Posts Tagged ‘banana republic’

5 Ways to Avoid Overspending on Almost Anything

Sunday, February 14th, 2010

As I mentioned last week, it’s pretty easy to waste money (with or without realizing it) by purchasing things that you don’t really need.  But as I was thinking about it, I realized that overspending is a habit that is just as dangerous as wasting money.  The difference between overspending and wasting money is that overspending means paying more for something that you’d be purchasing anyway, while wasting money also includes spending money on things that are generally unnecessary (even though they are often very nice).  And so, I thought for a while about how we can avoid overspending and I’ve come up with the following suggestions for how we can end this destructive habit.

  1. Always look for stores that will beat the price of their competitors or at the very least, offer a price-match guarantee.  I’ve recently discovered that many stores actually do honor price match requests, even though they may not advertise this service.  Here are some stores that will beat out their competitors (or, at the very least, match the price):
  2. save-on-brandsBed Bath & Beyond

    Best Buy

    Home Depot

    Kitchen Cabinet



    Stop & Shop



    Some stores also offer price adjustments if the item you bought goes on sale within 7-14 days.  Keep an eye on prices to see if you’re eligible for a refund at these great stores:

    Banana Republic


    Gymboree (within 7 days)


    J Crew (within 7 days)


    Old Navy

    Target (within 7 days)

  3. Look for coupons, discounts or deals.  I know I say this often, but the best way to get a bargain is to actively look for it.  One easy way to find a deal on almost any item is to Google it.  Chances are you’ll find deals on nearly everything you’re looking to purchase.
  4. Wait for sales.  Unless your desired item is price-fixed, chances are good that it will go on sale at some time in the next few weeks or months.  Enjoy extra discounts if you can double up coupons on the sale price.
  5. Buy a knockoff.  I hate to say it, but having a name-brand doesn’t mean much these days.  Purchasing an expensive designer or branded item will lead to overspending, when you can get a great look and decent quality with a good knockoff.  The best part about buying a knockoff is that you can afford to replace it when the trends change.  The same theory holds true for electronics, by the way – you may not want to buy the cheapest MP3 player, but there are several options that can provide years of reliable service, even if they don’t have a little apple on the back.
  6. Reduce membership fees.  Do you have a gold membership to the gym or a gold credit card that is costing you money each month?  Why not stop overspending by giving up expenses that aren’t really critical.  If you’re not taking advantage of that extra spa time or aren’t hitting your credit limit, you don’t really need these expensive upgrades, and changing to standard memberships can prevent you from overspending on a regular basis.