A bad shopping habit

Can drain your wallet,

You can learn how

To stop it now

And be A myth busting hit.

According to Wikipedia, A myth is something widely believed but false. Helping to destroy the many shopping myths by bringing you facts, research and successful examples is the goal of this writing.

Today you'll learn 8 myths many people believe and do each day that quietly drain their wallets. I say quietly drain because most of the damage done through bad shopping habits happens quietly. And bad habits have a way of causing damage so easily and effortlessly it can often go unnoticed until something breaks down.

Here are the 8 habits that quietly drain people's wallets. How many do you notice in yourself?

This is a myth born out of the days when people had large families. Today with families shrinking in size, marrying later or never and seniors who live alone, buying in bulk isn't always best. The key is will you use the items, especially if they're perishable. Many people throw away whatever saving they tried to get because the items spoiled or they were taking up space in the closet or garage.

This is often the first reaction of most consumers. Shop for the cheapest price and you can't go wrong. Right? Wrong. The cheapest price isn't always the best price if the item breaks down when you need it the most. It's not the cheapest if you have to replace over and over again because of cheap materials or craftsmanship. And it's not the cheapest if it endangers you or your families safety or peace of mind.

This is what people say who overpay for goods and services. This is a myth that drains more wallets than most of the myths listed here. Enormous amounts of products and services sell each year that's overpriced because the buyers refused to comparison shop, bargain or negotiate. The result is almost always paying more.

This is the credo of the lazy minded shopper. I once thought only rich people had this attitude until I researched, interviewed and studied them. I found the reason many people were rich is because they took the opposite view. They did their own research before ever talking to a salesperson (or hired someone to do it).

It's surprising, but there's many people who still believe this. Those are probably the same people who believe in Santa Clause and the Tooth Fairy also, but that's another story. This is not to knock sales people; I've sold many products and service myself. But to think sales people always have your best interest in mind is asking to have your wallet drained.

This statement is like music to a sales persons ear, especially if they sell big-ticket products like homes or cars. When you say that to a car salesman they hear Cha Ching ringing in their ears. Why? Because they know they can sell, add on and pack the deal to the hilt, as long as they can fit it into a small monthly payment.

This is a statement most over extended credit card users make. That's the person who sees something, buys it, then figures out how they'll pay for it later. It's hard for the person who has the - I want it now attitude to save.

The person who goes shopping when emotionally upset is like a person who drinks a six pack and goes for a drive. This person is not fit to drive or shop with a credit card. I call this person a recreational shopper - A person who spends money to feel good or for entertainment. Good for retailers bad for your wallet. If you must go shopping under these emotional conditions at least leave your credit cards at home.

Now that you've read the 8 habits that drain quietly drain peoples wallets how many did you notice in yourself? Make a commitment to work on the bad habit -or habits you've discovered. Action is the best way to stop your bad shopping habits from draining your money.

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