By Anne-Marie Botek, AgingCare.com Editor
Looking to save some money for your end-of-the-summer vacation? Here are five commonly-touted tips on thrift that you should ignore:
1. Go cold turkey. For the same reasons that crash diets don’t work, trying to stop all of your superfluous spending all at once is likely to be an ineffective tactic. In fact, you may end up spending more money on future impulse buys if you try to.
What to do instead: Try tapering off your inessential purchases gradually. For instance, you can start off by simply: start skipping your daily trip to the local coffee shop. Depending on what kind of caffeinated cup you usually order, this little trick may end up saving you $3 or $4 a day. You can still get your caffeine fix–just make your drink at home using ingredients purchased from the grocery store. A quick online search can give you a host of copycat recipes so you probably won’t be able to tell the difference between your home-brewed version and the coffee shop’s. (See How to Brew Coffee Like a Barista.) When it comes to resisting large purchases, like a new plasma TV, or state-of-the art standing mixer, you may want to wait a few weeks before spending your money. Chances are that, after giving yourself some time and distance from a shiny potential purchase, you won’t feel a strong urge to buy it—you may even forget that you wanted it in the first place.
2. Bulk up all of your buys. A 10 for $10 deal may seem like a real bargain, but if the sale is on perishable goods that really can’t be frozen (fresh fruits, veggies, etc.) or things that you aren’t likely to use a lot of (reams of high-gloss cardstock) you should resist the temptation to buy.
What to do instead: Stock up on certain items. Trash bags, toilet paper, toothpaste, and soap are all items that you’ll always need, and that will keep indefinitely. If you see that these kinds of products are on sale, don’t hesitate to nab them before someone else does.