If you want to buy an item with a big markup, can afford it, and it brings you value, then by all means go for it! Movie theaters make most of their money from concessions so it makes sense why it’s marked up so much. But just remember you’re paying for the experience more so than the actual popcorn. And sometimes it’s worth it.
If there are some things you routinely buy with big markups, ask yourself if there is an alternative that will give you the same result but cut the price way down. Not always, but a lot of times there is. For example, are you sick of paying $5 for a bottle of water at a hotel?? Plan ahead and bring water with you or buy a reusable bottle with a filter!
Figure out your priorities and make sure you’re spending money on things that make your life better. Avoid allowing small expenses that offer no real improvement to your well-being to rob your ability to build future wealth.
These are average markups listed in the post. The range can vary greatly. All data was sourced from Daily Infographic and CNBC.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Vivi & Shane
