Financial Friday

10 Money Saving Ideas

  1. Do it yourself,
  2. Find someone to talk money with,
  3. Actually eat your leftovers, 
  4. Pack a lunch,
  5. Wait until things go on sale,
  6. Sleep on it before buying,
  7. Negotiate,
  8. Cut up credit cards,
  9. Take out cash, when the cash is gone stop spending money,
  10. Start an auto draft to a savings account.

Wait until things go on sale to buy them. 

I don’t mean the sign in the window that says “Sale!”  Some places, like a jewelry store, things are always “on sale.”  This sounds like a simple concept, but most people get scammed by a sale (likd the jewelry store).   

The first thing to know about a sale is the actual price of the item you are looking at.  With the Internet it’s super easy to find out what the price actually is on anything.  I like to use my smart phone even on cheap things (the Amazon app is great). 

Once you know the normal price, is the sale a sale?  Anything less than 10% off isn’t a sale.  You could find that by going somewhere else or ordering it online. 

If you are buying something big, take a night to sleep on it.  You may not need the item right now, or you may find it cheaper. 

If you figure out the sale is actually a good one, and you really need the item, buy it, if you have the cash.  All the fancy financing deals (like 6 months same as cash, 88% of them turn into high interest payments) are deals for the finance company, and rip off the person getting financed. 

Next week we’ll look at negotiating. 

Stay Safe,

Ben

Leave a Reply

Your email address will not be published. Required fields are marked *