Price Anchoring and why you should learn about it

Price Anchoring and why you should learn about it

You know that very expensive bottle on the wine list at a restaurant that you’ll probably never buy?

It’s there for a reason. Once you’ve seen the stupidly expensive item the rest of the menu will appear to be good value in comparison.

Then when you effectively get ripped off for the cheaper bottle it won’t seem as outrageous.

The same happens with food menus, car prices, electrical items, anytime you see the RRP listed, magazine/website subscriptions etc etc

This image/article (talking about subscribers to The Economist Newspaper) proves how important this can be in day to day life, for those interested in learning more about price anchoring check out http://10ws.co/1wvvlI3

1609763_762459373791623_1550417038776515590_n

Hope a few of you have found this useful / thought provoking.

This example by Steve Jobs is a perfect example of how it works:

2 comments

Be a financial rockstar and share this with your friends, family and co-workers to maximise savings:

More 10ways.com posts:

Important things to remember with everything we post:

  • If you earn over your personal allowance (currently £12,570 a year) HMRC need to get their % cut (even if the money is in cash or from another country)
  • If you’re working for yourself / earning an income on the side you need to let HMRC know – There are numerous benefits but also some drawbacks
  • You need to always ensure whatever you’re doing is legal and not hurting anyone else – be careful and always think twice
  • Some income streams may require you to have DBS check, licence, insurance or qualifications before you can start to profit from it, do your research.
  • Be careful that any additional income doesn’t compromise your studies or main income/job
  • If you work for a company check your contract, if you don’t inform them you’re working on other side projects outside of work they may have grounds to ownership on this work

Most popular this month

More 10ways posts:

Legendary Deals:

View our latest deals

Why we do this?

We got sick and tired of seeing the public, our friends & family being exploited by fake deals, tricks and scammers. Using numerous tools, our dedicated staff and our large userbase we collate all the best genuine bargains, price glitches, profit-making ideas, scams, hidden tricks, freebies and ways to make, save & invest money in one place.

10ways.com provides at least 10 unique ways of saving, making or investing money each day to our 1.2 million users. Primarily we post time-sensitive deals and content on our social media accounts Facebook, Instagram and Twitter

How we work

At 10ways we pride ourselves in showing as many alternative career paths, deals, glitches and ways to have more money as possible but we're not perfect and the information provided on our website/social media does not constitute financial advice, it's vital that you do your own research and realise you use the content on this website at your own risk and that we cannot accept any liability for your actions.

Links & Prices

We often link to 3rd party websites and can't be responsible for their content. Many deals, offers & opportunities are time sensitive and may change before we notice, so whilst they're correct at time of publication they may have changed before we've had a chance to amend the website, so double check first.

We occasionally use affiliate links within some of our content, these links may generate a small income for us but their use never compromises the quality or content of our posts.

© Copyright 2025 - 10ways.com
Remember to follow us!