Monday, August 3, 2009

Money Mantra #7: Avoid bewitching "bargains"

Are you buying that orange striped polo shirt just because it is 75% off ... or do you really need an orange striped polo shirt? Do you even like orange striped polo shirts? And those notebooks you fished out of the bargain bin? Do you need another notebook just because it is $.99? Perhaps you've been bewitched into thinking that you're saving money because the prices are so appealing? But are you really saving money if you didn't need the item that was on sale in the first place? Three simple rules to go along with this Money Mantra: Make a list of things you actually need. Look for great deals on those items. Don't buy anything else.

Cheap and Cheerful's Bottom Line: If you would not want the item if it was only offered at a slight discount, don't buy because it is offered at a steep discount.

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