The “Limited Time” Trick
The sale ends tonight, I have to buy it, it’s such a bargain I have to get it. These are some things you may have thought or said to yourself before and something very common in today’s society. Deals like this that are limited time create a sense of urgency and that sense of urgency changes how you deal with the purchase. What is important to understand here is that the deadline gives you less time to think and creates a certain sense of scarcity around the product that may not exist, it is important to think carefully about the purchases you make and see if it is really worth it even if it has some “amazing” deal. The “limited time” trick also builds a sense of FOMO where you do not want to miss out on an potentially great deal. Make sure to check similar products to make sure it is actually a good deal and to calculate the actual cost. There is still a very much real cost even if it is on sale. Another good way to see if the sale is worth buying is if you would have bought the product at the original price then I would recommend getting it. Make sure to stay safe with your purchases and only buy what you really want or need.
Subscriptions: The Payment That Keeps on Going
Recurring payments are one of the best ways that companies can get you to keep spending. These payments are very easy to overlook as they happen automatically and seem like fixed expenses but in reality are not. Recurring subscriptions are typically charged monthly or annually and are manufactured to make cancellation even harder than signing up in the first place. As a consumer and student, you should be asking or looking at the subscriptions that you or your family is using and objectively say whether they are worth it or not on a per month or per year basis. Many times people forget about them and have an expense that is absolutely not needed and it is important to be able to recognize that. The problem isn’t that the subscription is expensive, it’s that you forget all about it.
How Psychological Pricing May Get You
Business are not your friends, they are designed to get money out of you and their pricing on goods is a huge way they do so. Have you ever wondered why things are $9.99 and not $10, this is because people are more prone to buy the item and see the odd numbers in 9.99 to believe that the number is closer to 9 and not 10. Make sure to actively think about the price as 10 dollars in this instance and contemplate greatly whether that price is worth it. Another way that companies may get you is through creating an incentive to buy more whether it is buy 1 get 1 50% off or buy 2 get one free or even free shipping costs for orders over $30. What all of you need to realize is that the companies are doing these deals to make money, it may not be in your best interest to take them and it is important to recognize them as profit makers to make the best decision possible with your money.