With the busy shopping season upon us, you're probably striving to get bigger and better deals.
But there are some actions that actually delay your buying power and cause you to overspend.
Here are five things you may be guilty of doing that prevent you from getting the best deal available.
•Lack of comparison research
One of the biggest mistakes is not shopping around or doing research before making a purchase.Too
many of us believe that the price displayed is the lowest available, but this is not always the case.
Sometimes stores will cut prices due to overstocked inventory, or a local region will be doing a
promotion not offered anywhere else. It pays to take the time to research and comparison shop before
making your final purchase.
•Not knowing your credit score
Not knowing your credit score can greatly reduce how much your credit card limit will be, or how much
you can apply for when taking out a personal loan. Your credit score is the most important number that
financial institutions consider.
In addition, you could qualify for a lower interest rate or be stuck with a higher one depending on
your credit score.This could save or cost you more money in interest fees and charges.
•Rushing into a buy
Consumers tend to spend more money when they need something in a hurry. Needing to buy
something at the last minute isn't always avoidable, but strive to take your time, really
evaluate whether or not you have to purchase this item right now, and wait for at least 24
hours to ensure you can find the best deal possible.
•Not asking the right questions
As consumers, we often forget how a simple question can save us a good portion of change. A great
deal like price matching, simply negotiating for a better price will usually pay off. Sometimes
stores will still take expired coupons,a cash payment for less instead of a card, or the manager
may alert you to a holiday promotion coming up. Just ask.
•Missing out on cash back
Between cash back credit cards and cash back websites, there's no lack of opportunity for you to
maximize your buying power by earning cash back on all your purchases. These simply allow you to
get money back for doing the shopping you were already planning on doing.