Costly Mistakes Shoppers Make (And How To Avoid Them)

Sep 24, 2024 Personal Finances

Shopping – either for needs or wants – is likely something you do frequently. Be aware of these six costly errors shoppers make and how to avoid them.

Whether you’re buying clothes, groceries, or items just for fun, shopping is likely something you do frequently. You may shop online or visit stores in person, but in the end, you’ll exchange your money for the items you want and need.

Making mistakes as you shop is common and can literally cost you. Whether it’s spending too much on the things you don’t need or paying too much for necessities, the numbers can add up. Here are six costly errors shoppers make and how you can avoid them.

Six Costly Mistakes  

Buying Just Because It’s On Sale  

Stores love those flashy 70% and 80% off signs, and so do shoppers. And while those deep discounts can be compelling, buying just because an item is on sale is a big mistake. If you need it and it’s on sale, great; if not, leave it where it is.

Overspending To Rack Up Credit Card Rewards

Buying everyday purchases with credit cards is a great way to rack up rewards, but spending more than your budget allows to gain additional points won’t do you any good. The credit card companies want you to overspend, and it’s up to you to disappoint them.

Failing To Track Your Spending

From everyday groceries to dinners out to the occasional splurges on nice clothes, knowing how much you’re spending is essential. Keep track of your spending with an online tool or a traditional spreadsheet.

Female sits on floor on laptop with notebooks open next to her
Life Guidance for:

Budgeting

Ready to take control of your finances? See what steps to follow to develop a spending and saving plan and follow through on it.

Falling For The Checkout Line Trap

Whether you’re shopping for groceries, clothes, or something else, stores know you’ll spend time in the checkout line and will include additional items for you to add to your cart. Falling for the checkout line trap could be costly, so keep your hands and eyes on your cart.

Not Checking Prices Online

One of the great things about shopping online is how easy it is to compare prices. Spending a little time checking prices online before buying in store is a great way to spend less.

Not Keeping Your Receipts

Hopefully, every item you purchase will work flawlessly and you’ll never have to initiate a return. But if you need to return a defective item or something that didn’t work out, having your receipts handy will make the process easier. Not keeping your receipts could be a big mistake, so keep them somewhere safe in case you need them.

Summary  

Shopping and spending money doesn’t have to be daunting. Whether it’s the grocery store, online, the shopping mall, or somewhere else, avoiding the mistakes listed above can help to make your shopping a more enjoyable experience.

Copyright BALANCE

 

A woman holding an A+FCU debt card.
Spending With Perks

Cash-Back Checking

Get the debit card that earns you unlimited cash back. Enjoy monthly rewards with your free Cash-Back Checking.

Related Articles

Banking on each other.
Building stronger communities.®