You’re on your way to Target to pick up the essentials for the week and you get a little distracted by the sale section in the back. Half off all Christmas decorations? This will totally save you money next year. You pick up all of the cute, much cheaper-than-usual decorations before checking out because it is a total steal that you just can’t miss out on. But are you actually saving money?
Black Friday, BOGO sales and clearance sections all claim to help you save money, but are you finding yourself buying more as a result? Sure, you are saving money if the milk you buy every week goes on sale because you would have bought it anyways, but sales aren’t trying to help you spend less; they are trying to get you to purchase more by reducing the price of a product to make it seem more enticing.
Businesses holding sales is a marketing strategy to sell more of something. Have you ever found yourself purchasing a $16 top that you wouldn’t have bought had it been $30s? Or maybe now you think you can buy two tops on sale because they equal the price of a regular one? Did you need them at all or did you just want them and now they seem more accessible? It is important to take time to reflect on whether the product you’re about to buy is a need or a want, if it is wasteful or useful and if you are actually saving or just spending.
Purchasing items on sale can help you save if you are sticking to necessities or something that you would have purchased either way, but usually sales are advertising schemes that play on psychology and trick you into buying what you don’t really need.
Two Northwood students remember specific moments when they overspent on account of a sale.
“I went to Hot Topic because they were having a sale,” sophomore Ray Brock said. “I had a budget of about 60 to 75 dollars and I spent 116 dollars…I spent double my budget.”
“This past Black Friday I went to the Ulta app and I set out to spend only $50,” senior Hannah Barnes said. “I ended up spending a little more than that…In the spirit of Black Friday sales, I got a little carried away. The sale convinced me to stretch beyond my comfort zone brand-wise with makeup and that worked to my detriment.”
