You want to know how to stop spending money? Are you tempted by sales and deals?
“50% off all newly released DVD’s”
There’s nothing I want to watch at the moment but if it’s half price so I might as well buy some DVD’s.
How does it happen? It’s one of the most common marketing strategies- providing a sale that seems so good that the customer must jump on the offer right away.
I know that as a student with a part-time job it’s very easy to receive a pay check and feel the need to use it to indulge in something that we truly enjoy. The problem is that many of us don’t know what we really enjoy and as a result we take our fresh new pay checks straight to the mall to go shopping so that we can spend the money we worked so hard for. When I say we do not know what we really enjoy I am referring to the instances where someone goes shopping just for the sake of shopping.
There’s nothing wrong with shopping, everybody does it, the problem lies in not knowing what you are shopping for. If you decide to go to a mall without a clear understanding of what you are going to purchase, then chances are you’ll fall for the sale trap. From all of the examples of marketing strategies the sale trap is probably the most common.
When does this marketing strategy strikes the most?
Of the 101 marketing strategies, the viscous sale trap occurs when you purchase something without any prior thought to making this purchase. The purchase is made simply because it is on sale.
The most common instances of the sale trap occur when you purchase clothing, repair something, subscribe to some magazine, join a gym, or God only knows what else is purchased just because it is on sale. Chances you will not have money set aside for this impulse purchase, usually busting out the trusty credit card for this “once in a lifetime” deal (as most are promoted). Looking at the many different marketing strategies it’s usually the sales trap that cause many young people to fall into debt.
Personal situation with trying to save more money…
Don’t get me wrong I’m not judging in this article. Actually to be honest I almost fell for the sale trap today while I was brainstorming the concept for this article.
I was downtown when some girls (obviously good looking ones dressed in revealing clothing) came up to me with a flyer for 20% at the Guess Store for one day only. I have purchased Guess Jeans before (pre-budget era) and I thought for a split second how could I let this offer pass me by. Then my frugal instincts kicked in, bringing me to the clear realization that I already have a nice pair of Guess Jeans and that 20% off a $160 pair of jeans is not much of a deal.
The point of this story is that anyone at any given time is susceptible for falling for the ever so evil sale trap.
How to stop spending money…
1. Write down your purchases before you leave your home.
Don’t ever walk into a mall to just “look around.” This will never happen and almost all of the time it leads to at least one purchase. Make sure you have a clear list of what you plan on purchasing so you don’t get side tracked or confused looking through many stores unsure of what you truly need.
2. Bring exact amount of money needed.
Obviously you should round up on your purchases so that you do not embarrass yourself by not having enough money. You can also easily find out prices of your purchases by checking online. This also requires that you leave your credit card at home (if possible). By not having any extra money you will not make those unexpected purchases, even if you absolutely want to. Effective marketing strategies will no longer work on you because you will be prepared with a budget.
3. Ignore all sale signs/ pushy sales people.
Whether you have to bring your iPod or pretend you don’t speak English, at all costs avoid sales people. There job is to sell you stuff, period. They don’t talk to you because they want to help you out, they’re paid to sell you stuff.
Don’t read any sales signs, no matter how amazing they seem. Chances are the small fine print usually states the sale only applies to some items, which you won’t figure out until you’re actually inside the store. You must also learn how to ignore internet marketing strategies. Those pop-ups may seem interesting but do you really need that new George Foreman Grill?
That’s how to stop spending money. It’s time for you to have more money in your checking account. If you really do want something, you can easily save up for anything.