Wednesday, June 30, 2010

Stupid things people do in the hope of saving money

In this economy, everyone is looking for ways to save money. Unfortunately, some ways to save are not always the wisest.’s Sarah Gilbert shares 9 not-so-smart things people do trying to save a buck. Here are a few of my favorites:

Membership – paying a fee for the privilege of saving money rarely works in your favor. More often than not, we end up spending more “to get our money’s worth” when all we are doing is buying unnecessary things.

Free Shipping – When you shop online, many retailers give you free shipping if you spend more than $50. So, what do we do? We find something we want to buy, and then go looking for MORE things to buy just to avoid shipping costs. Wouldn’t it make sense to just buy the product at your local store the next time you’re out and avoid the shipping altogether?

Buy One Get One Free – Oh, we do love to get something for free. But this is the oldest retail trick in the book. You take an item that isn’t selling – even in quantities of one – and make it a Buy One Get One Free deal. So, instead of having one item you probably would never buy, you have two of them.

I know we’ve all been guilty of these missteps, but let this article remind you that the real way to save money is simply to stop spending it.
Find more financial missteps here.

Blog Archive