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However, what seems like saving money could actually be costing you.
Youre Continually Replacing Cheap Goods
Some cheap items are inexpensive for a reason.
Low-quality stuff might initially seem affordable, but it often breaks or wears out quickly.
Youre left with the cost of replacing or repairing such items.
If you intend to use an item only once, buying cheap may be the way to go.
Cubans advice is sound.
Stocking up when prices are low can save you significant amounts of money.
According to Capital One Shopping, 67% of consumers have made impulsive purchases because of sales.
Theoccasional cheap impulse buywont damage your budget.
However, a frequent deal-shopping habit can.
You Have an Its Only Mindset
Telling yourself that its only $5 may seem harmless.
However, frequent purchases that stem from this mentality can chip away at your budget.
Every expenditure has an opportunity cost.
Once the money is spent, you no longer have it for another use.
If you want the financial freedom to splurge on unexpected bargains, establish a budget category for such spending.
Then, deductevery little purchaseyou make so you always know when youve hit your cheap-buys limit.
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