It’s not my fault. That’s impossible. How often have you thought that when looking at a zero bank balance or a huge credit card bill? Believe me, I hear you. Sometimes the money disappears without us even thinking about it. Here are 6 traps that could bring you undone, inspired by Yahoo Personal Finance.
I’d never heard the term before, but apparently it applies to the amazing deal that gets you in the door where- surprise, surprise- you spend money, not only on the deal but on a couple of other items in the store. Or there are none left, so you buy a more expensive version. Like credit card companies, retailers are no philanthropic society- they are there to make money. Understanding that will help you resist their evil lures.
Amazed that they’ve slashed 70% off the stock? Think twice before handing over your hard-earned dollars, as the store could just as easily have inflated the recommended retail price to make it look as if you’re saving huge amounts of money. Do a google and check how much an item is worth. It also will give you bargaining power, if you can prove you can get the item cheaper somewhere else.
Jeans shopping is the ultimate proof of this particular pudding. The whole process is so miserable that, by the end of it, I have to buy a pair of jeans, even if I hate them because the thought of having to front up and do it all over again is just too much. I need to justify my suffering through purchase. Don’t fall for it. Make your shopping experience comfortable. Have a coffee and think it through before you buy anything. Come back next week. It will all still be there, and you’ll save yourself spending money on something you never wear.
Stores aim to place expensive things in your line of sight. Trinkets at the cash register, expensive items at eye level. Sales racks are always at the back to the store and tricky to get through. Win this particular war by starting from the back and working your way forward. That way you won’t have visual exhaustion at the sales rack, and can be more clear-sighted about the more expensive items once the giddy first rush has passed. You’ll be more likely to pick something up cheaply, and avoid the temptation of a well-planned store layout.
A report found that consumers that touch items are more likely to buy them than those that don’t. Try and leave the store after you’ve played around on the latest phone. If you really need it, you’ll go back. Or if you’re being super strict, just don’t touch anything. Or shop online, where you can’t even be tempted to reach out and stroke the cashmere.
When I get asked if I would like a Wagon Wheel at the petrol station, it drives me wild. I’ve just spent $70 on a tank of petrol, why on earth would I want to spend another $5 on a Wagon Wheel? Yet extras work. Warranties on your electrical items, a seemingly-reduced item, a buy one get one half price kind of deal. Always ignore, they’re just extra grist for the retailer grind.