After the Controversial Money Tip # 3 (which did not go down very well with married readers 😉 ), here is another one to help you save some money. And with festival season just round the corner, this might be quite a useful one.
Many companies are readying to launch new gadgets, products, offers, discounts, freebies to attract people to buy more this season. E-Commerce giants like Flipkart & Amazon are working on war footings to ensure that they get the maximum wallet share this time; even if it means that they have to sell products at less-than-zero margins.
And how can your ‘well-wishers’, the Credit Card companies be far behind this season? They are ready to offer you double and triple reward points if you make purchases exceeding some pre-decided value over the next few days.
The fact that you earn a point after spending close to Rs 100 and value of hundreds of such points is less than 100 is a different story altogether.
Now many of us are planning to buy new gadgets, mobile phones (iPhone 6 is here), electronics, bikes, cars, etc.
Now here is the tip:
Before you actually go and buy something, wait for atleast 15 days and then ask yourself whether you really need that ‘something’ or not? Most of the times, you will find that you are buying it just because you want to buy something and not because you need it.
In this way you get to know if the purchase which you want to make is really required or its an unnecessary one, like upgrading from iPhone 5 to 6, buying a newly launched LED TV when you just bought one last year, etc.
And believe me, if you start practicing this 15-day concept, you will find that once these 15 days have passed, you would have saved yourself money by just waiting and not acting on your initial urge to buy.
I hope my wife does not read this post. 🙂
If you have some interesting money saving tips, please do send them over to email@example.com and I will share it with readers in Money Saving Tips section(with credits to you).