10 Money Saving Ideas
- Do it yourself,
- Find someone to talk money with,
- Actually eat your leftovers,
- Pack a lunch,
- Wait until things go on sale,
- Sleep on it before buying,
- Negotiate,
- Cut up credit cards,
- Take out cash, when the cash is gone stop spending money,
- 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