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Money Blunders #1- Bargain Shopping

Rating: 18 votes, 4.61 average.

Lately I've been reading lots of posts and frustrations of people that are doing everything they can to get out of debt (or at least prevent themselves from getting in any deeper) and the one thing I often see these posts have in common is Bargain Shopping.

Tell me, does this scenario sound a bit familiar to you... You run into walmart because you ran out of Milk/bread or any other basic necessity and as you're running to the back of the store to grab a gallon, you pass by a rack of jeans on sale for $8-10 a pair.

You think to yourself, "WHOA, I can't afford NOT to buy these, they're practically giving them away, they're only $10!".

So you add that $10 to the cart. A little later in the day, you swing into Starbucks for a mocha frappuccino, there's another $4.
You've just bargained shopped your way deeper into debt.

Do you know how easy it is to lose $5,000 ? It takes just $13.69 per day. So while these little purchases may seem like great deals or big bargains, it can be a pitfall for your budget.

I challenge you to keep a small envelope in your purse or above the visor in your car. Anytime you spend ANY money, slip the receipt into that envelope. At the end of 1 month, go through and add up all of the unnecessary items, or "Bargain" items, convenience items such as that frappuccino that you had to have on your way home.

It may be a Real Eye Opener!

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Comments

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  1. jrnalo's Avatar
    This is a really great recommendation. Thanks
  2. wilbe95's Avatar
    I think I will try that. I can never get out of Wal-Mart with just the items on the list. Thanks.
  3. Elliejj's Avatar
    that makes a lot of sense and explains where all my money goes!
  4. semmel88's Avatar
    wow , time to brown bag and not spend 5 dollars on lunch at my work!
  5. Sharon's Avatar
    I like this idea and I'm going to do it..............
  6. frugalsinglemom's Avatar
    Great idea! I was trying to keep a spending journal, but lost the oomph at day 5. This is easier to do.
    Thanks!
  7. bflegg's Avatar
    That is unbelievable....I would never have imagined that little bit of money would add up to so much. MY dd (homeschooling mom of 3) that she needed a way to earn some extra cash...she's already making $5000.00 a yr. to stay home with her kids...
  8. FruGal's Avatar
    I'm glad I'm not the only one who thinks this way. My sisters-in-law never pass up a "bargain" and both are so deep in debt!
  9. cedrica3500@yahoo.com's Avatar
    This definately makes sense! When charging things I spend more than I do if I was paying cash!!
  10. danghsia's Avatar
    yup that what most people do

    Extra spending
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