Do you think you’re a pro when it comes to saving money? Think again! You might just be a victim of practicing money saving myths, you don’t know it is already hurting your wallet. Everyone can save money but not all of them can save money right. Here after some of the money saving myths you should be wary of.
- Buying in bulk is always better.
You may have seen it so many times in packaging labels and in the commercial as to how buying in bulk enables you to save up to this much. Although it is true, you should also make sure that you are buying in bulk the right things. Buy items in bulk when you use it routinely. Also, be wary of in bulk perishable goods, for it might cost you much if it reaches its expiration point before you can even make use of it.
- Debit card is better than having a credit card.
Most of the people are afraid of having credit cards because they believe that it would definitely make them float in chains of debt and would just opt to use debit card instead. But the truth is, credit card is way better because of the benefits you can gain such as protection programs in theft or damage and so much more. Not only that, it helps you improve your credit score.
- Online deals are always the best buy.
There are a lot of on sale, discounts and freebies in online shops, but that does not mean it’s a good buy for everything. It’s like a bait and you are getting hooked to buy things that are not really necessary just because it is offered in such a great way. If all things were advertised in the web this way, you might just lose a hefty amount of money in no time.
- It is better to save money in the short term than pay off old debts.
Saving money than paying off your long time debts are a big No-No. Just imagine you are like saving money yet not really saving at all because the interest in your debts would all pile up and it would leave you to still pay it in the future and with higher interest at that. Thus, make sure that you are debt free before you even try saving money.
- It is cheaper to buy from a third party retailer rather than have the full value from a first-hand carrier.
Of course first-hand carriers would be more expensive because there is a company warranty attached to the product and you can make sure that when the product arrives it is with good quality. Unlike those of third party retailer, even if they offer a lesser price you should be wary of the fine print on it. You might just have lost the warranty of the product or the other benefits first-hand carriers offer to their customers if you buy it from them.
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