B2 – Upper Intermediate
In the world of handling money, there’s this thing called “spaving.” It’s a mix of “spending” and “saving.” It’s when people think they’re saving money by spending more upfront on things that seem better quality. Even though it might seem smart, it can actually cause money problems in the long run.
Watch this video about to know more about it and get some tips on making better choices with your money and reach your savings goals more easily.
Vocabulary Questions:
- What does the phrase “to rip off” mean? “Some big shot over at the weiner company and some big shot at the bun company got together and decided to rip off the American public.” Use this phrase in a sentence.
- What does the word “entice” mean? “Buy one, get one” has enticed you to spend more.” Make a sentence using the word.
- What does the word “outsmart” mean? “The algorithms are coming after you, so you have to outsmart them.” Use the word in a sentence.
Discussion Questions:
- Do you think ‘spaving’ is a common financial strategy among people today? Why or why not?
- What are some potential advantages and disadvantages of the ‘spaving’ mindset?
- Share any personal experiences where you’ve encountered ‘spaving’ in your own life or observed it in others.
- What are some examples of products or services where ‘spaving’ might be particularly tempting, and how can individuals differentiate between genuine savings and falling into the ‘spaving’ trap?
- What alternative strategies can individuals employ to achieve their savings goals without resorting to ‘spaving’?
4 replies on “Spaving and How to Avoid this Financial Trap”
Do you think ‘spaving’ is a common financial strategy among people today? Why or why not?
Yes, ‘spaving’ is quite common, especially with the rise of marketing strategies that emphasize discounts and bulk deals. Many consumers feel compelled to buy more than they need just to take advantage of a perceived bargain. However, some people are becoming more financially aware and recognize the psychological tactics behind these promotions.
What are some potential advantages and disadvantages of the ‘spaving’ mindset?
Advantages:
Can lead to savings if the extra purchases are truly needed.
Helps consumers stock up on essentials, reducing future expenses.
Allows for bulk purchasing, which can be beneficial for large families or businesses.
Disadvantages:
Leads to unnecessary spending on items that may never be used.
Can strain budgets and create clutter.
Encourages impulsive buying rather than mindful financial planning.
Share any personal experiences where you’ve encountered ‘spaving’ in your own life or observed it in others.
Many people have fallen into the ‘spaving’ trap during big sales like Black Friday. For instance, someone might buy an extra pair of shoes just to qualify for a “Buy One, Get One Half Off” deal—even if they didn’t originally plan to buy two pairs.
What are some examples of products or services where ‘spaving’ might be particularly tempting, and how can individuals differentiate between genuine savings and falling into the ‘spaving’ trap?
Tempting Products/Services:
Clothing stores with “Buy X, Get Y Free” promotions.
Grocery stores offering discounts for purchasing in bulk.
Subscription services with limited-time discounted annual plans.
Tech products with “bundle” deals that encourage unnecessary upgrades.
How to Differentiate Genuine Savings vs. ‘Spaving’:
Ask yourself: Would you buy the extra item if there was no discount?
Consider long-term utility: Will you use the extra purchase, or will it go to waste?
Compare unit prices instead of overall costs to determine actual savings.
What alternative strategies can individuals employ to achieve their savings goals without resorting to ‘spaving’?
Stick to a shopping list and budget before entering a store or browsing online.
Use cashback or rewards programs for necessary purchases rather than spending extra for points.
Wait before making a purchase to determine if it’s truly needed.
Invest in quality over quantity to avoid unnecessary repeat purchases.
Focus on long-term financial goals rather than short-term discounts.
You are doing such a good job in your writing practice.
Remember to write your answers in formal writing. Construct them into paragraphs instead of bullets/fragments of ideas. Here is an example on how one of your responses can be written properly:
Keep writing!
• To rip off. Sentence: Some websites rip off consumers with false advertising to buy more items.
• Entice. Sentence: Some promotions such as 3×2 or 70% if you take a second item use to entice people to buy more articles although they don’t need them.
• Outsmart. Sentence: We need to be outsmart so as not to fall into the “trap” buying unnecessary items.
—Do you think ‘spaving’ is a common financial strategy among people today? Why or why not?
Absolutely. I think that spaving is a common practice among people nowadays. Lot of people in their diary errands try to take advantage of the offers such as 3×2, or 50% on your second item…but at the end, they spend more than expected on more items that they need.
—What are some potential advantages and disadvantages of the ‘spaving’ mindset?
They main advantage of the “spaving” mindset is that if you are outsmart, you can save money buying on articles that you really need or use. However, the main disadvantages are that “spaving” can be problematic when you are spending money in articles that you don’t need or use or when you can’t afford paying some items and you end up asking for loan at the bank for paying it.
—Share any personal experiences where you’ve encountered ‘spaving’ in your own life or observed it in others.
I find “spaving” diary, for example when you buy at the supermarket. Here we can encounter the easiest example. In my case, a recent example was that I got an offer from a perfume store: when you spend a certain amount of money, they pay you back 10 euros to spend in the next two weeks. So, I went and bought items that I didn’t need at that time to take advantage of the offer, and finally I had to pay extra money to cover the price of the selected items, and it was a money that I didn’t count on.
—What are some examples of products or services where ‘spaving’ might be particularly tempting, and how can individuals differentiate between genuine savings and falling into the ‘spaving’ trap?
I suppose the particularly tempting ones are those that can usually be found in a supermarket, i.e. everyday products that are essential for living. Stopping to think about whether what you are buying is really necessary for you can help you differentiate true savings from those that are not.
—What alternative strategies can individuals employ to achieve their savings goals without resorting to ‘spaving’?
Making a list before going shop or trying to avoid to fall into the trap of the marketing campaigns from items you don’t need or use can be help people to avoid practicing “spaving”.
Great job going back to your writing practice after some time.
Here is how you can improve this sentence:
Keep going with this exercise.