Money-Saving Shopping Hacks That Can Cost You Big

In today’s economy, every penny counts. It’s no surprise that we’ll try anything to save money when shopping. But not all the tips and tricks out there are worth it. In fact, some of the most popular cost-cutting measures being promoted to consumers may end up making you spend more money than you would have otherwise. Here are seven ‘money-saving’ shopping hacks that could cost you big.

Shopping in Incognito Mode

It’s widely believed that online shoppers get targeted by their algorithms and shown higher prices on certain products than others. However, this belief can negatively impact consumers who think they’ll get better deals by switching their browser to private or incognito mode. This can work against you as some sites offer exclusive discounts to returning customers, an element lost in incognito mode.

A variety of shopping items

Using Credit Cards to Earn Rewards

Building up points while you shop can seem like a no-brainer way to benefit from your spending. But using credit cards for small purchases to earn rewards is one of the easiest overspending traps consumers fall for. People tend to underestimate the amount they spend when using plastic instead of cash, leading to higher credit card balances and potentially accruing interest. Not only that, but the ’lure of rewards’ can also lead to impulse buying, canceling out any benefits from the rewards program.

Trying to DIY or Upcycle Everything

While it’s often assumed that DIY-ing or upcycling is a cost-saving measure, finance expert David Kemmerer says this life hack can easily end up costing you more money than just buying the product you wanted in the first place. I know lots of crafters who have spent tons of money on supplies and items to upcycle, only to never get around to them, or end up spending lots of money on restoration only to have the item not work how they wanted it, or not to sell as intended.

Blindly Buying Discounted or Clearance Items

The clearance section at any store is sure to attract shoppers looking to save money. But shoppers sometimes throw away money by blindly buying discounted products because they’re not paying attention to the quality. Items marked down due to defects or nearing expiration may require repairs or replacements sooner, negating any initial savings. Retailers promote clearance sales to clear out excess inventory and attract shoppers with the promise of steep discounts.

Always Shopping for the Lowest Price

Similarly, shoppers looking to spend less often assume that buying the lowest-priced product is the most cost-effective choice. However, this can end up costing you big in the long run. These low-cost items often have a shorter lifespan and need frequent replacement. Still, most retailers promote these cheaper alternatives to appeal to budget-conscious shoppers, despite the potential long-term financial consequences compared to investing in higher-quality items upfront.

Buying Everything in Bulk

Stores like Costco and Sam’s Club can really make a difference for shoppers because they offer a multitude of products in bulk for a lower individual cost overall. However, if you don’t have a reason to buy things in bulk, personal finance expert Abid Salahi says you shouldn’t. Bulk purchases can be economical—but only if you have a realistic plan to consume or use the items before they expire or become obsolete. Otherwise, you may be wasting money on excess inventory that may go to waste.

Ignoring the True Cost of ‘Free’ Shipping

A lot of shoppers will fixate on free shipping offers without realizing they often have hidden costs that consumers overlook. Retailers may inflate product prices or require a minimum purchase amount to qualify for free shipping, leading shoppers to spend more than they initially intended. And if you want to get your items sooner, you may still end up having to pay additional fees for expedited shipping, which can further add to how much you’re spending.

By Alice Bennett