Discounts on ECommerce Platforms
In India, the festival season has started and along with that, there are too many discounts going on mainly on the ECommerce platforms. These discounts are actually good for those who buy big during the festival season but again these discounts do not mean that you will get the products for free. You still have to pay a hefty amount to buy those products.
People usually see the discounts and buy heavily on the credit card or using BNPY (buy now pay later). And this is I feel very bad for your financial health. People usually buy unnecessary items in this discount season and then have to pay EMIs later which actually becomes a problem in their monthly budget. I am not saying that we should not buy products at a discount, but we should buy only which is absolutely necessary. Buying the newest model phone or Refrigerator every 2 years is not a good idea.
Like nowadays people are obsessed with buying iPhone 14, I see every day some or other friends are buying that which is basically a one or two-month salary for many but still they want to stay in the trend by buying the latest phone. I usually change my phone after 3 years or even when it becomes 4 years old. This way I try to keep my financial budget in check. If I want I can buy the latest model every year but I feel that is just a waste of money and nothing else.
Discounts are not going to stop and today or tomorrow you will get the discounts, what we have to think are we wasting the money in buying that product which we actually will not use much? Like clothes, people buy a lot of clothes every year but they wear them around 3-4 times and this discount shows them that they can buy more and then the cycle continues.
Posted Using LeoFinance Beta