Today, we take a look at "Spaving" - A Sneaky Spending Trap.
We’ve all been there. You’re just about to check out online when you see it—"Spend $10 more and get free shipping!" So, you throw in an extra item, feeling like you’ve scored a deal. But did you really? Welcome to the world of spaving—spending more money to save money—and trust me, it’s a financial trap that’s easier to fall into than you might think.
Spaving is what happens when we convince ourselves that spending more is actually saving. It’s a trick retailers love to use because, well, it works. That tempting “Buy One, Get One Free” (BOGO) deal? Classic spaving. Those tiered discounts where you save 50%—but only if you spend $150? Yep, spaving again. While these deals might seem like a win, they often lead to unnecessary spending, filling our homes with things we don’t need and emptying our wallets in the process.
The Most Common Spaving Traps
Retailers are masters at making us think we’re getting a bargain. Here are three of the biggest traps to watch out for:
1. BOGO Deals
The “Buy One, Get One Free” or “Buy Two, Get 50% Off” promotions sound great, but do you actually need the second item? If you went in planning to buy just one and now you’re leaving with two (and spending more), then the deal wasn’t really a deal for you—just for the store.
2. Free Shipping Thresholds
We’ve all been nudged into spending more just to dodge a shipping fee. But let’s break it down: If your cart totals $40 and shipping is $10, you might be tempted to spend an extra $20 to hit the “free shipping” minimum. Now, instead of a $50 total ($40 + $10 shipping), you’ve spent $60. That’s not savings—it’s just spending more.
3. Spend More, Save More
Retailers love dangling discounts in front of us: "Spend $75 and get 25% off!" But if you were originally planning to spend $40, stretching to $75 just to get a discount means you’re out an extra $35 you didn’t intend to spend. That’s not budgeting—it’s falling for a marketing trick.
Spaving can be hard to resist, but a few simple strategies can keep your spending in check:
1. Stick to a Budget
Before you shop, know how much you can spend—and actually stick to it. A budget helps you separate “need” from “want” so you don’t get sucked into spending traps.
2. Make a List (And Follow It!)
Impulse buys thrive when you don’t have a plan. Whether you’re grocery shopping or browsing online, making a list can help you avoid getting lured into deals you don’t need.
3. Implement a 24-Hour Rule
Before making a non-essential purchase, wait a day. Often, the urgency fades, and you realize you didn’t really need that “extra” purchase after all.
At the end of the day, spaving isn’t actually saving—it’s just clever marketing. Sure, there are times when buying in bulk or taking advantage of discounts makes sense, especially for essentials. But the key is being mindful and making sure your purchases align with your financial goals. Next time you’re tempted by a deal that seems too good to pass up, take a step back and ask yourself: “Is this really saving me money, or am I just spending more?”
Chances are, it’s the latter. And now, you’re too smart to fall for it.