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Black Belt Shopper
(featured column)
Save
Thousands with New Shopping
Strategies
by Larry
Wiener
It’s the new year.
You are in the resolution mode, taking up new habits and breaking old
ones. While you are in that mode, don’t forget to think about the way
you shop. Many of us shop for
everyday items without much thought—we are out of mustard, so we go to the
local supermarket and buy what we need. While
we’re there we see the cookies we must have and we’re on our way. More...
By being just a little more methodical and
using a few proven shopping strategies, most of us can save thousands a year
over random shopping. You don’t have to buy lower quality goods to save big.
Just being a little more intentional about when and where you shop can
put more money in your pocket than you might think.
Make good use of that money and you’re well on your way to financial
freedom.
Here are some relatively easy strategies
to look at.
 | Use
coupons Strategic use of
coupons can save you big, especially if you are in an area in which
supermarkets double them. As a
single person, I save about $15 a week with the strategic use of sales and
coupons. A family can save well
over $1,000 a year, certainly more than the price of the Sunday paper where
you’ll find them in most cities. For
a more thorough treatment on coupons, look at my ebook The
Black Belt Shopper's Guide.
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| Check
out the dollar stores Once
the home of trinkets and leftovers, the modern dollar store now carries
groceries, toiletries, and other consumable items that we use every day. I use dollar stores for such items as pasta, juice
drinks, shampoo, bread, and applesauce to name a few. One West Coast dollar store (the 99 Cent Store) even
sells penny a minute phone cards.
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| Check
out the closeout stores General
closeout stores such as Big Lots are great for batteries, some grocery
items, cleaning supplies, and other everyday needs.
Watch for quality, though. More
upscale stores such as Marshall’s, TJ Maxx, and Stein Mart emulate a
department store and provide more upscale bargains on clothing and household
items.
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| Consider
used books, CD’s, and movies
Buying these items used online is relatively easy.
Half.com
is a
wonderful source of new and used media at bargain prices.
Some offerings are overruns or remainder items while others are used
items sold by private parties. I
have bought media there regularly and have had very few bad experiences.
Amazon.com
also has used items as does eBay.
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| Review
your insurance coverage
Has your car depreciated enough that you no longer need comprehensive
and collision? Has your home escalated enough in value that you no
longer need private mortgage insurance (PMI)?
Can you find lower cost providers for the insurance you really do
need? Going over your insurance
every year or two can save you mightily.
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| Review
your sources of prescriptions
If you pay for all or part of your prescriptions, you may want to do
a little comparison shopping if you haven’t in awhile.
Large drug chains are convenient, but may not give you the best value
on the medications you use regularly. Warehouse
stores such as Costco often provide better value.
Online sources may also be good, though you have to be organized
enough to order enough in advance to get you meds before you run out.
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| Learn
about travel sites
If travel is part of your life, online is usually the place to buy.
Two sites that really save are Sidestep
and Hotwire.
Sidestep, which you need to install, pops up when you are looking at
hotel, airline, rental car, and general travel sites after you give your
destination and provides you with a list of offerings.
Hotwire gives rock bottom prices on many travel items, but doesn’t
let you know the specific airline or hotel until after you’ve committed.
Expedia
points up daily and weekly bargain offerings as well, but often you’ll find even cheaper
fares by going to the website of the carrier that puts its prices on expedia.
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| Review
your local newspaper for sales
The daily newspaper is one of the black belt shopper’s best guides.
There you will find information on sales, new offerings, and other
ways to save money. If you
already subscribe, take a look at the ads.
If you don’t subscribe, having a daily newspaper delivered may be
worth it if nothing else just for the coupons and ads.
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| Make
plans for the money you are going to save
Using these strategies and others will put money in your pocket.
The key then is to be very intentional about how you are going to use
the money you save. Reducing
debt, setting up a reserve, and becoming an investor are good uses of saved
money. Saving for a special
purchase is another great way to used money saved.
Be intentional, however, for greatest satisfaction.
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These are but a few of the many strategies
you can use in the new year to shop more productively and improve the general
quality of your financial life. Employ
them regularly and you will be well on your way to greater financial freedom.
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Copyright
© 2005 by Larry Wiener. All rights reserved. Want more
money-saving tips? Get a FREE Subscription to our monthly
newsletter!
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