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, 2008 |
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Black Belt Shopper The Buy Ahead Strategy I’m just about to change the toner cartridge in my laser printer.
Why I am telling you that, you ask? The reason is that the way I bought my new toner cartridge demonstrates an important principle of black belt
shopping – buying ahead. More...
I bought that cartridge on e-bay about four months ago when I realized that it had been about a year since I had changed toner cartridges. I got the cartridge for about $45 when I would have to pay about $100 retail. When I pulled the new cartridge out of the storage area, sitting next to it was a pair of Birkenstock sandals I bought around the same time also for about half price. I live in my Birks and actually do wear them out. I figured that sometime in the next four or five months I’d want some new ones, so I might as well get them when I see them at a good price. Buying items you know you’ll need when you find them at a good price can save you thousands of dollars a year on everything from ketchup to convertibles. Thinking ahead and anticipating and then looking for bargains ahead can not only save money, but also eliminate disruption in your life (I don’t have a spend a lot of time today figuring out where to get this toner cartridge and then either driving to who knows where or ordering and doing without for several days). If you’re a Better Budgeter, you probably have thought of ways to buy ahead and save. Here are a few strategies that I use to garner the savings: Groceries Here’s where buying ahead can really help. Here in Southern California, where I live, two grocery chains regularly double coupons. One of them often has on sale items whose coupons are featured in the Sunday paper. Combine those savings and you can save big. Right now I have three tubs of the margarine I like to use because I saved about 3/4 of the retail price combining sales and coupons. A family of four in my area can easily save $30 or more a week just with this strategy. Buying yesterday’s meat and freezing it is another tactic that saves many families money. How you will buy groceries ahead will depend on couponing/discounting policies in your area, your family’s food preferences, and other resources available. Your plan may or may not be the plan I use. Developing a plan of buying groceries ahead, however, will definitely save you. Clothing If you’re living in the Midwestern snowbelt and reading this article when it first comes out in April, you may be able to get in on a sale on winter coats. If your winter coat is kind of tattered and you can afford a new one now, you may save considerably over buying a coat in the fall. This can be particularly true in some of your more upscale, fashion-conscious stores that are so anxious to keep their merchandise changing that they discount high quality, stylish clothing quite deeply just because it’s sat on the shelf for awhile. While I don’t live in the snowbelt, I have gotten designer long sleeved cotton shirts that would ordinarily sell for $60 or more for $12 just because the season is ending. Gym/swim trunks become very inexpensive in August and September. Name brands are especially discounted. Just last night I got a $135 designer rugby shirt for a little over $20 after the sale price of $47.50 was reduced by 30% at a weekend sale. I’ll wear it in the mountains this weekend and will have it for fall and winter wear when the weather changes in November. It’s a classic design and well-made, so it will last. Using your local newspaper as a resource can make finding the sales a lot less labor intensive. Look for coupons and major department stores at the end of a season, decide what you want, and go for it. Children’s clothing is another area in which buying ahead really pays. With a little planning, you can buy clothes children will grow into when the stores you shop in have regular clearance sales. Just don’t get too excited about telling your child that (s)he will grow into the new clothes if it’s something they really like. Children have no patience for this sort of thing. Consider the value of buying shoes before you need them. Shoes often go on sale because the stores have to stock so many sizes. If you can find your size in a shoe that works for you, buy it ahead of time. Gifts The way my life has been lately, I was grateful that I had magnets, switchplates, and a DVD documentary centered around his favorite artist all ready to go when my dad’s birthday snuck up on me during a really busy month. Most better budgeters have a gift corner or gift drawer. Karen Kuebler talked quite a bit about this in her column last month. If you see an item when you are out shopping and think it would suit a particular person, consider buying it then even if the gift giving occasion is several months away. You will be able to find better gifts and lower prices than if you go on the mad scramble trying to find Aunt Franny a gift that elicits a sincere, "you shouldn’t have." The pain is worse if you can’t find it on sale. Everything Else As you read this article, no doubt you can think of more consumables you can buy ahead of time. Consider computer consumables (cartridges, paper, CD-R disks), gasoline, light bulbs, craft supplies, garden supplies–the list goes on. If you often go by a gas station that is a little less expensive than the others in the neighborhood, go in there even if you still have half a tank. As good as buying ahead my be, however, you can overdo it. You can buy perishable food that goes bad before you have a chance to eat it. You can get so carried away with buying ahead that you buy items you really don’t want or need. Before buying any big bargain, ask the question I always ask: "If I had money to burn and saw this item at full price, would I want to buy it?" If the answer is anything other than a big "yes", think about it a little more. You may do as I have done and buy ahead, put the item away, and then forget that you have it and buy it over again. Buying ahead takes some organization and cash outlay. Some people argue that it isn’t worth it because you can invest the money and make more. If anyone knows of any secure investment that will pay 40% tax free in six months (the savings on a deep discounted winter coat bought off season could easily be), let me know and I’ll be the first to make that investment. Barring one of those "too good to be true" types of investments, I’ll stick with saving thousands of dollars each year buying groceries, toner cartridges, and all the rest when the prices are good even if the need isn’t immediate. And speaking of investments, think about what you are going to do with the money you save. If you find that buying ahead begins to save you significant amounts each month, give some thought to how you are going to use the money you save. Will you get out of credit card debt? Can you start funding that 401 (k) you’ve been meaning to look into? Options abound. But now you can invest a little time in thinking about how you can use the buy ahead strategy to save mightily, and how you can use those savings to enhance your own life.
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Copyright © 2003 by Larry Wiener, author of The Black Belt Shopper's Guide Want more money-saving tips? Get a FREE subscription to our monthly Ezine!
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