How NOT To Save Money
In any economy, shoppers are looking for a good deal. However, we find ourselves in a time when more and more of us are looking for and finding ways to save money. But, in the attempt to save money, there are some mistakes that it’s important to avoid.
Rebates. Sometimes what make s a deal a good one is Mail-In Rebate. I recently bought a Brita Filter for $5 and got a $10 rebate from the company. Very good deal. I filled out the rebate form almost immediately because I know that if it sat too long, it could have gotten misplaced or, more likely, forgotten. If you have a Rebate deal, get that form filled out and mailed off within 24 hours of the purchase or set a specific time to get it done. If I’d misplaced the receipt or forgotten to fill out the form, the potentially great deal is no deal at all.
Letting “Rewards” Expire. If you shop at CVS, Walgreens or Rite Aid (to name a few), then you are familiar with the rewards programs at each of those stores. I am a Walgreens shopper. And, I have often taken advantage of deals with Register Rewards. However, when I first started I didn’t realize that the expiration date on the Register Rewards was only two weeks from the date of purchase. So, the “deal” I got was no deal at all because the Register Rewards I received expired before I got to use it.
Buying What You Don’t Use. When I clip coupons and I come across something I would not normally buy, I ask myself, “Would I/we use it if I could get it for free?” That becomes the standard on items that we wouldn’t normally use or eat. I often have to remind myself of that when I find out I could get something like a pack of coffee drinks (which we don’t ever use) for only $1. That’s a $1 I could use on something we do need and use. So, if I do make a purchase like that, it’s not only NOT a deal but it’s money that should be spent on what we need and use that is wasted. Again, if you wouldn’t buy it (or a substitute for it) without a coupon, then you may have just wasted–and not saved–your money.
I wish I could say that I know all these “what not to do’s” simply because I read them in a book. Sadly, I know first hand that these can and do happen. As we attempt to stretch our dollars, let’s be sure that we don’t waste them!
What are other things that should be on this “what NOT to do” list?
spread the word!
Erika @ My Road to Savings January 18, 2012
I have definitely been guilty of buying what I wouldn’t use. So much went to waste and I did donate a lot (which is a good thing), but sometimes I would buy things open them up and realize we don’t like them so in the trash they went. That’s why this year I decided to put down the coupons and go back to meal planning. No more waste and I am saving a ton more money. I do use coupons occasionally, but I find it better to plan my meals ahead and then look for the coupons in a coupon database. Instead of planning around coupons and deals. I am just one of those people who spend too much on those “deals”. That’s why each person needs to figure out what approach works best for them and their needs. Thanks for the great post