5 wallet killing expenses - NBC12.com - Richmond, VA News

5 wallet killing expenses

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There are a few things that could be draining your wallet without you realizing it.

Wallet killer number one is doing your bargain hunting on the web using the same internet browser. Some Companies, like airlines for example, use past shopping history and purchases to come up with a price.

Sometimes that can hurt you.

"Now there's a history of how sensitive or insensitive we are to price changes," explained UAB Marketing Professor Bob Robicheaux.

He says there's a quick fix for that. Empty out your browser history, by deleting the cookies file.

"If you're shopping anonymously, they're going to give you their best deal," added Robicheaux.

Another item that can have hidden expenses is a redesigned product. We see the phrase all the time: 'New look same great product.' But Robicheaux says beware; sometime it's not just to be more eye catching.

"Manufacturers will change the rate of flow that the product comes out of the container," he said.

If you don't pay attention, you could find yourself buying everyday goods more often.

"The easier it is for that liquid to flow out, the faster you're going to consume that product and you're basically wasting it," he explained.

Wallet killer number three is heading for the sales tables without doing your research. Robicheaux says retailers design store layouts so that you that shoppers are forced to encounter featured items.

"People are very susceptible to impulse buying. If you see something that looks like a good deal, you might pick it up," he said.

Wallet killer number four is buying that extra item for a perk. Robicheaux says the free shipping incentive is one common example.

"If it's something you're just throwing in the basket to qualify to save $5, then you're probably losing money and you're buying something that is an unnecessary purchase," he said.

Wallet killer number five is dining out for lunch. Even just doing it twice a week at $15 a meal, can add up to more $750 a year. Luckily there's a quick fix for this one too: pack your lunch from home.

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