I found a great article about 5 simple ways that many people waste money while they are actually trying to save some money! Its funny that while people try so hard to save some money…they may be losing valuable money in the long run.
1.) The article explains that you need to know the difference between buying for “value” and just buying “cheap” items. There are certain cheap items that you can buy. Many generic brands such as CVS or Wal-Mart are okay for things such as toiletries or candy…things like that. But when you go big (washing machines, stoves, electronics) you should buy brand names. The reason they have these well-developed brand names is because they are trusted and many of them have developed their quality. Buying cheap products in these categories will have you spending more money in the long-run when something breaks down or fails on you.
2.) Impulse buying = bad bad bad! Seriously, we all think its a good thing when there are sales…but many times (with clothes for instance) you won’t even end up wearing the items you buy and eventually they stay in the back of your closet with the tags still on. I am a huge victim of this! I think I’m getting such a good deal…but eventually I would have been better getting the one thing I REALLY wanted, rather than 3 things that were on sale.
3.) Gas…seriously, don’t drive to the cheapest station you know unless it is on your way to where you are headed. It costs more to head out of your way to save a few cents than to just got to the next gas station. Another thing that coincides with this is finding parking spaces…unless it is bitterly cold or pouring rain, just park where you can. You waste a ton of gas just driving around the parking ot aimlessly hoping that someone in the front row will end up leaving!
4.) Going out of your way to find sales or discount stores…once again, unless stores like outlets and Costco are on your way somewhere, make sure you are actually not wasting the money you are saving in gas and time…otherwise there was really no point in you going to these places in the first place!
5.) Don’t buy in bulk just because it is there. Costco sells a lot of food in bulk…but if there is just one of you eating it, are you sure that you are going to finish it all before it goes stale…or better, before you get sick of it? Because otherwise you will just end up throwing i tall away…wasting more money than I’m sure you got to save.
I just thought this article put things into perspective. Many times you don’t realize what you are doing until the consequences come about. This may help some of you to avoid many of these simple mistakes to make! Here is the full article that you guys can check out for yourselves: 5 Ways You Waste Money While Trying to Save It
