Money Saving Tip: Know the Law

Here's an unusual money saving tip:

Know the consumer laws in your state regarding pricing and retailers' requirements in the event a product is mis-priced. Then be sure to point them out to the proper store personnel so they can make it right.

Here's an example from Michigan (where we live). The law requires that price tags be placed on almost every kind of item. If consumers are charged more than the price marked, they can demand the difference plus 10 times the amount of the difference, up to $5.

Let's get specific. Let's say you buy a candy bar that is marked $0.90 and you're charged $1.00. You are entitled to the difference ($0.10) plus ten times the difference ($1.00) for a total of $1.10. You just got a candy bar for free and $0.20 to boot!

Here's another example. You buy a shirt that's marked as $9.00, but you're charged $10.00. You are entitled to the difference ($1.00) plus ten times the difference ($10.00) for a total of $11.00. However, this time you're limited by the $5 rule on the "ten times" part. So you end up getting back $6.00.

There are rules that go along with this, so you have to know them too. The main one is that if the discrepancy is pointed out at the cash register before the transaction is complete, you only get the right price -- nothing extra. If you get all checked out though, then mention the issue, they owe you what the law requires (and you usually have to go to the customer service desk to get your money).

And if you really want to be a money grubber, you can rush back into the store, buy more of the item that was mis-priced, and they'll owe you even more. But the amount is so little, it's usually not worth the time to do this. besides, it's bad form -- even in my money-grubbing book.

We've used this law on several occasions and always gotten paid what we were owed. I have even had to point out this law to a customer service person at Staples who insisted that there was no such law, only to be humbled when she called the manager and he informed her that indeed I was correct and that they owed me cash back.

Laws vary from state to state, so check your states laws, learn them, then be on the lookout to apply them when you shop. They could save you a nice amount -- or at least score you a free candy bar. ;-)

Comments

[Gary]

Recently went to Walmart in Western NY & saw big signs for paper towel multi-packs for $7.48. It rang up as $8.89 (They don't label individual packages). I told the clerk it was wrong. She just gave that "I don't need this" look so I left my wife at the check out & went back to the rack, found a worker there who agreed to come with me & tell her the correct price. She reluctantly complied.

Is there any such law as in Michigan in NY or in PA?

Gary

[FMF]

I'm not sure. My guess is that you'd need to contact the Secretary of State in NY or PA and ask them.