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6 Strategies for Taking the Temptation out of Sales

By U.S. News & World Report

Sales can be an enormous temptation. The draw of low prices and great deals can be a siren’s call, luring in people to get big bargains.

But what are you really buying?

Even in the best of circumstances, post-sale regret can be a real thing. After all, you’re still spending money that could have been used for other things. You might also come to recognize that the things you bought aren’t that great to begin with.

Still the temptation of sales can be tremendous at times. The possibility of finding that big bargain on that thing you’re really looking for can pull you right into the store. And before you know it, you’ve swiped that credit card once again.

[See: 12 Ways to Be a More Mindful Spender.]

Here are six strategies to avoid that scenario and break the temptation of sales.

1. Don’t go to the sale to begin with. It really is that simple. Just because a store is holding a sale doesn’t mean you have to go, especially when you don’t have something specific in mind that you need to buy.

Just don’t go to sales. In fact, don’t even look for sales unless you have a specific item in mind, at which point you should focus on sales solely for that item.

Sales on a bunch of stuff you don’t really need aren’t worth your time.

2. Make a “microbudget” before you go. If you decide that a sale is worthwhile, decide exactly how much you’re going to budget before you go and take exactly that amount in cash. Leave your credit cards behind so that you can’t spend more, even if you want to.

This strategy enables you to keep a firm grip on exactly how much you spend at a sale by denying yourself the capacity to spend more. You can choose your spending limit in advance by taking a serious look at your financial state and deciding what’s appropriate before you’re ever even tempted by an on-sale item.

3. Ask yourself if you would buy this if it were not on sale. The price is great and the item is intriguing, but do you really need it? Just ask yourself this simple question: Would you really be considering this item if it were not on sale? If the answer is no, then there’s no good reason to buy it.

Just because an item has a discount attached to it doesn’t miraculously raise the quality level of the item. If it’s not something you would consider without the sale price attached, then it’s not something you should consider even when the price is right.

[See: 50 Ways to Improve Your Finances in 2016.]

4. Figure out if it’s really a bargain or not. Sometimes things that appear to be bargains really aren’t bargains. Even huge discounts might not really be all that much of a savings.

When you see a price that seems good on an item that you would actually consider at full price, pull out your smartphone and start shopping around. You might just find that this great sale price in front of you actually isn’t that great at all.

At that point, there’s no reason to buy it now. If you can get it somewhere else at a similar price, wait on it for a while and make sure you actually want this item.

5. Keep a physical reminder of your bigger goals on hand. Sales can be a huge distraction from the bigger picture in your life. When a 50 percent off tag is in front of you, it can sometimes fill your whole frame of mind and dominate your decision-making process.

[See: 10 Foolproof Ways to Reach Your Money Goals.]

Don’t let that happen. Keep a physical reminder of the bigger goals you have in your life on hand, preferably in a place that you’ll have to notice before you spend money. Use a money clip that depicts your family. Wrap your credit card in a sheath that shows your dream home on it. Add a caption to those images that says, “What are you doing today to achieve this dream?”

That little physical reminder can be enough to convince you to stop in your tracks and think again about what you’re doing.

6. Cultivate friendships with people who don’t care about the sales. Friendships and social groups often play a big part in “sale fever.” When you’re at a sale with friends who are also spending money, it’s really tempting to give into that indirect peer pressure and spend money, too.

A good approach to curbing your sale spending — and your incidental spending overall — is to cultivate friendships with people who couldn’t care less about sales, people who find pleasure and joy in other aspects of life.

If you have a dinner party at your house with friends who don’t care about sales, not only are you keeping yourself out of the stores, you’re also going to have conversations that don’t lead you back into sales. Simply choose to accentuate your relationship with people who don’t care about the sales at all and you’ll find that you care a little less, too.

Following these simple strategies can keep you from overspending at sales on things you don’t really need. Good luck.

More from U.S. News

12 Millennial-Inspired Ways to Spend Less

10 Fun, Frugal Ways to Spend Your Free Time

10 Money-Saving Websites to Check Before Shopping

6 Strategies for Taking the Temptation out of Sales originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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