Your Finance Travel Buddy presents One Simple Step

Happy Sunday fellow Financial Freedom Seeker

Mindset Moment

One Simple Step

Last week I touched on how people can spend on Christmas activities due to the psychological impact of their being available for a limited time only. The same is true of sales – hello Black Friday 👋🏻

Your One Simple Step this week is…

To utilise software tools that track prices on websites like Amazon

What does this mean?

There are software tools that enable you to track prices on websites like Amazon and look at how these have changed over a period of time. Examples of this include Keepa and CamelCamelCamel. 

Why is this important?

On occasion, ecommerce retailers artificially increase their prices right before a sale so they can then advertise that their prices have reduced for the sale and use the tactic of their being low for a limited time to increase the number of sales they make. 

Software solutions like Keepa and CamelCamelCamel enable you to look at the historical pricing of specific products you’re interested in so you can see if their sales price is a genuinely low price or if it is often sold for that price. 

This helps you counteract the psychological games retailers play with you by looking at factual numbers and trends through these software solutions.

How do I implement this?

1. Keepa and CamelCamelCamel are browser extensions you can sign up for (for free) and utilise

💡Top tip: here is a reel from Amazon Prime day demonstrating how Keepa works

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Have a fabulous week ahead!

Until next week

Pernia | Your Finance Travel Buddy