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Curb spending habit tip #3: Beware of flea markets

05/24/07

Posted under Money Myth Busters, shopping, spending habits

DivisoriaAhh… Divisoria. Where brave men dare not tread. But get a couple of mommies together, throw in some single ladies looking for a good bargain, and you are good to go.

A lot of people think going to flea markets saves quite a bundle of money. In December 2006, when the economy was scraping the bottom, Agence France-Presse reported that Filipinos flocked to places like Divisoria, Baclaran, Quiapo and other bargain shopping areas instead of glitzy shopping malls. For many, it was the worst Christmas in years.

And these are not just the masa you are talking about. There are a lot of Divisoria divas in the rich mommy club. Take Melanie Marquez-Lawyer and Tessa Prieto-Valdes, for example.

I make it a point to go to Divisoria at least once a year. Believe it or not, to me it’s more of a therapy, hehe. But to get the most benefit from flea markets, you need a strategy. You need a plan. Saving buckets of cash will not happen just because you find yourself sweaty on Ilaya street. In fact, if you are not careful, you’ll end up losing a lot of money!

First, compute the value of time and gas you spend going to these flea markets. It will take you at least three to four hours to navigate through the streets. What is the cost of three hours to many of us? That doesn’t count gas.

Second, five mommies I interviewed said they ended up buying bargain items they did not need. One said up to 50% of the things she bought were not immediate needs – they were just good bargains she couldn’t pass up. Until now, bolts of good quality cloth bought at 70% discount are still taking up space in her closet. Bargain or no bargain, they are unnecessary expenses if they are of no use.

This doesn’t mean nobody can make or save money going to flea markets. Just be aware of the pitfalls. At the least bring a list of things to buy – and stick to it! There was a time I balked at making a shopping list. It sounded too OC for me. Many overspending months after, I decided that taking the time to write a shopping list is worth the effort.

(Email me at lightdream@gmail.com if you want to submit your own tip.)

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21 Responses to “Curb spending habit tip #3: Beware of flea markets”

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  1. 11
    Nina Says:

    femaad, ganun yata talaga mga babae, sabi nga nila imeldific (tama ba spelling?) ;) I love shoes and I am very emotional with my shoes - even if it’s really old I can’t give it away!!! :)

  2. 10
    Nina Says:

    hehehe :) ako kasi I buy in bulk for gifts. minsan i shop with my friend, not necessarily for ourselves, pang regalo din.
    I tried buy and sell before - stationeries, wallets, christmas wrappers ;)

  3. 9
    JP Says:

    Salve

    Tama ka diyan. Monopoly is one of the perfect game for people to play if they want to learn about money. Sana yun Parker Brothers mag labas sila ng Pinoy version gn Monopoly. That would make my day.

  4. 8
    Salve Says:

    JP, i love monopoly too. its a good game for PF enthusiasts, dont you think? :-)

  5. 7
    Salve Says:

    femaad, 45 pairs of shoes!! 10 suits! omygosh hehe. good luck on your garage sale =). be sure to advertise it well.

Pages: « 5 4 [3] 2 1 » Show All

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