Companies. A company’s job is to turn a profit, they spend billions on marketing, advertising & training staff to sell, sell, sell! It’s not there to look after you, it’s not your friend
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Sweets and magazines placed by the till.
These are impulse buys, so putting them near the till gives them one last attempt to grab our cash.
Store layouts make us walk the whole distance.
Regularly bought items tend to be spread around the store, so we need to pass many other tempting goodies to complete our shopping.
Same goods, different prices, depending where in the store you are.
Supermarkets charge as much as possible and differentiate prices around the store. For example, if you're buying snacks such as nuts or dried fruit, they're much more expensive in the snack area than in world food or baking.
Eye level products are the profitable ones.
The most profitable stock is placed at eye level (or children’s eye level if it's targeted at them), yet profitable goods tend not to be the best deals. The age old adage ‘look high and low for something’ really does apply.
Debit cards that fine you every time you spend abroad: Use your debit card abroad and banks with levy a stealth charge each time – around £1.50. So use it 30 times on holiday and that’s around £45.Counter-manoeuvre:Simply avoid these cards if you can. If not, better to take out a lump sum from the ATM and spend that instead.
Cash withdrawal fees on credit cards: Withdraw cash on a credit card and you’ll pay heavily for it. Counter manoeuvre: Never withdraw cash on a credit card. This is because even if the ATM itself doesn't charge the credit card will - a £2 or 2% fee plus interest.
Student Account incentives: Banks offer attractive ‘free’ gifts when you open a Student Account. Such as Laptops & Railcards
Counter-manoeuvre: Always shop around and read the fine print. A free Young Persons Railcard should not be the only reason you open a Student Account with a bank.
You are more likely to get divorced than to change your bank in your lifetime! This is why banks try very hard to attract students when they are young!
Counter-manoeuvre: Every few years, shop around and look for banks that offer you better interest rates on your savings and better services!
Cross-selling:Banks love to cross-sell. If you have a current account, it’ll bombard you with information about all its other products and badger you to get its loans, savings, ISAs, the whole caboodle. Counter-manoeuvre:Never assume one company is cheapest for all products. Search out the cheapest provider for each type of product.
Students (that’s you!) some counter manoeuvres:
Satisfactory QualityAs DescribedFit for purposeAnd last a Reasonable length ofTime
Case Study: University of Birmingham some counter manoeuvres: