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Is that 30% discount really saving you money?

Sale Sale Sale! In Singapore, that word would drive some shoppers crazy! 10% off, 20% off, up to 80% off! But are you really saving?

Recently I’ve been pondering over the word ‘save’. When someone says, “I decided to cook in the whole week instead of eating out. I saved $100 that way“, I wonder, did that $100 go into a Savings account? Or is it merely re-channeled into other spending? If it enters a Savings account and helps grow your savings, then it is truly saving you money. If you spend your savings on other stuff, then you are merely maximizing your dollar, not saving it.

Another way to look at it is, you see a blouse for sale, at $30 – $20 after discount, and you buy it. Did you budget for that blouse and really want it or are you buying it just because it’s 33% off? If it’s the former, then by not buying it, you have saved yourself $20. If it’s the latter, and you put the $10 in a savings account, then you have truly ‘saved’.

The next time you apply a money saving tip, do make the word ‘save’ come to life. Channel the amount into your savings account, and watch your money grow from your effort and frugality! If you choose to reward yourself for your good behavior, at least you have some savings to give yourself a treat!

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One Response to “Is that 30% discount really saving you money?”

  1. rocking savings, im savings, internet savings Says:

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