If you’ve ever been shocked at sticker prices, you might already have a glimpse of the markups we’re paying. However, most of us don’t have a clue. Retailers mark up products by tens or even hundreds of times their actual cost. As a consumer, this means you’re spending thousands of dollars a year that you don’t need to. Check out this list of things you’re paying too much for.
Text Messages
Phone users spend more on text messages than they think. You’ll typically pay about $.10 per text, but it only costs your carrier a sixth of a cent to send that message. For example, if you compare this markup to the cost of a phone call, you’d be paying more than $100 per call.
Coffee
If you’re one of the thousands of people who get coffee on the go, you already know it’s expensive. What you may not know is that the markup is 300%. For instance, a cup of coffee that is charged at less than $3 only costs about $.50 to make. It’s far cheaper to make your coffee at home.
Bottled Water
The markup on bottled water is absolutely bananas. While it only costs about $.05 or so to produce, some stores charge $5.00 for a single bottle. The markup is estimated to be around 4000%, making it one of the highest on this list. Taking a reusable bottle with you can help cut down on your spending.
Precut Food
Having your vegetables and fruits precut is a time saver. We all get busy, and sometimes it’s a pain to do the cutting when we’re tired. However, it’s far cheaper to do it yourself because the markup is crazy. You’re paying almost twice as much for precut food than uncut options.
Bakeries
When you go to a bakery, convenience is a huge factor. You don’t want to spend hours baking, which is fair. But the specialty shops that charge $10 or more for a half loaf of bread are marking it up. If you’re truly a fan, invest in a bread-making machine or learn to make your own without one. Either option is cheaper.
Flowers
Did you know that adding a single flower to a bouquet can add $25-$30 to your order? If you’re buying flowers for a holiday or wedding, prices surge even higher, and you could be paying $100 for a small bouquet that only has a few flowers. If you still love buying flowers, do your research to find the best price; sometimes online retailers have the least markup.
Movie Theaters
We all know that movie theaters jack up the price of their items like crazy. In fact, the markup can be more than 1,000%. A bag of popcorn costs less than $.40 to make, but they charge you far more. They don’t want people bringing in their own food to the theater, and their markups are causing people to eat before they come so that they won’t get hungry.
Medicine
This is another area where we know we’re getting unfairly marked up, but many don’t realize just how much. Markups for medicines range from 200% to 3,000%. This is enough to ensure that people who are desperate for life-saving medications can’t afford them. Even generic options are becoming unaffordable for many families, leaving many wondering what they will do.
Greeting Cards
Never buy greeting cards unless you have to. When buying them from a supermarket, the markup is about 200%. However, if you go to an official greeting card store, that markup surges to a far greater percentage. When you can’t afford to buy greeting cards but still want them, try the dollar store. They usually have deals where you can get two for the price of one, and sometimes they are as cheap as $.025 each.
Makeup
Makeup has always come with a hefty markup. Most makeup is made from oils, fragrance, and other ingredients. With celebrities endorsing products now, ingredients that alone don’t cost that much are now being marked up. Thankfully, there are ways to get around that cost, but you’ll still end up paying more than you think.
Don’t Fall For It
Now that we’ve made you more aware of what you’re paying for and just how much it’s being marked up, you can avoid paying more than you need to. Remember to do your research and see if you can find cheaper alternatives to what you’re looking for so that you won’t end up paying quite as much.
