A manic friend of mine ran across a dollar store DEAL on those flat garden hoses that sold for $20 on TV. She bought at least 50, stacking the shoebox-size containers against a wall in her tiny apartment. Although she sold a few for $5 to friends and acquaintances, the rest took a major toll on her living space and morale. Final destination: the dumpster when she moved.

It’s easy to get caught up in calculating the potential profits of a bargain, but how often do we consider the cost in square feet of storage, physical effort and mental stress? If I were going to collect anything now, it would be paper goods or something very small and very likely to retain its appeal and grow in value, like historical documents or fine miniatures. Better yet, I buy what I need to live and leave the speculating to people who have plenty of disposable income and an outlet for selling.

I just need to make sure I stay at home during sales. That way I save 100%.

Consumers who grab up so-called deals only to find the merchandise cluttering up their homes need to realize their bargain purchase price would be better off in an interest bearing account. Now they need to go through the process of unloading the stuff on eBay or at a yard sale with hopes of maybe getting some of their money back.

Impulse buys are impulse buys – not matter how much of a bargain it may appear to be.

“We are going to go broke saving money”.

Basically, when I need to purchase something that’s kind of expensive, I’ll do a quick Google search or hit a few sites (Amazon, etc) to get an idea of what something’s going for and then buy it. But I most definitely don’t go out and buy something unless I truly do need it.

Also, since we are working on budgeting for the next month, impulse buys are pretty much over. If we need it, we can generally wait until the next budget interval to buy it, or it’s an emergency item for something that must be dealt with immediately.

Woman will spend 1$ on a 2$ item she doesn’t need and a man will spend $2 for a $1 item he does.

I’m repeating a sentence and not stereotyping the point is that spending even a dollar on something you don’t need is a waste of money where spending $2 on something you really do need is much more worthwhile even if you’re overpaying.

Sales are meant to clear a product from the shelves of a store – they’re enticing the splurge purchase. The store is still making money and if you didn’t need the product then you’re loosing it. The biggest thing for me to keep in mind when you spend money is are you buying something that you need or truly want or are you buying because you’ve been enticed to buy? I see lots of people spending money for the sake of spending money.

I do like to take advantage of sales at the grocery store if they are items I’ll use and are non-perishable — IF it’s actually a deal. Sometimes, the sales aren’t so great. I also like to take advantage of off-season sales, but only if it’s something I really like and will definitely wear, like a pair of new dress boots (which I need for this winter).

So nowadays when I want something, I google for the best price I can easily find at that moment, buy it, and move on with my life.

I love reading your articles I get so much out of them and reaffirm what I believe.

Thanks

Shawn

You also say “The simple truth is this: if you’re buying something you don’t really need and didn’t really want before you saw it, you’re wasting your money (unless, as I mentioned, you’re going to directly profit from it). It doesn’t matter how good the “deal” is – if it’s something you weren’t planning to buy anyway, you’re just throwing away your money for stuff, and that’s a sure way to put yourself in a worse financial position.”

Which is also not necessarily true. For example, my daughter is 22 months old and about 6 months ago I began buying potty training supplies like training pants and a small toilet seat and potty chair for her. Did I need them at the time? No. Did I “want” them? Well, not sure. But, I ANTICIPATED THE NEED. Bargain hunting for anticipated needs can indeed save a lot of money. Because I was able to pick and choose, because I was not in immediate need, I could choose the better deals. Now that we are actively using the potty training supplies, I do not have to scramble and pay full price.

Once I’m ready to buy, I’ll do some research…

For books, I’m now trying paperbackswap 1st, but then if I’m still going to buy it I’ll try out one of the many comparison sites out there…

My favorite is http://www.booksprice.com, but I also use http://www.isbn.nu from time to time. They’ll show what the best price is online including places like Amazon, Amazon Marketplace, and Buy.com of all places.

For electronics, I check out the following sites to make sure I’m getting the best deal possible…

1) http://www.salescircular.com (is there a local sale in the weekly flyers, here’s where I find out)
2) http://www.dealcatcher.com (uses Pricegrabber if it doesn’t find an advertised online deal)
3) http://www.dealnews.com
4) http://www.pricespider.com (newer service I’ve been trying with mixed results)
5) http://www.live.com/cashback (typically finding better deals above, but not always)
6) http://www.shoplocal.com (might as well see if there is a local deal that’s close to the best deal online, why wait if it’s the same price nearby)

Hope someone enjoys this list, there are lots more deal sites out there, and I search on Google too…

Take care,
Jeff

I’d rather see them lower the amount of tax they take off my paycheck… crooks