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| Credit Answers > Debt-Management-Articles-2010 > Bargain Hunting |
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Do you consider yourself to be a bargain hunter? Do you coordinate coupons from the Sunday paper with the weekly specials at grocery stores? Do you refuse to pay regular retail
for a product?
In most cases, we would congratulate you for exhibiting such cost-conscious behavior. However, your quest to constantly save money can lead to a spending problem, also known as fanatical shopping. This
spending personality tends to devote huge amounts of time before they spend any amount of money. Here are some thoughts that might enter the mind of a fanatical shopper:
"I Need To Stock Up!"
Let's say that a multi-pack of paper towels is on sale at your local grocery store and you have a coupon that you can use on "Double Coupon Day." After all of these discounts, you can buy this product for a
fantastic price. For this reason, you decide to ask all of your friends and relatives for their paper towel coupon from the Sunday paper. After receiving six coupons, you calculate the costs of six packages.
Although it is a great deal per piece, the price significantly increases when you multiply the cost by six.
In this situation, make sure that six packages will not break your budget. Granted, you are probably saving money. But ask yourself if you really need a large amount of a particular item. Although a product
such as paper towels will never spoil or rot, be sure that you will be able to use it in a reasonable amount of time. If not, consider putting that extra money towards your reserve account instead of
excessively stocking up on products.
"If I Can Save $1.00, I Do Not Mind Driving To A Store Across Town."
Some fanatical shoppers will also go to great lengths to save any small amount of money. If laundry detergent is 50¢ less at store that is 10 miles from your home, it may not be worth the trip, especially
with rising fuel prices.
As you strive toward your debt settlement, saving money and changing your financial habits is definitely your ultimate goal. In your mission to cut costs, take all expenses into consideration. A product may be
less money at another store. However, in the end, will you waste gas or sacrifice time with your family?
You may consider traveling a long distance to make a major purchase such as a vehicle or large appliance. Saving hundreds or thousands of dollars on these large ticket items may be beneficial to you.
"I MUST Take Advantage Of This Sale!"
The word "sale" may compel a fanatical shopper to purchase items that they do not necessarily need. They want to buy these things because they may feel that each sale is a deal of a lifetime.
First and foremost, ask yourself if these sale items are things that you normally use. Are you buying them just because they are on sale? If so, you are not really saving because you would not have bought it
at all if it was regular price.
Secondly, can you afford to take advantage of the sale? Your child's favorite cereal is on sale at the local grocery store. It is a great price and you would like to stock up. However, your child still
has three boxes left in the pantry and money is scarce this week. In this case, you may want to bypass this sale and save your money. Remember that there will always be sales. Most grocery and department
stores have sales on a weekly basis. If you are not able to take advantage of this sale, another one will most likely occur in the near future.
A fanatical shopper is not necessarily a character flaw. In fact, if you fall into this category, we commend you because you have already mastered the art of saving money and searching for good deals. This
skill will definitely help you as you strive to reach your financial savings goals. You just need to find a healthy balance and consider all aspects in your quest to save money.
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