Carole Moore at Bankrate.com lists seven shopping traps to be avoided: 1.) Shopping as a hobby or a sport. 2.) Shopping sites on the internet – after all, it’s called “the net” or “the web” for a reason. 3.) Having to own the latest technology – skip an update or two. 4.) Mistaking shortcuts for savings – time saving products are very rarely money saving ones. 5.) Buying the brand name instead of the generic or store brand product. 6.) Buying clearance items you don’t really need. 7.) Taking couponing to the extreme – stick to coupons that are for products you regularly buy.
Read the entire article here: Seven Deadly Spending Traps
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.