Sometimes in life, there are things that seem like a great deal at first glance, but later turn out to be just the opposite. These deceptive delights can lure us in with their apparent benefits, but then leave us wondering what we were thinking. Here are five things you might think are a killer deal but usually aren’t.
1. Extended warranties: the hidden money pit
At first, an extended warranty seems like a great way to protect your new gadget or appliance and save money on expensive repairs. Because who wouldn’t want extra coverage for their big-ticket purchase? But most extended warranties are riddled with exclusions and fine print; they often make it difficult to actually get repairs or replacements. Plus, a lot of products don’t break down within the warranty period (they wait ‘til just after), so you end up paying extra for coverage you never get to use.
Why it’s not so great: Extended warranties are often overpriced and unnecessary, especially when the product already comes with a manufacturer’s warranty. A better approach is to set aside money for repairs or replacements in an emergency fund.
2. Cheap flights: the true cost of budget airlines
Finding a super cheap flight can feel like hitting the jackpot. But flying with budget airlines can be more trouble than it’s worth. Getting nickeled and dimed with extra fees for luggage, seat selection, and even printing boarding passes can add up fast. And the cramped seats, limited legroom, and frequent delays of these airlines can make your travel experience kind of miserable. Sometimes these budget airlines even go out of business, and if that happens while you’re on a trip you might not be able to get home!
Why it’s not so great: What starts as a bargain can turn into an expensive yet still uncomfortable travel ordeal. For example, if you fly with an airline like Frontier, the ticket price may be really cheap. But if you need to check a suitcase you’re looking at another $39-$60! Sometimes, spending a little more up front to book your travel with a better airline saves you money and stress.
3. Airbnb: watch out for those fees
Airbnb or VRBO can look like an amazing deal at first. They’ve got cool homes, right in the location you want, and usually the nightly rate looks way cheaper than a hotel. BUT… often, once you get ready to actually book the trip, you’ll see a bunch of fees (including cleaning fees that can be extremely high) and once you add those in, it might not be the great deal it looked like at first.
Why it’s not so great: High fees can quickly boost the basic rate into a cost bracket that opens up a lot of options in terms of regular hotels.
Pro tip: Before you book, always compare Airbnb prices to local hotels and other companies like VRBO.
4. Free trials: the subscription trap
Who doesn’t love free stuff? Free trials offer a chance to try out a service without paying. However, they often come with a catch. Companies hope you’ll forget to cancel before the trial period ends, leading to automatic charges on your credit card. Canceling can also be a hassle, with confusing processes designed to keep you subscribed.
The harsh reality: Free trials can easily turn into unwanted subscriptions and unexpected expenses. Always set a reminder to cancel before the trial ends or think twice before signing up.
5. Overly cheap furniture: the disposable decor dilemma
Buying inexpensive furniture can seem like a great way to furnish your home on a budget. However, cheap furniture often means poor quality, leading to wobbly tables, sagging couches, and broken drawers. You might find yourself replacing these items sooner than expected, ultimately spending more than if you had invested in better quality pieces.
Thinking about how you’ll use it and how often can be a good way to decide which furniture to spend more on. For example, a nightstand in a guest room won’t be used very much, so buying a very inexpensive one probably makes sense. But for a couch that you’ll sit on every day, it’s probably worth spending a little more for something that’s comfortable and durable.
