Wednesday, October 27, 2010

How to waste your money with good deals or bargains


We all love bargains don’t we? I really like getting items at a heavily discounted price. I’ve noticed that when things are on special there are heaps of people at the shopping malls with their trolleys full of staff.

I can’t help thinking that even though they are picking up discounted items, in the end it at adds up to quite a bit of money.

I love watching these people and the things they buy. Garden arches, different types of toys (some very expensive ones even on special), CDs, DVDs, decorations for the house, fancy shoes and the list goes on.

It doesn’t stop there however, they all stop to get a cup of coffee and a doughnut or whatever they like. Maybe they will put the stuff in their cars and catch a movie. It is an entire day of fun and savings. Oh wait, did I say savings? I am going crazy.

Am I going mad or everyone else is going mad? I remember seeing on the news a few months ago that the total amount of credit card debt in Australia (where I live) is higher than the total amount owed in mortgages. That sounds really strange but facts are facts. The report certainly does not take into consideration people who rent so it is not really comparing apples to apples however it is a good indication.

So when I think about the data from the report and see those trolleys full of stuff, sometimes two full trolleys, I can’t help thinking whether they can afford all of that or not.

Think about it. If you cannot afford to spend $200 in one pair of shoes then you cannot afford to pay the same $200 dollars for a trolley full of stuff. In my view is not about how much stuff you are getting is about being able to afford your purchase.

Something else to consider is whether you need the items you are purchasing. Regardless of your affordability, if you are buying stuff that you don’t need then you being ripped off. If you don’t need new shoes and you only buy them because they are on special then you are wasting your money.

Some people may say that you will save money if you buy the stuff when it is on special. They are not wrong however, I prefer to put my money away, get interest on it and only look for bargains when I need them. There are always specials around.

Do you buy lots of stuff on special and then regret the purchase or end up not using them?

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