A savings guide for shopaholics
If you have ever slept on a sale, dropped a deal or missed out on a markdown, you have probably committed one of the seven deadly sins of savings.
Use this guide to save money and maybe… your soul!
Savings Sin #1: Pride/Vanity
What is it? The foolish belief that you are the best at finding deals.
How to avoid it: You’re not the only one how knows how to save. Always listen to savings advice and tips and you’ll save even more.
This savings sin affects shoppers who have a lot of knowledge about specific product categories like fashion or technology. You might think you know where to find the best deals on clothing from J. Jill, for example, because you shop there often. But without checking around first, you can’t be sure.
Savings Sin #2: Greed/Avarice
What is it? The insatiable desire for all coupons.
How to avoid it: You can’t use every coupon you find. Share extras with friends and they’ll share with you. It’s good shopping karma.
Many coupons have restrictions on them. Some are exclusively for new customers, like those at Peapod, for example. Others have minimum orders, are valid only for specific products or are valid for a limited time only. That means you’ll come across coupons you can’t use. Instead of tossing them in the trash, give them to friends. They’ll appreciate it and share deals with you too.
Savings Sin #3: Lust
What is it? The overwhelming desire for sexy new products.
How to avoid it: Many products cost more when they first come out. Restrain yourself. Wait at least six months before buying.
When the iPhone 7 finally comes out, don’t just run off to get it at Best Buy immediately. Wait for the reviews to come out and find out if it’s the right phone for you. It might turn out that you don’t like the features or that it is too similar to the iPhone 6 which will be considerably cheaper.
Savings Sin #4: Anger/Wrath
What is it? Getting furious when you miss a deal or a product fails you.
How to avoid it: Choose love over anger. When a deal or product doesn’t go your way, or you find an item on sale after buying, be nice. You’ll be more likely to get that discount or refund.
Naturally, some retailers are better than others in terms of refunds and price-matching programs. Nordstrom is well-known for its extremely flexible return policy. They have even been known to take returns even without a receipt. However, it’s always better to keep your anger under control. As they say, “you can catch more flies with honey than with vinegar.”
Savings Sin #5: Gluttony
What is it? The excessive desire to buy more products than you need.
How to avoid it: Buying more than you need wastes money and creates clutter. Buy mostly what you need, and you’ll avoid bloated credit card bills and crowded closet space.
It’s always better to hold back on impulse buys, which are by definition unnecessary or unplanned purchases. According to a 2016 survey, more than 50 percent of respondents claimed to spend more than $100 on impulse buys. Approximately 20 percent of the survey’s 1,000 random respondents claimed to have spent more than $1,000. That’s a lot of money for something that you don’t need.
Savings Sin #6: Envy
What is it? The desire for products that others have.
How to avoid it: Wanting what others have can lead to bad buying decisions. Believe in yourself and shop for what you like, not for what others like.
Let’s face it, those stunning six-inch heels that your cousin bought at 6PM might look good on her, but that doesn’t mean they’re right for you. Avoid shopping regrets and stick to your own style.
Savings Sin #7: Sloth
What is it? Extreme laziness and avoidance of the work that goes into saving money.
How to avoid it: Finding deals and coupons can be hard work. Research and due diligence is a must. Luckily, Couponbox.com makes it easy to find the best coupons every day.