The Daily Dinar

Yahoo! Finance list five ways in which people often think they are saving money but are, in fact, actually losing money.

1. Buying gas at the least expensive gas station. This only makes sense if you are going past the gas station anyway and don’t need to go out of your way to reach it. It’s possible that the cost of travelling there will exceed the savings to be made.

2. Going to different stores to get sale items. They warn that the cost of travel between stores (and possible parking costs) can often exceed the savings.

3. Buying the cheapest. The cheapest doesn’t necessarily always mean the best value.

4. Purchasing items on sale. This only makes sense when the item was something you were going to purchase regardless of it being on sale. If you are just buying something because it is on sale and never intended to buy it otherwise, then you’ve probably wasted some money.

5. Buying in bulk. This only makes sense if you can consume or use all of the goods before they go bad. There is no point buying bulk if you end up discarding some of the product.