Sharing Daily Discoveries About Personal Finance And Business Topics

Low Prices Can Make You Spend More

large business and finance

A common advice to help people to save money is to encourage them to shop at places where you can find everyday items for less than what you would normally pay for at a place that is say more convenient travel wise. The funny thing is that a lot of times this can actually make people spend more as the price looks so inexpensive that people adopt a “I guess I needed that anyways” or “That would be so cool to have and doesn’t cost much” type of mentality. It makes sense to shop at bargain type of stores if you are truly getting everything that you would have normally gotten elsewhere except for a lot less and so I guess the main thing that people try to come up with are ways to discourage themselves from buying things in an impulsive way.

I haven’t really developed any kind of a special method for this personally because as mentioned many times I personally see money more as a time exchange type of transaction which makes me spend wisely. However, it can help to buy things with a group of diverse people as just the fact that everyone may have different thoughts and perspectives about things will make you think twice before doing anything and it is not in a forceful way either. I suppose this can be true for a lot of other things as well. For example, over here there are a lot places where every item in the store is under two dollars and some people just go crazy in buying everything as it seems so cheap. It’s interesting as one person would think something looks like it is such a great value and would have probably bought it impulsively if they were alone. But because someone else had more knowledge about those types of items and afterwards just mentioned a small comment about the material, all of a sudden it made him think more about the overall value and decided that there was no rush. I suppose in that sense that can be one a way to help the problem.

I guess the other approach would be to just stay away from stores that have bargain bin type of prices. I personally wouldn’t favor this kind of approach as like most things I think you should be developing your way of thinking when it comes to things like these as oppose to just running away from it. If your whole goal is to save money, in my opinion the thing to keep in mind is that it shouldn’t be just about how much you save now, but rather how much you will have left later as well.

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