A study released Tuesday by The FoolProof Foundation found that "gullible decisions are costing average consumers at least 25 percent of their lifetime income."
"Coffee is a great example of a gullible decision that can break the bank over time," said Will deHoo, Founder of FoolProof.
"Most of us are happy most of the time with a normal cup of coffee. But without thinking, a lot of us buy a cup of ‘designer' coffee that costs $5.00 more than standard coffee. In the average economic lifetime, that can translate into a minimum of $57,000 dollars down the drain," deHoo said.
According to the foundation taking a break from a "designer cup" by indulging every other day rather than every day "can save you over $28,000 in time." deHoo says overspending goes beyond coffee.
"We pay more than we need to for a specific item. We buy what we don't need. We buy the wrong product or service. We buy an inferior item. Damage everywhere!" he said.
FoolProof found that the average consumer makes more than 46,000 spending decisions in a 30 year-"economic life." The smallest decisions have the largest long-term impact on the consumers bottom line.
If you want to test your "gullibility" score you can actually take a test at : www.foolproofme.com
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