7 PITFALLS TO WATCH OUT FOR

Discounts can save you a lot of money if they are used carefully, but there are some common mistakes that could mean they end up costing you more.

1. They can tempt you into buying things you wouldn’t have bought otherwise – so cost you money rather than saving it. If you think this is a risk, think twice before signing up to discount clubs and newsletters, because they’ll just offer more chances to spend.

2. They may persuade you to trade up to a far more expensive brand or model in order to get the discount. This can end up more expensive than the item you were going for in the first place.

3. If there’s a spending threshold – say you get £5 off when you spend £40 – it can make you spend more to hit it. 4. They can be so convincing you forget to check the original price on other websites or shops. There’s a risk you could get it cheaper elsewhere.

5.Short expiry dates can make you rush into purchases you don’t need.

6. They can trap you in a shop for longer. If you’re using various vouchers and coupons in the supermarket, for instance, it can take longer to find everything.

The longer we’re exposed to the tempation of supermarket shelves, the higher our average spend. The best idea is to stick to your list, and do a trolley dash.

7. Getting a bargain can give you a rush of endorphins, which can encourage you to keep shopping – undoing the benefits of the discount.

Don’t be tempted into overspending