In the film The Usual Suspects, the greatest trick the Devil, or Keyser Soze, ever pulled was convincing you that he didn’t exist.
The greatest trick the dollar store ever pulled was subtly overcharging you for low-quality and cheap items. And then, convincing you that you snagged a serious bargain.
Most items sold in dollar stores are of low quality, cheaply made, or deceptively packaged.
For example, smaller “fun-size,” or, “travel size,” items are repackaged as higher priced “discount,” packs. You’re paying more for these repackaged items relative to similar items at the supermarket.
Ever buy food or canned food at the dollar store? You’re probably buying low-quality food way past its freshness date. And, it’s probably still cheaper at the supermarket anyway.
Not convinced? Here are two items you should never buy at the dollar store.
Chewing Gum
It’s very likely that every time you reach for the $1 four-pack of gum in the dollar store, you’re getting ripped off.
You’re not getting ripped off by much – maybe by a few pennies at a time. But it seriously adds up over time.
Let’s consider a 5-stick packet of Wrigley Doublemint gum, for example. In most dollar stores, you can buy a four-pack of Doublemint gum for $1.
It’s the 21st century. There are just too options to save with comparison shopping. And if you visit bulk product retail stores, you have no business buying gum in the dollar store.
You can buy 200 pieces of Doublemint gum on Amazon in a 40-pack package. It costs about $7.48, or about 4 cents per stick of gum.
Look at it this way – imagine buying that 4-pack of gum with 20 pieces for $1 at the dollar store in 10 visits.
You just spent $10 for 200 pieces of gum. If you think saving $2.52 in this economic environment isn’t a lot of money, you’re really not paying proper attention.
Consider that in 20 visits, you’ve overpaid for 400 pieces of gum by $5. You lose more money exponentially the more you buy that $1 4-pack of gum.
Batteries
The dollar store’s greatest Keyser Soze-like scheme is convincing you that those $1 batteries are a bargain.
Ever notice that that $1 and $2 batteries you buy at the dollar store are usually off-brand names like Panasonic or Sunbeam? Or, some other battery brand you never heard of?
Carbon-zinc batteries are delicate. They are easily damaged and can explode or leak if punctured or overheated.
Carbon-zinc batteries don’t provide as much energy relative to alkaline batteries. They are only optimal for use in low energy drain devices like remote controls or clock radios.
If you’re using carbon-zinc batteries in high energy drain devices, you won’t get much energy. Then, you’ll have to buy more cheap, low energy batteries often to power high energy devices that drain them faster.
That adds up over time.
You’re better buying alkaline batteries for a few extra bucks. Or, just buy rechargeable alkaline batteries.
Pick and Choose
I am not judging you. I have spent many years buying overpriced crap at the dollar store myself.
There are some items worth buying at the dollar store, like writing stationary, school supplies, greeting cards, plates and drinking glasses.
I sometimes buy paper towels or those off-brand Tupperware ripoffs there after comparison shopping at the supermarket.
Still, most of the items you’ll buy at the dollar store won’t be worth what you pay for it.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.