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Think Saving Money Through
Discounts are great and practically everyone is looking for them and we then say we saved some money. But each coin has two sides. Stores don’t just give away goods for less money, and owners know very well that discounts often make us spend on things we don’t really want or need. However, given that discount, we often leave the store spending way more than we wanted to buying things we never use and often throw away anyway.
Saving money is not as simple as it seems and we need to think a lot about it and not fall into the traps that sellers like to lay. So how to save some money with or without discounts? Take a look at some tips on how to relieve the budget, save some extra money, and how not to spend extra money on things we do not need.
Discounts Are Great, but Be Careful About Impulsive Shopping for Useless Stuff
Discounts are great, and when we really need discounted bread, we actually saved money, because the loaf was cheaper. However, beware of sales on products that we really do not need. Do not be tempted and really think about whether it is a discount or extra money spent. How many times did you buy clothes that you have never worn? How many times did you buy something in the discount that you didn’t like?
There is nothing wrong with making yourself happy and buy things you don’t actually need, but as far as saving money is concerned, you need to think and not buy useless stuff.
Are Discounts and Sales Really Worth It to Save Money?
As far as discounts are concerned, very often make one very basic mistake. We often deal with the discount as a percentage rather than the absolute amount we save. A 50% discount on a bag of sugar looks tempting, but it is a discount of around 30 cents, which is not much. On the other hand, a 10% discount on a T-shirt for 10 bucks means saving 1 buck, which is more than 3x as much. How about a 2% discount on a car? It will save us hundreds and maybe thousands of dollars depending on the car. We should deal with discounts not in percentage, but on how much money we really save.
The second mistake is that we really make use of the discounts, but at some other cost like going further by car. Sometimes it may pay off, sometimes it is only a short-term saving for a given purchase, but we spend more in the long term when we have to refuel the car.
It is these long-term higher spendings that are very treacherous, because we do not have to associate it with the fact that we went here and there a few miles further by car because of a small discount on a bag of sugar. In the long term, we actually spend more money going after discounts that are just not worth it.
Some Products Are Worth Buying in Bulk
Yes, impulsive useless shopping is not a good idea, but making a really big purchase of things that are discounted and that we really need is a very good way to saving money. Of course, it is not possible to buy 10 pounds of cheese that will expire, but we are mainly talking about products that will last and will not expire pretty much ever. Do you have space for a pile of toilet paper or other drugstore products? Wait for a bargain discount and buy the necessary items in bulk. This is the opposite of what you did in the previous paragraph – although you spend a lot in the short term on a given purchase, but in the long run you really save.
Saving money is really about the long run. There is no point in saving uselessly to make all the small purchases cheap if we don’t save anything at the end of the month. It is better to make advantageous, even if separately expensive purchases, and have more money at the end of the month.
Vouchers, Discounts and Loyalty Cards? They May Be a Great Way to Save Money
Whether you use a service on a regular basis or shop at a particular store, different loyalty programs, discount cards or vouchers are worthwhile, especially when they are free to set up. At worst, you simply won’t use the card. Do you like going to the cinema? It makes no sense not to arrange a discount card and not have every ticket cheaper. If you are traveling by train, get any possible discount.
Likewise, if you are a student, take advantage of student discounts. If you are a senior, take advantage of senior discounts etc..
Of course, it is important to be careful not to buy impulsively just because there is a discount. Different discount portals with vouchers are great when you are really looking for something. They aren’t that great when they “force” you to buy something that you don’t even want and don’t make use of.
Ask for a Higher Salary
This isn’t exactly a way to save, but it’s probably the most important way to have more money. Are you doing a good job? Ask for a higher salary. Not aggressively and not in a way that you threaten to leave (if you don’t really plan it if things go sour), but put forward reasonable arguments as to why you deserve a higher salary and how it will be reflected in your work.
After you do get a better salary, save as much money as possible. Buying a better car right now, going on a more expensive vacation and generally spending more will only get you in the same rat race, with little money left at the end of the month.
Pay off Your Debts and Get Rid of These Payments
If you have any debts, it should be your priority to repay them – it’s actually the most expensive thing you pay for and there are no advantages in being in debt. If you are paid better, don’t go celebrating, but pay off what you have to pay. You can celebrate after the debts have been paid off.
It is clear that debts arose from financial burden, but their repayment can create even more difficult situations. If you do not have to, do not burden yourself with debt and especially not to over some short-term luxury. Taking a debt for an expensive vacation, which you may be paying for several years, is just not worth it.