Monthly Archives: February 2017

Get the most from the money you spend

Here are some shopping tips to help you get the most from the money you spend:

At the store

  • Resist impulse buying! Ask yourself:
    • Do I really need it?
    • Do I need it today?
    • What if don’t buy it now?
    • Can I do this at a lower cost?
  • Limit the cash you carry.
  • Shop with your budget in mind.
  • Avoid ATM fees.
  • Watch for sales.
  • Wait for the right price.
  • Look for coupons and rebates.
  • Shop for value!

Food shopping

  • Save money by eating at home.
  • Make a shopping list for the grocery store.
  • Watch for sales and coupons.
  • Buy products you use frequently in large sizes or bulk quantities.

Credit card tips

  • Get a credit card with a low annual fee and low interest rate.
  • Don’t use a credit card if you can’t afford the price.
  • Pay your credit card bills on time.
  • Avoid cash advances.

Keep track of your spending

  • Keep your receipts.
  • Check receipts against statements.
  • Check statements against your budget.

Cell phone tips

  • Shop for a package deal.
  • Ask questions.
  • Read the contract before you sign.
  • Understand the features and prices.
  • Watch out for high text messaging charges!
  • Keep track of your usage.
  • Pay your bill on time and in full.

When making major purchases

  • Consider your needs.
  • Determine your budget.
  • Research before you buy.
  • Comparison shop.
  • Research product claims.
  • Try before you buy.
  • Ask family and friends.
  • Confirm the full price.
  • Watch for sales, coupons and rebates.
  • Consider negotiating.
  • Find the best overall value — quality, service and price.
  • Inspect products before you buy.
  • Understand the warranty.
  • Know the return policy.
  • Save your receipt.
  • Speak to the manager if you have a problem.

Find The best ways to save money

For many of us, shopping takes up a large chunk of the monthly budget. Whether you’re trying to save money on food shopping, or cut the cost of buying online, we’ve pulled together a few tips to help you.

  • Work out what you spend your money on. Make a list of everything you buy in a typical month. This will make it easier to work out where you can cut back.
  • Shop around. Check out the competition and compare prices. For example, it might be cheaper to go to a different supermarket, or buy your electronics from a different website.
  • Beware of special offers.Vouchers, special offers and cashback deals were invented to make you spend more, not less. Never buy something you don’t need just because it’s on offer.
  • Don’t impulse buy. Think carefully before making a purchase – especially if it’s expensive. At the very least sleep on it! It might seem less appealing in the morning.
  • Check reviews. If you’re not sure about a product, check online to see if there are any reviews. Just type its name into a search engine, followed by ‘review’.

Credit card tips

  • Get a credit card with a low annual fee and low interest rate.
  • Don’t use a credit card if you can’t afford the price.
  • Pay your credit card bills on time.
  • Avoid cash advances.

Keep track of your spending

  • Keep your receipts.
  • Check receipts against statements.
  • Check statements against your budget.

Saving Money On Shopping Tips

Have you already squeezed every last penny out of your budget? Maybe not. Thanks to free market capitalism, we can choose from a wide variety of products at a wide variety of prices pretty much any time we want to buy something. Unlike investing, saving money on purchases doesn’t require any specialized training and is an easy way for anyone to stretch their 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.

Tip 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 these questions:

Can I get it for free?
If you don’t need something right away, and you usually don’t, it’s worth searching on community ad sites like Craigslist or Kijiji, signing up with some local Freecycle groups, and asking around to see if anyone you know is getting rid of whatever you want.

Can I borrow it?
This tactic can be a great money-saver for any item that you use infrequently or will only need to use once. For example, if you only need to use a drill once a year when you change apartments and have to reinstall your curtain rods, you can get by with borrowing a drill from someone else. Many home improvement stores even have tools you can rent. Likewise, instead of spending money on the newest bestseller novel that you will probably only read once, head down to your local library and see if you can borrow the book. (New to budgeting? Check out Six Months To A Better BudgetGet Your Budget In Fighting Shape and The Beauty Of Budgeting.)

Tip 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 these strategies:

Can I negotiate a lower price?
While you probably can’t negotiate the price on many items, like new DVDs or a package of gum, there are plenty of situations where you can negotiate, even in a retail store. For example, if an item is cosmetically damaged, a store may be willing to offer a small discount because that blemished items tend to be more difficult to sell. If a salesperson wants you to buy a bunch of extras with a new computer or cell phone plan, ask for a discount – the salesperson they may be allowed to offer discounts in order to close the deal on big-ticket purchases. Of course, if you’re buying an item from a private party, you can always negotiate. Also, you probably already know not to automatically pay the sticker price on a car or house, because negotiation is standard practice on these major purchases and the sticker price is generally higher than the real amount the seller will accept.