We, the people, do want to save time and money. But it would nearly be impossible to save both time and money simultaneously. Let us assume that you are standing in a long queue to buy the movie tickets. You are quiet sure that when you reach the counter, the tickets for the show would be sold out. At the same time, you are at the verrge to watch the movie. Therefore you would be willing to buy the ticket from other persons at a higher cost. Here you could save your time but at the value of money. Similarly the person who is selling the show ticket to you, could save his money but at the value of time. This is the presentation for latter type of people.
We would come across the following things on a day-to-day basis. These are the things we shouldn’t be paying for. Here comes the list of top 10 things that are overpriced. This list is strictly for the people who want to make more of their money and not for the people who are always behind the time.
10. Hotel in-room services:
Through these services, hotels receive major profits. In most of the star hotels, the management provides you with an opportunity to watch movies of your choice. Even you may feel what a superior service given to visitors. You would realize the truth only after going through the services charges imposed on you by the management. The cost you are paying here would be 175% more than the actual charges. Hence it would be better to entertain yourself with a show in a theater located nearer to the luxury hotel. Otherwise equip yourself with a laptop on your trip and either bring your own DVD’s or get it from the nearby movie rental store. If the Wi-Fi is available at the hotel, you can watch the movies through youtube.com or download it. This way would be cheaper as compared to previous choices.
9. College text books:
Believe me or not, currently college text books account for 25% of total tuition fee. I can say that this much movement happened only in the last 10 years. Now the price of these text books is 85% more compared to 10 years ago. Through publishing new editions, fixed validity of e-books and superior quality of covers are all responsible for this steep rise in value of college text books.
The cost you are paying here is 186% more than actual charges. Undoubtedly this is one of the burdens faced largely by the student community. This burden could be somewhat overcome by selling books at the end of semester exams.
8. Greeting cards:
If you are going to a shop or a mall to buy a greeting card, it would cost you Rs.80 to Rs.250. The cost you are paying here is 200% more than actual charges. If you start to examine the greeting card more closely, you would note that it was just a piece of paper with clear cuts and catchy slogans. Still due to your laziness to make your own card, you would opt for those ready-made cards. It would stick to your wallet, if you are going to buy more than few tens in a year. It would be better if you create a card on your own for your sister’s birthday, parent’s anniversary or friend’s journey. Still if you can’t create it, you could make use of digital prints that would cost you only paper and ink cost.
With the advent of Café Coffee day in India, coffee is also able to join the list. Here the markup would be 300% more than the actual cost. Well, the minimum cost of any beverages will be closer to Rs.150 and it would range up to Rs.400. Still then these coffee shops are running their business successfully. Next time when you are going to have a coffee in the Café day, please remember that you can make the same at your home at one-third of the cost you are paying there.
6. Printer ink:
If you are happy that you bought at a inkjet printer at a much lower cost compared to the ones available in the market, I am sure that you would feel sorry for it in the coming years. It was just a trick played by the printer manufacturing companies. Initially they want to you get used to the facilities available because of printer. Later on they would be reaping their profits through the printer ink. Let us assume that you bought a printer for nearly Rs.1200 and the life of the printer to be 8 years. Within those 8 years you would be spending nearly Rs.6000 for printer ink. Next time when you are going to buy a printer, think twice before you buy.
Because of all these factors, mark up price for printer would be 500% more than their actual cost.
5. Brand name fashions:
Do you know how much you pay for the brand name of Tommy Hilfiger t-shirts, Levis pants or Hawick knitwear? You would pay a large amount of fortune. Still then fashion conscious people do wish to buy those dresses for their brand name. If you are not fashion conscious, you could save your penny, as you could get all of those wears at a much cheaper cost in the whole sale retail stores nearby to your location. Do you want to know how much you could save? You could save nearly 800% compared to the fashion conscious people.
4. Brand name drugs:
Desipramine, Diuretics and Aerobid. Don’t know what they are? They are one of the costliest drugs for neural disorder, hyper tension and asthma respectively. It is always reported that you would pay nearly 40000% more for specific brand name drugs. But, on average, the markup price would be much lower than that (nearly 1200%). The cost of generic drugs would be much lower than that. If you observe throughout the past, the cost of brand name drugs increased year by year whereas most of the generic drugs reported decline in their cost price. At the same time, cost of few generic drugs such as Lipitor, Plavix also vary from a region to other region.
3. Movie theatre popcorn:
Most of movie shows are priced at a lower cost to get you in to the theater. Thereby the owners of the theater paved a way for you to get the popcorn, soda and candy bar manufactured by them at a much higher cost. But the sad part of this story is you all know that eateries are costlier. Still then you are opening your wallet to get that popcorn pack at Rs.150 which you could get at Rs.50 in the shop nearer to your home. Considering that movie theaters purchase popcorn in bulk there would be a markup percentage of 1275.
2. Tax return preparation & other accounts:
While preparing for tax preparation and other accounts, you would reach the help of a professional who is well versed in accounting. The charge for the same service has grown a whooping amount of 85% throughout the last ten years. To your worse, the markup price would be 2500% more than actual cost involved. If your account statements are not much complicated, you can prepare by yourself. There are a lot of free online services available. You could make use of it. Now-a-days e-filing can also be done easily. If time doesn’t matter to you, this would be the best choice.
From our 1st grade we have studied that water is a freely available resource in this planet. But today water that is prepackaged is the most overpriced one. The markup price of the same is 4000% more than actual cost. Still then, we continue to purchase the packaged water. Remember that bottled water is the second most popular drink next to soda.
Through the recent reports, it is confirmed that 40% of the packaged drinking water bottles are filled with municipal water. Hence it would be better if you try to fill your water bottle in your home itself to avoid any further costs during your trips.