Reasons to be price-conscious when spending money.

[Axis]

Being price conscious or concern can be an interesting way to prevent irrelevant and irresponsible spending of money. Reason is because being price conscious and concern about a particular product or service can help you analyse and research whether indeed what the product or service seller issues to you as the price of such goods or services is really the exact market price. For example, assuming the price of a bag of sugar cubes was always sold for $12, but on getting to the grocery store today, you find out that the price have been increased to $20. Possible after a lot time spent to bargain on the price, the grocery store owner can only sell the bag of sugar cubes for the designated price which is $20 and nothing more or less. However, as a price conscious and concern individual, it is absolutely expected for you never to take the grocery store price of sugar cubes for its, you have to do your findings to be fully aware and informed whether indeed the price of one bag of sugar cubes is really sold for $20.

You could try check out another grocery store, to see what's the price of a bag of sugar cubes is sold. Many business owners stipulate and impose unnecessary exorbitant prices on their goods and services, so as to make more profit. Unfortunately you could come to see that, the previous grocery store was trying to make extra profit by unnecessary increasing their price of a bag of sugar cubes, and that one bag of sugar cubes is still sold for $12 or more, but definitely not more than $20.

 

[Abigael]

That is a very good illustration of why it is so important to be conscious about how you spend money. It is a very important quality that keeps you financially secure. Some of its benefits include;

1. You spend your money well, so you never go broke.

Being broke is one of the biggest issue anyone can face in life. This is prevented by frugal living. You are careful about each of your cent and so you never run out of it.

2. You spend your money on important things.

It is a shame if you lack money for rent because you spent it on unnecessary items like a car, jewelry or designer clothes. Frugal living helps you avoid that because you will prioritize your needs over wants.

3. You will save more money.

We all know how saving is important and it is promoted by proper spending of money. You spend less hence you save more.