You're Most Likely To Regret Splurging on These 5 Things
Whether you've built up your savings or received a cash windfall, it might feel like the right time to splurge. Sometimes that purchase delivers long-term satisfaction. Other times, however, it turns into something you wish you hadn't bought.
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Here are five splurges that often lead to regret -- especially once the excitement wears off.
1. Swimming Pool
Having a private swimming pool just steps away seems like a dream come true. However, a pool takes a lot of work and is expensive to maintain. You'll need to factor in costs for chemicals, cleaning tools, increased electricity and ongoing maintenance. Repairs can also be expensive, especially if leaks or filtration issues arise.
2. Fancy Espresso Machine
A high-end espresso machine with its polished chrome and dials can be hard to resist for coffee lovers. But the reality often doesn't match the fantasy. First, it takes skills to create the kind of espresso that rivals your favorite coffee shop's. Additionally, between the weekly deep cleaning, monthly descaling, periodic maintenance and inconsistent results, many buyers end up going back to their old coffee machine or their local coffee shop anyway.
3. Fixer-Upper Vehicle
Seeing your dream fixer-upper vehicle for a reasonable price can make you want to take the leap and buy it. However, once you get it home, you may realize that the idea of "fixing it up" is far removed from what needs to be done to make it functional. This is especially true if major issues occur after purchase -- like a transmission going out -- leaving you with unexpected repair costs.
4. Dyson Airwrap
This popular styling tool costs $600, but owners have plenty of complaints. One Reddit user said it's nothing more than a very expensive hair dryer, and the curls fall flat within minutes. Others have complained it doesn't work well for people with thick hair.
5. 3D Printer
A 3D printer sounds like a smart buy. Imagine being able to print tools, parts or gifts on a whim. Of course, getting consistent results takes time and technical know-how. Also, filament costs, trial and error and frequent calibration can make the learning curve steeper than most people expect.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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