Money-Saving Shopping Tips
Have you already squeezed every last cent out of your budget? Maybe not. You can save money on your purchases as an easy way to stretch your budget a little farther.
No matter what your income level, you can give yourself more breathing room by becoming a savvy shopper. Here are five tips to help you get started.
1. Make the store your last choice.
Most people’s default response is to go to a store anytime they need something, but that’s not the only way to obtain a needed item. Ask yourself: Can I get it for free? Can I borrow it?
If you don’t need something right away, and you usually don’t, it helps asking around to see if anyone you know is getting rid of what it is you want. This tactic can be a great money-saver for any item that you use infrequently or will only need to use once.
2. Negotiate when possible.
Some prices are set in stone, and it’s a waste of time trying to negotiate with someone who won’t budge. However, when you think there’s some wiggle room, consider asking: Can I negotiate a lower price? Can I barter? Can I get a better price somewhere else?
While you probably can’t negotiate the price on many items, like the latest DVDs or headset, there are plenty of situations where you can negotiate, even in a retail store. For example, if an item is slightly scratched, the store may be willing to offer a small discount because blemished items tend to be more difficult to sell. In a person-t-person transaction, it’s worth asking if something you have can be bartered with something you want.
3. Time your purchase.
If you wait to purchase something until you really need it, you’re likely to pay the sticker price, but with a little advanced planning, you can save big bucks. Ask yourself: Will this item go on sale? Might there be a coupon for this item somewhere?
If you want an electronic good, you will probably have to wait patiently – it will probably go on “sale” once a newer model comes out or the regular price will drop as supply increases and demand drops. Or combine sales with coupons you earn for purchases at a store to pay part of the price of an item. Better yet, go around various stores and compare prices of the same item you want.
If the item you want doesn’t quite fit into
4. Substitute.
your budget, think about similar but less expensive alternatives. Ask yourself: Is there something that doesn’t cost as much, but does the job I need it to? Or, do I really want this? Now?
Wish lists can go a long way toward preventing impulse buying. By taking time to think it over, you can decide whether the item is a necessity or just a want. Forgoing with an unnecessary purchase can mean saving money for something more meaningful.
5. Expand your shopping universe.
If you normally head straight to your favorite website, specialty store, or the mall when you need to buy something, consider these other shopping options that can save you a great deal of money – a garage sale, a moving-out sale etc. These are good sources of items that are not necessarily needed right away. For example, goods like canning jars, dishes or a jewelry organizer can almost always be found there.
However, don’t expect to find absolutely everything at these sales, but do check them out from time to time to add value to your shopping budget.
When you cut costs in lots of little ways, you can achieve big savings without making big sacrifices. Even saving a little on minor purchases, like cans of soda or packs of chewing gum, can result in significant savings if you buy these items habitually. It doesn’t take much time or energy to get into the habit of considering your purchases more carefully.
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