One thing that’s on everyone’s mind lately is how to save money. That’s why we went to Dr. Joseph Ganem, author of The Two-Headed Quarter: How to See Through Deceptive Numbers and Save Money on Everything You Buy. He gave us these tips on being a better shopper:
- Let’s start with promotions like “Buy one get one free.” Of course they sound like a better deal than “Buy two and get 50% off” – but actually, they’re the same thing. So, if you don’t need one, you’re certainly not saving money by getting two.
- Make sure you do the math. Marketers know that people respond positively to large numbers. So, a “90% fat free ice cream” sounds great. The flip side of that claim is, “This product is 10% fat!” Think about it like that, and you’re less likely to put it in your cart - or your stomach.
- Always look at the big picture. No one likes to spend more than they have to, or give up a good deal, but that kind of thinking can backfire. Let’s say you get a zero percent credit card offer. It’s hard to pass that up, right? Well, if there’s a transfer fee and a higher rate after the trial period, that great deal could end up costing more than if you’d stuck with your original rate and committed to paying down the balance. Plus, if you’re late on just ONE payment, you’ll probably void that zero percent interest promotion.
Want to go further? Check out Joseph Ganem’s The Two-Headed Quarter: How to See Through Deceptive Numbers and Save Money on Everything You Buy.
