Promotions, rebates, flash sales and special offers are common. The stores market their products in such a way that appeals to us. They make us feel like we either want it, need it, deserve it, or in some cases, they present it as an offer that we just can’t refuse. Whatever the reason may be, we have all succumbed to advertisement at one point (or many times, as the case may be for most).
There are advantages and disadvantages to the deals and special offers you see out there. There are real repercussion on your wallet, and your ability to pay for the important things.
Special offers can allow you to optimize your purchases. By being alert to deals, you can spend less for the exact same things. Sometimes, special offers offer you cash or rewards. For example, some banks will offer hundreds of dollars, a tablet, or points to sign up with them. If you were thinking of switching banks, the time to do it would be when the institution you are interested in is offering you a substantial reward for doing business with them.
Credit cards will also often offer incentives such as points for signing up. If the points can be used towards something you would have spent on anyways, that is a great way to spend less money.
Temptation, temptation, temptation! As discussed, special offers can be a great advantage to you by saving you money with a discount, or providing a bonus (points, money, gift) that you then won’t need to use your own money to obtain. There is however a con to all these wonderful deals out there… you guessed it, the temptation. Maybe it is a great deal, but that only applies to your particular situation if you were already planning on buying it. If you get a small kitchen appliance on special at 200$ when it was initially 300$, that is an amazing bargain. You’ve just saved 100$.
If you weren’t planning on getting it, or you don’t really use it though, you didn’t really save 100$, you spent 200$ that you would have otherwise not spent. Not so great of a deal when you look at it that way!