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Topic : Personal Budgeting......
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Started by : Rashmi Patil, Financial services   11 13 2010 07:39:52 +0000
Industry : BankingFunctional Area : Personal Finance(Personal Interests)
Activity:  73 views;  last activity : 02 26 2011 08:33:01 +0000

You can save a lot by buying cheaper alternatives.Especially in these tough economic times, you don't want to tear through your hard-earned cash.

So, frnds what are the things we usually overpay for??

 
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1 2 3 4 5
1 things with Emotional touch
2 Movies
3 Electronics Gadgets like Mobile Phones and FP TVs
4 Movies
5 Airport and Flight Food, Cable TV and Road Toll
6 Cheap is identified with poor Quality
7 VANITY PRODUCTS
8 Kid Products
9 do not know the worth
10 we pay more for reliablity,quality,durability,technology,brands,new things.rare things.wives.
11 for fashion
12 We pay more for emotional touch
13 Things with Urgency
14 Vijay

things with Emotional touch

idea posted by Vivek Kumar Srivastava Competence development Manager-Global Services , NSN
we pay more for all those things which make a emotional touch
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by Tanima , First Medical Services Pvt. Ltd.  | 02 21 2011 10:40:55 +0000

I also agree with this ides because we never think for money when we spend this money for our loved ones.

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We overpay for emotional touch, otherwise we overpay out of necessity or with no other choice

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by Ravi Patel, xxx, xxx  | 01 05 2011 07:29:33 +0000

As far as my view concern, we mostly pay for those things that makes feel of admiration from others.

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idea posted by Rashmi Patil Financial services

People usually overpay for movies. In theatres people pay nearly 100% - 150% more than what they can get from local libraies.

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Certainly, because we can enjoy it on home theater & current movies are like use & throw . There are only some exception to be included it into classic movies.

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Electronics Gadgets like Mobile Phones and FP TVs

idea posted by G A Narayan VP - Marketing, KE Housing P. Ltd.

Yes. Most mobiles are not worth the cost. We pay for the Brand Name. Take Sony or LG for instance. Their mobiles sucks but we still pay a few thousands more for it fully knowing it. I have burnt my fingers with these products (multiple buys) and now I am wiser. Shall never buy any LG or Sony product. Also beware, the launch price for these and all electronic products are very high (at least by 100%) and after 3 to 4 months the price is reduced and the advertisement carried states 50% off on xyz model.

 

Take FP TVs (LCD, LED and Plasma). There is a huge consumer cheating game with all the jargons and wordplay in the called technical specification. Contrast Ratio has given way to Dynamic Contrast Ratio which actually is an absolute crap and was introduced to cheat the buyer. One cannot get the actual viewing experience in a showroom (as in one's living room) and gets awed by the large showroom ambiance (lighting, sound, etc.). Especially the sound part of the product. The echo and other dynamics at ones home is very different from that of the showroom and one gets carried away by the sound that he hears in the showroom. And the dealer pushes the product that he wants to by degrading the other products displayed. 

 

And beware of 2 door fridge. It works only for 3 to 5 years.

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by Namrata Pathak, Accounts Manager, American Express  | 11 16 2010 07:44:28 +0000

Gadgets have become the next best frnds & people are pouring in money to get the best of the best.

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idea posted by Gayathri Subramaniam Manager - Credit Management, Corporate Banking, AXIS Bank
Hardly any movie nowadays is worth watching. Moreover, tickets are too overpriced...in some centers, food is compulsorily made available and the charges are included in the price of the ticket...People may end up paying for something they dont want
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Airport and Flight Food, Cable TV and Road Toll

idea posted by Biswajit Sarma Project Manager - Construction of Raddison 5 Star Hotel, DS Group
Food available at Airport and Aircrafts are very costly for general public. Dish TV, Air-tel, Big TV and similar DTH operators are also costly in comparison to general Cable services. Further why should we pay additional Road taxes ? Road Tax is already collected during registrations of a vehicle and also we are also paying taxes in various forms.
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Cheap is identified with poor Quality

idea posted by kanukurthy sudershanrao Operations Manager, Andhra Bank
Generally any thing available at cheap rates is also considered to be of poor quality so generally people buy things at a higher rate where they have confidence of Quality
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VANITY PRODUCTS

idea posted by ANIL VARGHESE MBA/PGDM student, Amity Business School, Noida
For the things we are unsure or have no prior knowledge
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Kid Products

idea posted by Niraj S Kakkad Manager - Investments

The concept in marketing is called "cuddling the tough nut", maximum mark up on rates is found on child products from their clothes to creams, toys to books everything is sold at a premium and the parents are bound to pay as to negotiate or question the pricing for the child's products type castes the parent as a miser, he is considered a parent who  does not care enough for the child.

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do not know the worth

idea posted by sandesh saboo Research Associate/Analyst, saboo associates
generally we pay what we feel is the worth of the thing and how much our pocket permits.when you are in a competition,you are in a auction.some time the personover charges,when you have not negotiated the price in the begning,when you are with doctors,lawyers.you do not know how to ask clearly what you are suppose to pay.you do not know how much is the worth.
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we pay more for reliablity,quality,durability,technology,brands,new things.rare things.wives.

idea posted by sandesh saboo Research Associate/Analyst, saboo associates
we are found to pay more for things like reliability,quality,durability,technology,brands,new things ,rare things and wives.
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by G A Narayan, VP - Marketing, KE Housing P. Ltd.  | 11 15 2010 11:08:57 +0000

Yes, I agree. As far as quality is concerned we pay more, but it is not wise at times. For example If a great quality product sells for Rs. 1 lakhs and works for 5 years and a not so good quality product sells for Rs. 50 thousand only but works for 2.5 years, then it is wiser to buy the "not so good" quality product at Rs. 50,000 because after 2.5 years one can throw away the product and go in for newer and better model of the same "Not so good" quality product.

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for fashion

idea posted by Rekha Mahajan Cust. Service Executive, Spanco
i think we r mad abt fashion these days n ready to spend for dis
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We pay more for emotional touch

idea posted by JAYAKRISHNARAJ.AJD Network Admin/System Admin, CUDDALORE DISTRICT CENTRAL COOPERATIVE BANK
We are sentimentally attached with things by colors,brand names in which most of times we are get cheated. It is important to make brand comparison using net and technocrats for best buying options.
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Things with Urgency

idea posted by Shyam Kumar Singh Branch Operations Manager/ DBM, ICICI Bank
Well I believe things with sense of urgency are overpaid most of the time. Price paid for movies are worth as millions of bucks were spend to create it and we can see and admire it with just few bucks. Things urged with emotions some times appeals at higher price but now a days with plethora of options for customer its seems less significant.
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idea posted by vijay kumar prajapat Team Leader -(Technical), om infotech
Fashion is the thing for which u can let everything else
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