Where to Stop Overspending Everyday

Everyday Retail Ripoffs and How to Avoid Them

With times tight, everyone is looking for ways to save money. One way to do that is by making sure you get the most bang out of every hard-earned buck you spend.
Ken & Daria Dolan, popular personal finance experts, reveal 10 retail rip-offs that give you less than your money's worth. Their tips aren't about scrimping or cutting out life's little luxuries ... instead, they show you some places where you are paying big price markups and may not realize it.

Everyday Retail Ripoffs and How to Avoid Them

Pre-cut fruits and vegetables didn't even exist 10 years ago, but we spent more than $600 million on prepared salads alone last year. While grabbing pre-cut fruit and vegetables can help cut down on your time in the kitchen, that small convenience carries a big price. It's safe to say you are paying at least double the cost for pre-cut produce vs. buying their whole counterparts. Another negative -- you aren't getting all the vitamins you think. Tests have shown that pre-cut vegetables, for example, start losing their Vitamin C once they are cut!

Everyday Retail Ripoffs and How to Avoid Them

Coffee markup is insane. And we're not just talking about the fancy "mocha grande latte with soy" kind of coffee. A plain ol' cup of joe can carry an absurd markup. A plain cup of coffee at Dunkin Donuts costs $1.75. You'll pay at least that much for a much smaller cup at most restaurants. Consider that a plain cup at home will cost you about $0.55. We're not telling you not to enjoy that occasional coffee run. But just one cup of coffee a day at home rather than buying it out could save you $438 a year.

Everyday Retail Ripoffs and How to Avoid Them

You don't need us to tell you that the price of popcorn at the movie theater amounts to highway robbery. But it might be even worse than you thought. According to a professor at the University of California-Irvine, you're paying a 1,300% markup on that tub of buttery popcorn! When you do the math, $5.50 for that bucket of popcorn makes an ounce of popcorn more expensive than filet mignon!

Everyday Retail Ripoffs and How to Avoid Them

Here's a great inside tip that we got from a store manager: you'll pay more for items at eye level on the grocery store shelves. Products with the highest markups get that prime shelf space because the grocery store gets a share of those fat profits. Less profitable products get high and low shelf space at the grocery store, so that's where you are likely to find the best bargains

Everyday Retail Ripoffs and How to Avoid Them

You'll pay 30-50% more for organic produce -- sometimes more if something is not in season. Now, that may be completely worth it to you, but if you are looking for ways to save, here are a few ideas. First, shop at your local farmers' markets and look for farmers growing organically. They likely won't be charging big markups at the farmers' market. Next, consider not buying organic when you are shopping for types of produce that use very little pesticide. These have the lowest levels (starting with the lowest): onion, avocado, sweet corn (frozen), pineapples, mango, asparagus, sweet peas (frozen), kiwi and bananas.

Everyday Retail Ripoffs and How to Avoid Them

French fries are a big profit maker for restaurants. A 10 ounce potato makes about 90 french fries (that's about the serving size for large fries at a fast food restaurant). That potato costs about 30 cents, but brings the restaurant about $1.75.

Everyday Retail Ripoffs and How to Avoid Them

Restaurants charge 100-200% more than what you would pay for that bottle of wine at the store if you buy by the bottle. It's a whopping 300-400% markup if you buy wine by the glass! To make it even worse, the highest markups are on the lowest priced wines. Either bring your own bottle and pay a small fee for the restaurant to open and cork it for you (if your state/restaurant allows it) or find out if the restaurant has an "off premises" license that allows you to take open wine bottles home with you. If so, then you'll save money if you buy the full bottle even if you don't plan to drink it all. Simply cork it and bring it home.

Everyday Retail Ripoffs and How to Avoid Them

Just because produce is being offered at an organic store, this does NOT mean it's organic! Be sure to check the signs and labels before you buy. Non-organic produce often still carries a hefty markup at specialty stores. You could end up paying 30-50% more for the same non-organic apples or tomatoes you could get at your regular grocery store. Buyer beware-read the labels!

Everyday Retail Ripoffs and How to Avoid Them

Next time you are shopping for an over-the-counter medication (such as Tylenol or Nyquil), give a closer look to the generic versions next to them on the shelf. A general rule of thumb is that you'll pay 30-40% more for name brand medication vs. generics. Most of that cost difference is because of the money that brand name companies spend on marketing and packaging. Check the active ingredients on each box or bottle to be sure they are the same ingredients at the same dosages. If so, save big with the generic. If you have any questions, ask your pharmacist or doctor.

Everyday Retail Ripoffs and How to Avoid Them