Installment Loans

From $200 - $2,000*
Simple and Fast

How Brand Loyalty Could Cost You More

July 6, 2018 | By Louis Tully

 

We all have our go-to store where we prefer to do most of our shopping. We even favor certain brands over others. But the question is; is brand loyalty actually costing you more money? There’s no sense in sticking to a particular store if their prices are leaving you in need of installment loans before every payday. See how brand loyalty could be costing you more and what steps you can take to keep more money in your pockets, not theirs.

Compare Prices

There’s probably a good reason why you choose one brand over the others. Some people prefer the look and feel of Target stores while others like the convenience of Walmart. Whatever your reason for choosing one name over the other, consider what your brand loyalty may be doing to your wallet. If you’re struggling to make ends meet, it may be time to do your shopping somewhere else.

Take a Good Look at Your Store Card

Store credit cards - the cashier at the register talked you into applying for one. She said it would save you 20% on your first purchase. Now, you’re probably paying extra on every other purchase after it. If you’re using a store credit card, you might want to take a look at its APR. The interest you’re being charged every month may surprise you. If your favorite store is charging you an arm and a leg to shop there, it may be time to find a new place to get your shopping done.

Stick to What Works

As far as brands of the items that you’re buying goes, just stick with what works for you. You don’t have to go for the popular brand (which typically costs more) just because it’s plastered all over the commercials on TV. Usually, it pays to go with the generic brand because you’re getting the same item at a price that won’t bust your budget.

Go Shopping With an Open Mind

If you’re trying to save money, shop with an open mind. You may never have wanted to step foot inside a Walmart or that no-name market a few miles down the road, but now’s the time to step outside your comfort zone and push yourself to shopping at new places. Your grand total at these other stores could be a lot less than what you were paying at your preferred place to shop. At the end of the day, it doesn’t matter where you picked up your groceries. What matters is the money you saved on them.

Bottom line - look out for your budget, not the type of brand you’re getting or where you’re getting it from. While brand loyalty can have its rewards, it’s impossible to save money if you refuse to broaden your buying options. Forget brand loyalty and follow the sales - your wallet will thank you!