It’s really easy to feel like you’re saving money when in fact you’re just wasting less.
In this blog, I’m going to give you three examples of things you might be doing that, whilst well-intentioned, aren’t actually saving you money even though it might feel like they are.
- Buying things just because they are on sale
- Buying in bulk ‘just in case’
- Using vouchers and coupons for the sake of it
Why does this matter? Because next time you go to do one of these things I’m hoping you’ll think twice. Plus once you get in to the habit of second-guessing your financial choices I guarantee you’ll keep doing it.
Let’s get in to this:
Buying things just because they are on sale
The ONLY time you should be buying something that’s on sale is if you need it or want it already.
Let me illustrate this really simply for you:
If you need something that’s normally £20 and you get it for £10 you’ve saved £10.
If you buy something that you don’t need for £10 that’s usually £20 you haven’t saved £10 you’ve spent £10.
2. Buying things in bulk ‘just in case’
It’s very tempting to stock up on things that you might need some time in the future. Notice I said ‘MIGHT need’ not ‘WILL need’ – that’s the difference.
If you KNOW you’re going to use something in the future (I do this for things like medicine, cat food, razor blades and protein powder) then fill your boots whenever they’re on sale. If you MIGHT use it, don’t bother.
3. Using vouchers and coupons for the sake of it
Don’t get me wrong, I love a deal as much as anyone BUT (and I hate to break it to you) companies don’t give out vouchers and coupons just because they feel like being nice! In fact companies don’t give free stuff away for nothing. EVER!
Trust me, I’ve watched enough videos by extreme UK couponers like Jordon Cox, Emma Mumford and Holly Vlogs to know that you can game the system if you’re clever about it AND get loads and loads of freebies but bear with me on this one.
If you use coupons to get deals on things you already need or as a way to get cheap (or free) stuff that you can sell on you’re winning.
If you use coupons to pile up your ‘haul’ for Instagram photos or get suckered into buying more stuff when you’re collecting your free knick knacks you’re losing.
Get to know the MoneySavingExpert.com Money Mantras
One of the things that really hit home for me a while back was the Money Saving Expert money mantras so it felt right to give them a quick shoutout here. If you haven’t seen them before here they are:
They even have a FREE printable version that you can take shopping with you! Download that here.
Next time you’re thinking about taking a deal or using a voucher, make sure you’re doing it to save money, not just to waste less.