Elson Goh: Bargain Hunters Become the Hunted

Wednesday, February 24, 2021 1:36 pm
Reading Time: < 1 minute

We all love a bargain! But a rise of targeted advertising, year round sales and mixed with easy access to means of payment, we may have become the hunted.

EG Financial Director Elson Goh, dropped in for a chat on the Weekdays show with Mike.

Elson had an admission to make to the family….He ‘impulsed bought’ a 2nd Air Fryer (and 3 weeks on it’s still in the box)!

Mike was (jokingly) shocked! Our financial guru was indeed human!

Elson: “Most people feel a positive boost when they grab a bargain and can admit to impulse buying on at least one occasion.”

Access to Online Shopping and our Social Media feeds heavily infiltrated with targeted advertising, there is increased temptation to Impulse Buy .

We’re also hit with more and more sales throughout the year! Gone is the time where we used to hang out for the big Boxing Day Sale!

Elson’s tips to manage Impulse Buying:

  • Choose one sale a year.
  • Set a threshold and ask for permission from your family
  • Use money in your bank account (NO CREDIT)
  • Wait 90 days! If you think you still need, get it!
  • Avoid get now pay later schemes.

Listen to the whole conversation below

Skip to toolbar