Common Mistakes - Sales

Do you love sales? Are you addicted to buying bargains? Do you buy, buy, buy and then work out how much you've 'saved'?

Isn't it interesting that $200 'saved' feels good until you realise you didn't really want any of the goods purchased - ummm, saved nothing and spent way too much!

Remember that sales are just a marketing ploy. Companies are smart at enticing consumers to buy their products. If you really need something then it's the best time to shop for bargains galore, but if you're just buying because it's on sale have you really saved or has the shop conned you out of money you wouldn't have otherwise spent?

Be prepared to be tempted and have the will-power to stay on the mission for only the goods you require. Don't get sucked into buying more than you need - remember that's money from your pocket into someone else's. If you can't resist the temptation avoid sales like the plague.

Stop receiving junk mail - help yourself and the environment!

Advertisers try to encourage you with certain specials in an attempt to have you spend, spend, spend. By stopping pamphlets being delivered to your letterbox, you are elimating one source of temptation and you are also helping the environment - less paper to be thrown away (and also how often do you see these pamphlets blowing around the streets, not a nice sight for the neighbourhood). When you want something most catalogues are available online (e.g. Lasoo.com.au) and you can then look with a specific item in mind.

If you need something these days, there are constantly sales around so yes - this is the time to shop. Don't fall into the trap of buying something because it's on sale - you haven't actually saved anything if you've spent money on something you didn't require.

If you are paying on credit, be careful as you may not actually be saving. Avoid sales/shopping if you can't control your spending. When shopping always think of what you want or require because the shops have techniques of enticing you to spend - remember they need to make money from people buying (living a nice lifestyle thanks to you!). If you see something you like, go home and think about it - if you still really want it, go back the next day and buy it. This is a great habit to get into as often you can change your mind and don't end up with impulse purchases. Get out of the habit of going shopping for fun, it's not a great hobby.

Always make a list in your head or on paper of what you actually need to buy, stick to a budget on all purchases and learn to window shop - look but don't buy, you get to enjoy looking and it won't cost you a cent!

There is nothing wrong with spending but not to the extreme, buy with thought. Keep track of your spending, often an eye-opener to how much money you really are spending as all those small amounts quickly add up.

Summary

Don't fall into the sales trap Keep track of your spending