consumer Consumer Reports