This free online Percent Off Calculator will calculate the discount sales price of an item given the original selling price and the markdown percentage.
Plus, unlike other online discount calculators, this calculator will even calculate the effect that the percentage off will have on the amount of sales tax added to the item.
If you purchase an item that you would not have purchased if it wasn't "20% off," then you really have not saved any money at all. Instead, you will have spent 100% more on the item than you otherwise would have.
Time and time again I hear people trying to justify their purchases to others by telling them how much they saved. In most cases it sounds as if they are trying to convince themselves more than the person they are speaking to -- which leads me to believe they are simply trying to fight off the buyer's remorse that comes from reacting to sales hype instead of intentionally acting in the best interest of themselves and their families.
What most of us fail to realize is that the end value of a purchase is not measured by the amount of money we might have "saved," but by the impact it will have on our future happiness relative to how else we might have spent (invested) the money used for the purchase.
In my experience, the biggest reason we fall victim to sales hype is because we don't have a written, prioritized list that contains wants and wishes that we have carefully predetermined to provide us with the greatest emotional return.
For example, suppose you had such a list, and #1 on your list was "Find a flexible job that is less stressful and allows for creative self-expression."
If that were the actual case I would guess that you are spending a lot of your time stressed out about your present job. And of course, one of the ways to temporarily escape that feeling is to do something nice for yourself -- like buy a new inanimate object.
However, because you have a prioritized list, you quickly recognize that, while the new inanimate object might offer a temporary escape from the discomfort created by your present job, it does nothing to eliminate the root cause of the discomfort. Therefore, you say no to the purchase of the inanimate object and direct those time and financial savings toward discovering and pursuing a less stressful, more self-fulfilling career.
Unfortunately, most people don't have such a list, leaving corporate America free to make billions of dollars off of people who are forgoing what would truly make them happy, for the sake of small temporary escapes from what is making them the most unhappy.
If you are having difficulty cutting out wasteful spending I encourage you to take some time to develop a list of things and/or life changes that you believe would lead to the greatest net-increase in your day-to-day happiness. Then prioritize the list from most important to least important.
If it helps, the top three things on my initial list were as follows:
In my case it took 5-years to achieve my number one priority, but once I did the rest began to fall into place almost automatically. After all, once you find a work that you enjoy and that helps others to solve a problem that's important to you, there's no longer much need for temporary escapes.
With that, let's use the Percent Off Calculator to calculate the sales price from a markdown percentage, along with the resulting savings.
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Original price: Enter the dollar amount of the original selling price of an item.
Markdown percentage: Enter the markdown percentage of the item that is on sale.
Sales tax percentage: If the sale item is a taxable item, enter the sales tax percentage. Please enter as a percentage (for .06, enter 6%).
Original price row: This row contains the original selling price, the sales tax on the original selling price, and the total of the original price plus the sales tax.
Sale price: This row contains the discounted sale price, the sales tax on the discounted sale price, and the total of the discounted sale price plus the sales tax.
Discount savings: This row contains the pretax savings, the sales tax savings, and the total of the pretax savings plus the sales tax savings. But remember, the savings calculated by the percent off calculator is only a savings if you have predetermined that the value of having the sale item is worth more than the value of something else the same amount of money could have bought.