Monday, March 5, 2012

How 'Saving More' Can Actually Cost You More!

Okay, so I've been blogging about savings and deals where you get can either discounted or free items at a better price than normal. Now, it's time to focus on those times when you shouldn't seek out those deals.

Good Morning America had a segment today about when it's actually not worth it to 'buy more, save more'.

Here's a list of the top 10 ways sales get you to spend more than you wanted:

  1. Driving for a bargain - you end up spending more in gas money than the savings you would get
  2. Avoiding routine car maintenance - $300 repair now is better than $1000 later!
  3. Checkups & dental visits – make it a routine or else it could cost you a root canal
  4. Buying in bulk - oftentimes we don't need all that extra cheese...we probably throw most of it away anyway
  5. Buy one get one free (BOGO) deals - You pay more when you really only need one of something.
  6. Deal for the sake of a deal - "Let's buy that Groupon for basket weaving!" Really? When are you going to do that?!
  7. Doing your own taxes - It's better to let the pro's be pro's...Pay the $200 and get $2000 in return!
  8. Store credit cards - Cancel those ASAP! They're not worth paying the annual fees, interest, etc.
  9. Cheap vs. quality – Buying low quality items over and over is less effective than paying a bit more for something that's better in quality
  10. Skipping the parking meter - "You run to get a coffee and think I'll only be here for 2 minutes!" and when you get back, there's that $50 ticket...Super.

Alright savings are generally good, but sometimes not worth the extra effort. So watch out, be vigilant, and see what makes the most sense (and cents!) for you.

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