Not Made Of Money

We’ve developed a method of saving money that we use when contemplating purchasing an item.  We call it our money saving system but it is really just a method that we’ve used for a long time.  It usually applies to the larger priced items, but the basics can also be considered for any purchase of any dollar amount.  

1.  We ask ourselves is this item a want or a need?  Sometimes it is difficult to tell.  We may want something so badly that we think we need it.  For example, my kids needed new tennis shoes but they didn’t need the ones with the roller skates. 

2.  Can this purchase wait for a while?  Sometimes this item won’t need to be purchased immediately or even within the next week.  You can get the best price by giving plenty of time to shop for a sale, discount, or clearance.  Planning ahead is key to saving money on purchases and especially buying an item during its off season. 

3.  Brainstorm a list of alternatives.  This includes brand names and the various features needed in the item.  We always ask “how can we get _________ for less?”  Then make a list of these alternatives and their corresponding prices, arranging the list in order from the least expensive to the most expensive.  Sometimes seeing the numbers can help you to decide what features you really need and which ones you can do without.

4.  Comparison shop for the actual item you decide on.  Visit the various stores who carry the item and check out their prices.  Make sure you are comparing the same item and brand name.  Write down model numbers and prices from each store you visit. 

 

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