Be smart during the sales
Why not every “bargain” is a good deal – and how to protect your wallet in the lead-up to Christmas.
As the year winds down, retailers are ramping up their marketing for major “sales events” such as Black Friday, Cyber Monday, and the Christmas shopping season.
These promotions promise deep discounts and limited-time offers – but if you are on a fixed income, it’s important to approach them with a clear strategy and a healthy dose of scepticism.
Sales are designed to create urgency. Phrases such as “today only”, “limited stock”, and “lowest price ever” are meant to trigger impulse buying. But not all deals are as good as they seem.
Some retailers inflate the “original” price to make the discount look bigger. Or they offer older models of products that are no longer in demand.
Before handing over your cash or card in a store, or clicking “buy” on a website or app, take a moment to ask: Do I really need this? A bargain is only valuable if the product serves a genuine purpose in your life.
Here are some smart shopping strategies to consider:
Do your homework. Before the sales begin, make a list of items you actually need. Research their regular prices so you can spot a true discount when it crops up.
Compare across retailers. Don’t assume the first deal you see is the best. Use price comparison websites or visit multiple stores – online and in person – to find the most competitive offer.
Check return policies. Some sale items may be non-refundable or have limited return windows. Make sure you understand the terms before purchasing.
Watch out for scams. Big sales events attract scammers. Be wary of unfamiliar websites, unsolicited emails, or deals that seem too good to be true. Always shop from trusted retailers and look for secure payment options. Visit NSA’s Keep Scam SAFE website for more information.
Avoid emotional spending. Sales can be exciting, but don’t let the thrill of the hunt override your budget. Stick to your list and avoid buying just because something is discounted.
You should always be mindful of your financial security. While it’s tempting to grab a deal, it’s wise to keep some savings aside for unexpected expenses.
If you’re considering a big purchase, ask yourself whether it fits into your long-term financial plan.
Sales events can offer genuine savings – but only if you shop with intention. By staying informed, comparing prices, and resisting impulse buys, you can enjoy the benefits of seasonal discounts without falling into the trap of overspending.
Disclaimer: This article and any links provided are for general information only and should not be taken as constituting professional advice. National Seniors Australia is not a financial advisor. You should consider seeking independent legal, financial, taxation, or other advice to check how any information provided relates to your unique circumstances.
