This Is the Number One Thing I Do Before a Big Purchase

There's nothing worse than making a big purchase and finding out that you wasted the hard-earned money in your checking account when it doesn't live up to the hype.

Unfortunately, it can sometimes be hard to avoid making a mistake and buying a product that turns out to not be nearly as great as you'd hoped it would be.That's the case, in part, because you can't necessarily trust what people are saying about the item. One analysis found that as many as 42% of reviews on Amazon were fake, while another found 30% of all online reviews across all retailers are actually fraudulent, and people typically can't tell the difference.

To reduce the chances that I'll experience a problem with the costly products I put on my credit cards, there's one simple thing I do before I make any large purchases. Here's what it is.

This trick has helped me to be a more informed buyer

When I am going to spend my money on something expensive, the first thing I do is head over to Reddit.

Most people probably know what Reddit is, but if you don't, it's a network of communities or "subreddits" where people come together to talk about things they are excited about.

There are subreddits for just about everything, including most of the different kinds of products you may need to purchase like mattresses (r/mattress) and various electronic devices (like r/4ktv). And there are subreddits for smart shoppers like r/BuyItForLife, where people are dedicated to finding durable products that will last.

These sub-forums at Reddit are not full of paid reviews, or even reviews from blogs or websites where you don't necessarily know if the writers are being paid to promote specific products. They are groups of regular people who have come together to talk about a subject they are excited about and to share their real experiences.

When I read about a particular product on Reddit, I can find out what it's really like from those who have used it and who have no agenda. I can also ask for advice from knowledgeable people who have done their research to figure out what brands are worth looking at.

It takes just a few minutes to do a search of Reddit before buying, but it has saved me numerous times from making mistakes like buying a name-brand mattress with great reviews but that actual users had terrible experiences with. And best of all, it costs nothing to do this consumer research and benefit from the hard work of many people who came before you and took a deep dive into the products they were buying.

Be sure to do your homework before making big purchases

As a consumer, you owe it to yourself to do the work before buying something.

Check out Reddit for real, unbiased consumer reviews. And, whatever you end up buying, make sure you use a credit card with good purchase protections, like an extension of manufacturer warranties. This way, if something you buy does turn out to be a dud, your card may be there to help you replace it without causing you to lose your investment and negatively impact your personal finances.