1. Shops overcharge on a small luxury item because they know you have no idea how much it should cost.
Most people just look at the price of an object. They don't make the connection and think if the object is worth the buck. For instance, you may think P3,000 is cheap for a cellphone because you can afford it. But is it of good quality? Is it even a new phone or an old model? Or a secondhand? It would help to know details like the original price, tax, how long the product has been around so you can gauge how much it should be worth.
2. Shops give you two discount deals, and you have no idea which will save you your money.
Thirty-three percent discount on extra coffee or 33 percent off the regular price for coffee—which is the better deal for you? It's the second one, in case you guessed wrong. You get more for less!
Shops know that when you get something extra "for free" instead of getting a discount on regular price makes you feel so much better. It's a psychological thing. The same way buying a big bag of chips, never mind the amount of chips it actually has, for cheap makes us feel good.
3. Brands put buzzwords like "all natural" or "gluten-free" on their product and charge more because they're supposedly healthy for you, unlike other food out there.
At this point, there's no definition yet of what "natural" is on food products. Because more often than not, they've been processed in one way or another. So be sure to doubt the word when you see it printed.
But sometimes those labels are true. There are overpriced gourmet potato chips labeled "gluten-free." Well, that's true because potatoes don't have gluten in the first place. But the label's just there to make the product seem healthy for people to consume more of it, even if it costs a lot.
4. Some shops display an array of different brands of the same thing that are also priced differently.
The logic behind this is that you don't want to look cheap by buying the cheapest option even if the thing has decent quality. Hence you spend more by choosing the more expensive product.
5. Shops tell you what to buy.
When you see huge product shots around the store or the item the model is wearing, you can bet that those things are relatively pricier than the others. If you're lazy to inch your way through the racks and just want what's photographed, you might end up spending more.
6. You're talked into subscriptions or memberships.
If you don't need them, don't get them or else you'll be paying more than you should or like to. We usually take the subscriptions or memberships offered to us because we don't like the feeling of paying and seeing our money slip from us every time we go to the gym. It's really a psychological trap for those who don't need the membership.
7. You're given rebates.
Rebates are a kind of refund. After spending a particular amount, you may get a return through money or goods. Credit cards usually have promos that offer rebates, and while that seems great because you feel like you're getting something more after paying or you're getting paid to spend, usually the small token or prize isn't worth all the money and trouble you spent.