One of the best ways to ensure that you get the best bargain is to shop around. But, even as you shop around you might be taken in by certain buzzwords on an ad.
As you do your shopping, make sure that you dig a little deeper to make sure you are getting true value for your money. Money Adviser from the parent company of Consumer Reports warns against the emptiness of certain ad buzzwords:
“For pennies a day”
This claim is one that I think is most insidious. It’s designed to make you think that something is really inexpensive. But remember that “pennies a day” can start to add up later. It’s the equivalent of the car dealer asking you how much you can afford a month. You get a car payment that you can fit into your monthly budget, but you might be spending more money overall by the time the loan is paid off.
Don’t listen to claims of “only” a certain amount per day or month. Instead, look at the total cost and base your decision on that apples to apples comparison.
“Up to”
This is a term that is used to advertise all sorts of products and services. You might be told you can get “up to” 70% off something, or that a certain bank offers high-yield bank accounts of “up to” 1.5% APY. You assume you’re going to get the top price, but you might not actually be eligible for this amount.
The knife cuts both ways, too. You might see adds for loan rates “as low as” 1.99% or airfares “as low as” $69. All that means is that at least someone, somewhere, got that deal. You might not be so lucky.
“Free”
You might be promised “free” shipping, or another item that doesn’t come with another charge. However, Money Adviser points out that in many cases, the “free” portion of the item has been added to the original price somehow. You want to make sure you shop around for total costs, since it might be that you can get the same item for cheaper, even though you aren’t getting something “free” thrown in. Make sure you are truly getting a good deal.
“I was skeptical at first”
Adding testimonials to products and services is a good way for retailers to convince others to buy products. There is nothing that can substitute for a recommendation from a “real” person. However, you need to be skeptical of the skepticism of a testimonial. As you might imagine, the point of such a testimonial is convince you that the product is superior, since it overcame the misgivings of a hardened cynic.
Bottom Line
Really consider the products and services you plan to buy. There are all sorts of sneaky tactics used by retailers to get their hands on your money. Sometimes, the products and services really are worth what you pay for them. Other times, though, it’s just hype. You need to protect yourself from the hype, and remember that no one watches out for your money like you do.
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