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So, can you actually save money by spending?
Heres what Cruze had to say on the topic.
Also here are other spending traps to avoid.
What Is Spaving?
Offering discounts to customers who spend more is a common marketing tactic from brands hoping to increase sales.
Youre spending more but paying less per unit for the items youre buying.
Companies run these types of promotions all the time to draw in customers.
Brands take advantage of that urgency and encourage spaving.
Does Spaving Actually Work?
The question is whether deals like these actuallyreduce your expenses.
The answer depends on your shopping habits.
You didnt save money overall on that trip, but you did save money on each box of cookies.
You spent $6 instead of $9 on these three boxes.
Yes, you got extra cookies, but you ended up spending more than you planned to.
You may damage your finances and fall into bad habits while trying to save money.
The problem isnt necessarily spending more.
She said, Its a bad thing when youre impulse spending and youre not being proactive.
If youre ignoring your budget and hoping to figure it all out later, spaving wont improve your finances.
Using Spaving the Right Way
Spaving isnt all bad, though.
Cruze recommended one spaving hack, which is taking advantage of buy-one-get-one-free or discounted deals.
She personally uses this while shopping in grocery stores for food like yogurt.
If you already need two units of a product, a BOGO deal will save you money.
Even a discount on the second item after buying the first is helpful as long as you need both.
Complete an honest assessment of your shopping habits before spaving.
Only spend more for deals on products youll actually use more of.
How To Avoid Overspending
Its easy to get sucked in by flashy deals.
Before you know it, youoverspend on products you dont needor even really want just because of the sales.
You have to understand what you need and how much you might afford to spend in different budget categories.
Ask yourself whether you have enough money to purchase the second item in a promotion.
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