Wednesday, 1 July 2015

Sales and Discounts To Your Life


Now is The Great Singapore Sale! Have you grabbed your discounted items?

Sales is a common tactic by retailers, and it comes with different forms. It can be bundle sales, flash sales, location-based sales and others. Marketing experts can tell you more. It usually trigger our greed to ride on the "rare" occasion to purchase materials at a lower price (Is it really that rare? I saw the same sales every day). If you over purchased or spend more resources (travelling, time spent) than the actual "saving", it is a wastage.



We spend our precious life away earning money. If we are using our hard earned money on items that we don’t need or want, literally, we are spending our life away. We earn money so that we can live our life, not to spend it. To put it bluntly, any unnecessary spending is allowing the merchants to take your time (money) away, not only the time spent on shopping (I know, you going to tell me there is such an experience called, retail therapy).

Every day, there are tons of people cracking their brains on how to take your money away from you. How to prevent it? Most of the merchants are incredibly intelligent, the "sales" actually hit you without you realising it? You mean faster than the superhero, Flash?

I think the best way to prevent from falling to sales tactics is to understand your needs and wants. Also, you need to understand the market prices, or at least use logical analysis. A piece of shirt can't cost you more than 10 dollars right? After you add in the rental cost, manpower cost, utility cost and other cost, yes, the shirt is sold to you at 40 dollars. Is 40 dollars the market price? That, you have to do your homework and thinking.

There is a difference between needs and wants. We, human, do need to have wants too. I make sure my wants are truly making me happy and I could well afforded it within my budget. Spending on my wants will be a deliberate and well thought through action.

I am not attracted by sales or discounts. I buy most of the consumable and objects on needs basis. I make an effort to plan what to buy, where to buy and when to stock up (taking into consideration of expiration dates and sales). Wait, you saw the word sales? Yes, I do love sales and discounts, only if I happened to need to buy that thing.

Sales and discounts is actually a good news, if you can curb your desire for overconsumption or unnecessary purchases. This will prevent buyer's remorse. What? You don't feel remorse buying things that you don't need? Good, live life without regret.

Have you discounted your life away to the merchants?

Frugal Daddy

4 comments:

  1. Thanks, that's a very important reminder in this consumerism society.
    What helps me to differentiate wants from needs is this simple exercise:
    Before a purchase I do take the time to consider what I’ll be doing from morning to night this coming Tuesday. How will the purchase affect me on Tuesday?
    Thinking about time used on a specific day (you choose your favourite weekday) — helps me make less biased predictions about how much any one thing will influence my happiness.
    If those thoughts about next Tuesday do not make me happy, I don't buy what I impulsively so much desired.
    Am I getting the biggest happiness bang for my buck?

    ReplyDelete
  2. Thanks, that's a very important reminder in this consumerism society.
    What helps me to differentiate wants from needs is this simple exercise:
    Before a purchase I do take the time to consider what I’ll be doing from morning to night this coming Tuesday. How will the purchase affect me on Tuesday?
    Thinking about time used on a specific day (you choose your favourite weekday) — helps me make less biased predictions about how much any one thing will influence my happiness.
    If those thoughts about next Tuesday do not make me happy, I don't buy what I impulsively so much desired.
    Am I getting the biggest happiness bang for my buck?

    ReplyDelete
    Replies
    1. Hi Andy, this is a great question to ask ourselves on whether the purchase value add to our experience. thanks :)

      Delete
    2. Hi Andy, this is a great question to ask ourselves on whether the purchase value add to our experience. thanks :)

      Delete