Avoid Overspending on Vacation With Fewer Shopping Trips

It’s easy to spend extra money during the holidays. You’re in spending mode anyway, all the advertising and the hype goes to you, and you think, “Oh, how many more bucks? These are the holidays! »One easy way to avoid this? Make fewer shopping trips.

If you are anything like me when you shop for gifts, you have a tendency to pick up “just one or two little things” when you are in every store. Usually it’s a little extra gift, a filler for a stocking, or, okay, a little treat for me. Business Insider adds that often, if we don’t find what we’re looking for in the store, we still feel obligated to buy something because we’ve already taken the time to shop. This is a sunk cost fallacy and can be dangerous .

Here’s what they suggest, quoting Trent Hamm, author of 365 Ways to Live Cheap.

Before heading to the holiday store, make a list detailing what you intend to buy and which stores have those products, then stick to your list. If you find it difficult to limit the time you spend shopping, set a timer when you walk in the door, Hamm suggests, “Set a temporary goal for when you need to checkout and leave the store. This will reduce your chances of being distracted by impulsive purchases and allow you to focus on the things you are about to buy. ”

They offer a number of additional savings tips, so check out their full article below.

365 Ways to Live Cheap | Trent Hamm via Business Insider

More…

Leave a Reply