3 Shopping Hacks You Think Save You Money but Really Cost You More
Written by
Sean Bryant
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Even though inflation has slowed and prices on most everyday items have stabilized, things aren’t getting any cheaper. This is causing many Americans to look for ways to save money on shopping trips. However, while there are many ways to save money, there are also things that can cost you more if you’re not careful.
Keep reading as we explore different shopping hacks that you would think save you money but actually can cost you more.
Buy Now, Pay Later
Buy Now, Pay Later programs have become popular over the past several years. Programs like Affirm or Klarna allow consumers to purchase something relatively expensive and spread the payments over the next several months.
These work like a credit card; however, you won’t pay any interest on your purchase. This makes them a much safer option. Unfortunately, Buy Now, Pay Later programs can also have adverse effects. Because you can purchase items and spread out the cost with no finance charges, they can cause you to spend more than you should.
If you will use Buy Now, Pay Later to purchase an item, do so carefully. Ensure that the monthly payment still falls within your budget and limit yourself to a small number of these purchases at a time.
Try Before You Buy
Have you ever gone shopping for something but were unsure if you needed or wanted it? This is a familiar feeling for many people. Some retailers are helping to alleviate this issue by allowing customers to try before they buy.Â
Instead of making a purchasing decision on the spot, you can take the product home and think about it before buying. If you decide to keep the item, you’ll be charged. However, if you decide against it, you can return it to the store.Â
The problem with trying before you buy is that many of us get busy and it’s easy to forget to return something. If you’re going to take advantage of this, make sure you’re able and willing to return the item if you decide it’s not for you. Otherwise, you’ll be spending more money than you should.
Buying in Bulk
For many families, buying in bulk from warehouse stores like Sam’s Club or Costco can be a great way to save money. However, this isn’t the case for everyone. Buying large quantities of anything increases the likelihood of waste and the odds are even greater for perishable items.
Even though buying items in bulk can reduce the individual cost of each item, it’s crucial to understand if you need and can use a large amount. If not, the spoiled food will almost always make buying in bulk more expensive than purchasing items from the grocery store.
More From GOBankingRates
