The Cost of Impulse Buying

Responsible spending can be a drag.  I used to think this way until I realized just how much money I was losing every month in casual costs.  The first time I sat down and tracked my expenses I was shocked at the total amount for dining out.  More recently, I experienced a couple of great examples of why comparison shopping is also important in a healthy budget. 

While holiday shopping at a mall, I ran across a wristwatch I just had to have.  In a moment of weakness I purchased the watch, justifying it to myself with every reason I could dream up.  Weeks later, after the return policy date had past, I looked up the watch online and found that I could have purchased it for nearly half of the cost from a reputable online source.  Had I only looked sooner or searched the item on my smart phone while in the store I could have saved a bundle! 

A few days later, my parents asked me to use my internet skills to help them purchase them a new television.  By shopping online and waiting for the best deal, I was able to find one with the same specifications for 40% less than the best price they had found.

These examples show just how important it is to use all your resources to help you spend carefully, especially when making major purchases.  When making non-essential purchases it is also important to consider carefully, be patient and take your time.  Doing a little research can save you a bundle!

Thomas Nitzsche is Clearpoint’s Media Relations Manager, former credit counselor and resident credit expert. He enjoys bargain travel, planning his tiny house project and working on his family’s 1850’s farmhouse in southern Illinois. You can follow him on Twitter.

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