On Sunday, I got an email from Costco titled, '1Day Only - Spend and Save Event'. Maybe you got the same email? The title though, threw me off a bit because it got me thinking how on Earth can I save any money if I spent it on something, anything. I remember some stand up comedian years ago poking fun at such advertising gimmicks when he blurted out, "Spend 2,000 dollars and save $500", after which the audience erupted in laughter.
Other gimmicks like, 'Save 70% Now' and 'Half Price' are only there to entice you to spend your money, not save it. While there are things we need in our lives that are indeed a good deal when these items go on sale, most things that are supposedly on sale to entice you to 'save money' are really to coerce you into emptying your wallet.
Much of the things we spend our hard earned money on are for toys or things we really just don't need. We buy stuff for the simple pleasure of buying something. It's a great feeling to purchase things with money you worked hard for. It's a personal reward for our efforts and we certainly deserve it.
On an almost daily basis though, my mailbox is flooded with flyers and advertisements for one thing or another. Of course, businesses need to advertise to promote their wares, otherwise we'd likely never hear or learn about them. The one thing I'm against though is using the ploy that you're saving money by spending on their products or services. The best way to 'save' money or better put, reduce the amount of money you'll spend is to compare prices from competitors.
Unfortunately, humans by nature are gullible and so many continue to fall for these gimmicks to convince you it's a good idea to part with your money. This is part of the problem as to why so many are flat broke. You had to get the latest iPhone for $1,000. Thank goodness you saved $200 off the sticker price. I'll just wait a year or two for all the unsold iPhones to pop in places like Factory Direct for a fraction of the cost, should I choose to.
When you spend your money, it's spent, not saved so don't be fooled by these attractive ads. They don't care if you're already broke. Just use your credit card. You're saving money, remember?
Even the biggest car companies are doing it. I drive a Rav4 and got a postcard in the mail last year from Toyota. 'We NEED your old vehicle. Come trade it in for a new one'. They need it, huh? My vehicle is 10 years old. I just spent $2,000 getting it up to speed and she drives like brand new. A new Rav4 here in Canada now goes for $40,000 and above. Even if I spend $2,000 a year to maintain my vehicle for the next 10 years, it will amount to half the cost of a new vehicle, not to mention lower insurance premiums. Apologies to Toyota but I intend to keep driving the car I bought 10 years ago for another 10 years, maybe longer. Even legendary comedic actor Rowan Atkinson wrote an op-ed recently about vehicle ownership and he too suggests holding on to your vehicle for the long term and explains why (link here).
There are legitimate ways to save money. A good way to preserve your wealth is by holding precious metals and some crypto like Bitcoin. We're not only working against ploys to distract us into spending our cash but also against the rising inflation tide, so holding cash for the long term, unless it's in a high interest earning bank account, is not a good idea.
It's hard to save for a nest egg in this environment. By avoiding the pitfalls that can be brought on by some advertising campaign out to fool you into spending for something you really don't need, it might not be as hard for you to save your money. For some people, these ads are like candy and as you know, sweets can be quite addictive. This is what the advertisers rely on. They rely on our weakness for sweetness.
In my own honest opinion, companies should not be allowed to state that you're 'saving money' by spending money on their products or services. They can state that you're getting a discount on the sticker price but the truth is, you're not saving anything if you're spending it and in many cases, conditions apply!
'SAVE 50% - when you spend a minimum $500'...............................................
Going back to that Costco email, 'Spend between $1,000 to $1,499.99 to save $175'. The big DEAL is on spending anything over $2,500 to save $500. Will you really save $500 by emptying your account of $2,500? And for God's sake, please don't charge it to your variable rate credit card. If you do, then they got you good. Hook, line and sinker!!!
Peace and love to everyone.
I'm now also on Substack where I will soon begin new podcasts as well as post extra material.
Previous Posts:
San Francisco - Echoes of old Detroit
Fed finally pauses after most aggressive rate hike in its history.
Time for a winter to spring gardening update.
M2 money contraction + rate hike double lag effect
Silver's massive 237 million ounce deficit
Never before seen divergence between silver and gold.
These sponsor links help support my blog. Thank you!
Earn free Bitcoin using CryptoTab Browser.
Purchase any precious metal at OwnX.
Secure your crypto and get $10 in Bitcoin - Ledger Nano X
Support free speech - join Rumble today.
Earn TFuel watching livestreams on Theta tv
Bitify - Buy and Sell Bitcoin marketplace
Videvo - Professional Quality Videos
Help Theta grow and earn 0.25 Stablecoin
Subscribe to my blog and hit the 'like' button if you enjoyed this post. Tips are always appreciated.
