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By: Marvin Germo | July 13, 2019

Sale Is A Trap

Some shoppers fall in the idea of sale or a certain percentage off. But if you will observe, it’s turning into some kind of trap that attracts you to spend more of your money even if you exhausted your budget for shopping already. This is becoming a habit for young professionals especially those who just got their salary for the month. Let me tell you one important thing that you should remember as a millennial—sale is a trap and you should be able to know when to avoid it. If you don’t know how, here’s a couple of things you can do to avoid spending too much when you the big sign “sale” in malls.

Catch me in my live training events! (quick plug)

The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.

Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019

ICON Iloilo – August 17, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar —  October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019

Set Your Budget For Shopping 

The first thing you need to do is simple and doable—set an amount for your shopping spree every month. In this way, you will have control over your salary and since you set a limit for yourself, you won’t be spending all of your salary like a one-time millionaire. The amount is up to you to decide but make sure that it doesn’t exceed the amount of what you should put in your savings. Remember that shopping for something you don’t need is treated as an unnecessary expense. Therefore, you should minimize your spending as possible as you can.

List Down The Things To Buy

It will be easier for you if you will list down all the things you need to buy when you shop. Plus, it will minimize your shopping time. The tendency when you roam around the mall trying to find the stuff you need is you get to see some things that you don’t actually need and get tempted to buy them. If this happens, your shopping budget will be ruined in no time. As someone who is tracking his expenses and savings, that is not a good idea at all. So, before you go to the mall, prepare your list and ensure that all the things you need for the month are there already so you won’t have to come back.

Check The Quality

Sale does not always mean companies are happily giving you discounts on their products. Most of the time, items on sale are deteriorated and their qualities are not the same as before. So if you are going to shop during the sale season, make sure to check the quality of what you are buying because if you don’t do this, you will have to spend again for another product as a replacement. Be a wise shopper and don’t easily fall for discounts. Think carefully and when you think it’s time to buy, that should be the only time you are buying the stuff you need. Impulsive buying is not always the answer.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
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