Patience has never been one of my strengths.  I can think back all the way back when I was a kid and even the long road trips for family vacations irritated me.  I’ve always been someone who wants things to get done quickly with very little waiting around.  I could excuse myself by saying that I need that type of mentality because I work in the construction industry where schedule is EVERYTHING.

However, that would just be a poor excuse.  I’m a sinner like everyone else.  I mess up and let my lack of patience get the better of me.  It’s never a good ending when you are impatient. Thankfully God has stuck by me and helped me grow in this area.  Without the grace of God, I would be a lot worse off!

I was thinking about this article and how I would relate patience back to personal finance.  I even thought about writing something that made me look good.  But, I’ve decided to do something else. I’m going to share with you a story of how my lack of patience slapped me in the face and lost money.

It starts with a “want.”  This want was a desire to buy a luxury desk chair.  With the increase of hours managing this website, I thought investing in a new desk chair would make sense.  This is a great premise but it goes downhill from here…

The beginnings

I go to a small church just north of downtown San Diego.  Near my church there is an  industrial  district with outlet stores.  I’ve always seen signs advertising discounted prices and “one day only” sales.  Many of these stores are  furniture  outlets and others are carpet liquidators. When I started thinking about my desk chair purchase, I began to notice a certain office chair outlet store.  Imagine an entire store dedicated to office chairs!  It really got me excited.

Overwhelmed

One weekend I decided to visit this office chair store.  I had looked them up online and found out that they had a massive selection of office chairs.  So, why not, right?  The moment I walked in I was attacked by two salesmen.  No one was in the store so I think they were desperate for some commission.  They toured me around and asked me what I was looking for.  I told them I didn’t know and I perused the store until I stumbled onto the most comfortable chair of my life.  You can check out the chair here.  Not only was it a cool looking chair but it was super comfortable.

Price tags lie

The next thing I noticed was the price.  It was retail for $400 with a discount down to $200.  I thought it was such a steal!  Since I was at an outlet store, this had to be the lowest price anywhere!  I was confident in my purchase and happy with the price point.

I got home and cut the tags off.  I was excited to sit in my new chair!  I was curious about the company that made the chair and did a quick Google search.  The first thing that popped up was a link to Amazon for $150.  My stomach sunk.  I had just been had.

No excuses

At first, I felt anger towards the outlet store.  But then common sense took over and realized what had just happened.  I broke my own policy when buying expensive products.  Always do your research before you buy something!  I willingly  purchased  the chair at an outlet store at the more expensive price.  No excuses, I made a mistake.  Times like these are good reminders about taking your time when buying products.  Don’t be like me and let lack of patience slap you around.

Lessons learned?

So, what can you take away from this experience?  Well, I came up with a short list.  Use my poor choice to your advantage and don’t make the same mistake I made!

-Research prices before you go out to stores.  Often times, online retailers will have the cheaper price.

-Don’t buy a product just because it’s “on sale.”  It might not be that good of a price.

-Have patience when it comes to buying expensive items, it will pay off in the end.

-Walk away and take some time before buying something.

I hope my honesty helps you in some way.  Take this experience and don’t make the same mistake! Man, the things I could have done with $50.  Here in San Diego that’s a whole tank of gas!