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Rating: 17 votes, 4.59 average.

Money Blunders #1- Bargain Shopping

Posted 07-24-2008 at 06:55 AM by Liss

Lately I've been reading lots of posts and frustrations of people that are doing everything they can to get out of debt (or at least prevent themselves from getting in any deeper) and the one thing I often see these posts have in common is Bargain Shopping.

Tell me, does this scenario sound a bit familiar to you... You run into walmart because you ran out of Milk/bread or any other basic necessity and as you're running to the back of the store to grab a gallon, you pass by a rack of jeans on sale for $8-10 a pair.

You think to yourself, "WHOA, I can't afford NOT to buy these, they're practically giving them away, they're only $10!".

So you add that $10 to the cart. A little later in the day, you swing into Starbucks for a mocha frappuccino, there's another $4.
You've just bargained shopped your way deeper into debt.

Do you know how easy it is to lose $5,000 ? It takes just $13.69 per day. So while these little purchases may seem like great deals or big bargains, it can be a pitfall for your budget.

I challenge you to keep a small envelope in your purse or above the visor in your car. Anytime you spend ANY money, slip the receipt into that envelope. At the end of 1 month, go through and add up all of the unnecessary items, or "Bargain" items, convenience items such as that frappuccino that you had to have on your way home.

It may be a Real Eye Opener!
Total Comments 8

Comments

Old
This is a really great recommendation. Thanks
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Posted 08-01-2008 at 10:57 PM by jrnalo jrnalo is offline
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wilbe95's Avatar
I think I will try that. I can never get out of Wal-Mart with just the items on the list. Thanks.
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Posted 08-13-2008 at 11:24 AM by wilbe95 wilbe95 is online now
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Elliejj's Avatar
that makes a lot of sense and explains where all my money goes!
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Posted 09-09-2008 at 03:43 AM by Elliejj Elliejj is offline
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semmel88's Avatar
wow , time to brown bag and not spend 5 dollars on lunch at my work!
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Posted 09-09-2008 at 09:51 PM by semmel88 semmel88 is offline
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Sharon's Avatar
I like this idea and I'm going to do it..............
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Posted 09-18-2008 at 11:02 PM by Sharon Sharon is offline
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frugalsinglemom's Avatar
Great idea! I was trying to keep a spending journal, but lost the oomph at day 5. This is easier to do.
Thanks!
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Posted 09-21-2008 at 03:49 AM by frugalsinglemom frugalsinglemom is offline
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$13.69 a day=

That is unbelievable....I would never have imagined that little bit of money would add up to so much. MY dd (homeschooling mom of 3) that she needed a way to earn some extra cash...she's already making $5000.00 a yr. to stay home with her kids...
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Posted 09-27-2008 at 05:57 PM by bflegg bflegg is offline
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FruGal's Avatar
I'm glad I'm not the only one who thinks this way. My sisters-in-law never pass up a "bargain" and both are so deep in debt!
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Posted 09-27-2008 at 05:58 PM by FruGal FruGal is offline
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