Shopping Tips – Page 5

Cut spending: know what you have and what you don’t need

Do you want to cut your spending? Organize your belongings and stop to think before you buy. How does that help? Read below

Organize your belongings

Have you ever made a purchase only to find out you have the exact same thing at home? If you are organized – knowing what you have and where to find it – you will save time and money. Buying duplicates of things you already own is a waste of money. I am talking about the items in your clothing closet, your food pantry, your linen closet, and your garage.

Stop to think: Do you really need it?

A great price doesn’t necessarily mean a great buy. Check your supplies at home before you buy. The same is true for coupons – don’t buy just because you have a coupon: make sure you need it, want it, and will use it in the immediate future.

Don’t panic about missing a great price. Chances are it will go on sale again in the future.

Be careful in warehouse clubs. If you only need 1 of something, then just buy the one, and not the 12-pack. If you aren’t going to use all 12 right away, you will have to find a spot to store the extras. Will you know where you stored them in a year, or will you be at the store buying another 12?

Stop to think: Are you buying for “someday” or for right now?

Be careful about buying for future fantasies. If you have a dream of doing craft projects with your children, don’t buy the items now when you don’t have kids. This someday-buying will make you spend more and cause you to have items that need to stored. Buy things only when you need them. Even buying too far ahead for the holidays can be an issue.

Simply put, know what you have in your home and where to find it when you need it. Don’t buy more than you need right now, regardless of the great price. Living with less will mean more cash in your wallet.

Getting the Deals When You Need Them

Do you see those online daily deals for discounted merchandise and wish you knew about them before they sold out? Did you buy something to find out later that you could have bought it for less on a website? It seems as if many retailers are offering them I see them from office supply stores, utility companies, credit card companies (so you use that credit card more) and I am sure that I miss most of them They seem to be like the grocery stores that offer the really great deal on a few products to lure you in They know that you will buy more once they get you to the store.

If you are looking for something specific and want to see if you can purchase the item at a discount, then you may want to look into these daily deals Remember, it’s not a bargain if you buy something because the price is so good that you can’t turn it down Retailers (and websites) are counting on you to make that purchase since it’s such a great deal But, it’s only a deal if you were looking for that item before you saw it Don’t impulse shop.

Since there are so many, how are you to keep track? There are a couple of websites that will help you with this www.Woot.com, www.DealCatcher.com and www.DODTracker.com will consolidate deals from numerous retailers in one location That way, you don’t have to track many different websites to find the item you are looking for, or worse yet, finding the deal when it’s already sold out Shop wisely and within your means.

Holiday Returns – Restocking Fees

We are in our second week of December Most of us are already thinking about the holidays and gift giving Many stores are luring you to spend with statements like “we’ll refund your money if you are not completely satisfied” and “tryit and you can return it for a full refund” I bet you have heard these offers before It might sound good, but you need to be aware of restocking fees (No, these don’t have anything to do with your Christmas stocking.)

Retailers charge restocking fees to cover the cost of selling an opened package at reduced prices For example, if you bought a computer and opened the box and then returned it, the retailer cannot sell that item as brand new Therefore, you might be charged a restocking fee That seems fairly reasonable to me Many retailers are adopting restocking fees You could see it on mattresses, automobiles and other items that don’t have package restrictions.

Restocking fees can be expensive, as much as 25%.First, ask the store what the policy is and ask to have it in writing before you make the purchase Once you fully understand the policy, then determine if you want to make your purchase at that retailer If the purchase is for a gift, you might want to consider a gift card instead, so that the recipient doesn’t have to deal with the restocking fee.

Holiday Shopping Tips

The holiday season is in full swing Were you one of those out there at midnight shopping on Black Friday? It’s easy to spend money during the holidays We shop to make the holidays special for those we love and also to look good and feel good during the darkest month of the year.

If you’re worried about spending too much, think about these things before you shop.

Do you really need the item? If not, don’t buy it.
Can you (or the person you are giving this to) live without it?
Do you have the cash to pay for the item? You don’t want to charge items that you can’t afford to pay off when the bill arrives.
Is this a good price? Do your research ahead of time to know that you can buy it for less.

This year with the economy we are in, I would suggest that you do some planning before you tackle the holiday season First look at your list are there people that you can eliminate buying a gift for? Maybe you could spend time with that person creating new memories instead of buying an item off the shelf For the people on your list that you will be buying for, think long and hard to determine what amount of money you have to spend This should be an amount within your budget (not on credit cards that must be paid off later) Your holiday budget should include all the items you have to buy, such as hostess and/or food gifts for parties, tips for the service people in your life, additional gas and holiday clothing for yourself.

If you’re going to buy something (especially during the holiday season), do it wisely and within your budget Let the joy of the holidays extend in January by avoiding the stress of January credit card bills Remember, a bargain isn’t a bargain if you’re buying something you don’t need.

The holidays are here.

The holidays are here. If you need to stay within a budget, start early.

First, make a list of all the people on your holiday gift list, then see if you can make changes.

Could you give a family gift instead of individual gifts?

Can you go in on a gift with someone else and share the cost?

Would a name draw work for the family party? With a name draw, each person buys only for the person whose name they drew. It’s fun and inexpensive. Do a separate drawing for the children so each child receives one gift and gives one gift. Make sure to set a dollar limit that everyone can afford.

Once your list is complete, set a firm amount for each person and don’t go over. The grand total of all your gifts should be a realistic amount that you can afford. Be honest with yourself.

When shopping, keep your list of people and your budget amounts with you. Check the sales fliers now because holiday sales are already starting. Big retailers are also adding holiday layaway plans. Layaway plans work great if you know your budget. They allow you to make affordable payments without using a credit card.

You could also try giving gifts that don’t cost a lot of money. Service coupons are a wonderful gift. For example, you could cater a meal for a family that has a busy lifestyle. Try an inexpensive but meaningful gift, like a photo CD or memory album. The choices are endless if you take the time to think of what each person might enjoy most.

The most important thing this holiday season is to have fun and enjoy your time together. Create new memories instead of new debts.

12 Months Free Financing – No Money down

Reader Question: The store is offering a buy now-pay later deal – is there a catch?

The only catch is that you might cheat yourself.

Many stores offer these deals and they are legitimate. If you pay the loan off on time (and it is a loan) you won’t have to pay interest. If you don’t pay it off on time, you pay interest for the length of the loan – that could be 15% interest for 12 months on a $5,000 purchase. Ouch. Some bargain.

The real problem with these deals is that most people don’t pay off the loan on time. The rule is simple: if you can’t afford to save up for a purchase, then you probably can’t afford to make the payments.

I am not in favor of this type of offer. I strongly encourage you to start saving and wait before you buy. If you hate your furniture, take some pride in saving for a new set. In fact, brag it up. Saving for purchases is smart. You might find that you can get a deal on much better furniture if you save ahead of time instead of buying the sale items that the store is trying to unload with their “buy now-pay later” deal.

However, if this is truly an emergency purchase that can’t wait, like a furnace or hot water heater, then make paying it off a priority, even if it means cutting back. I’ll discuss clever ways to cut expenses in future posts.