When a Good Deal Really Isn’t

Who doesn’t love a good bargain? However, sometimes what seems like a good deal really isn’t.

As you take some time off from shopping for the No Spend Month Challenge, consider this. It doesn’t matter whether you’re shopping at Bloomingdales or Goodwill, whether it’s 20 or 50 or 75 percent off. If you’re buying something that you won’t use, don’t need, or simply isn’t in your budget, then it is ultimately a waste of money. Taking advantage of that amazing bargain is ultimately costing you something much more than you’re you’re saving. In fact, you’re not saving any money at all.
What could be so costly about saving a little money?
No matter what your intentions or ideals, each purchase you make says something about your true values.When you go back to spending next month, try to hold onto your mindfulness of each purchase. Don’t only ask, Does this fit within my budget? Also ask, Does this fit within my values? Does that purchase move you toward the goals you have for your family?
If you want to go green, is this item environmentally friendly? If you’re saving up for the family trip of a lifetime, is that item really necessary? If you want to support American jobs, is this item made in the USA? If you want to live free from debt, is this purchase preventing you from making extra payments? If you want to work less and spend more time with family, how long will it take you to earn back the money spent on this item?
Every one’s values will be different, but if a particular item does not fit within those values, then the answer is simple: Don’t buy it.

How do you evaluate which purchases to make for your family? 

shannon Clark, Financial Coach

As a financial coach, I provide you with the guidance and support you need to manage your finances with confidence—so you can stop stressing about money. Since 2014, I've helped over 5,000 women and couples pay off debt and save for the future. Will you be next?

8 thoughts on “When a Good Deal Really Isn’t”

  1. This is such a good reminder! I sometimes fail in the department of “but it hardly cost anything” then I end up not really needing it! I was proud of myself recently when I went to a store with a $10 off $30 purchase. I found two things I needed, but it didn’t add up to $30. Instead of buying more stuff, I left and decided to go back when I figured out what I would really need or when the stuff I wanted was on sale. I need to remember that just because it is on clearance, it doesn’t mean it is free.

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    • Oh those coupons are the worst! Companies are making money from those coupons. Otherwise they wouldn’t send them out. You are so good to resist the temptation to buy more than you need!

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  2. You have to spend to save money on it!! I have learned with 6 kids that we don’t buy unless we absolutely need it and can’t find it used or cheaper somewhere else. There are so many people without, that we can do our part and cut back. Great article!

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  3. I’m a sucker for a deal, but I have stopped entering giveaways for things I don’t need (or don’t have someone in mind to give it to) and I avoid buying things we don’t need or have space for.

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