It makes perfect economic sense for us to rejoice in finding an item whose price is below its perceived value; there are even graphs in Microeconomics textbooks that demonstrate our happiness at increasing our value-to-cost ratio.
But there's a danger in picking up too many bargains, or in getting so caught up in that value-to-cost thing that you don't consider whether you need or truly want the item in question. Because there's a lot more to "cost" than what you pay at the register.
When you acquire anything, you're actually striking a bargain: "In exchange for the value this item will bring me, I will pay its acquisition cost and the cost of keeping and maintaining it, in space, time, energy and/or money." It's easy to forget that second level of cost when we're focused on the first level of cost, or the value of the item. But that second level can get overwhelming, especially as more items are acquired.
And then there's a third level of cost to consider: the "opportunity costs" of acquiring that item instead of another item or nothing at all. For instance, if you spend $20 a week on "bargains," at the end of a year, that adds up to $1000 that can't be spent on improving or growing your business, and it's $1000 that can't be put into savings or paying down debt.
So, when you look at the cost of something—especially if it's marked "50% off!" or "Closeout!"—remember that the cost on the label isn't giving you the complete picture. When you add together the keeping and maintaining costs, the opportunity costs and the immediate cost of acquisition, you might find that a "bargain" is actually a horrible deal.
What about you? Have you ever purchased a "bargain" that turned into an expensive paperweight? Vent about it in the comments!

