Save Thousands by Buying Wholesale
The following article is a guest post by Cameron C. Taylor, author of the book Does Your Bag Have Holes? 24 Truths That Lead to Financial and Spiritual Freedom
www.DoesYourBagHaveHoles.org.
The prosperous have developed the habit of buying things wholesale, where as the poor buy things retail. I am wearing a nice long-sleeve Hathaway Golf® shirt which would cost $50 at a golf shop; however I would never buy clothes at a golf shop. I purchased this shirt new for $2 at a Salvation Army Thrift Store. When my wife and I were looking to purchase a home, we searched for a home we could buy below its value. The home we purchased for $284,000 in 2002 had been valued at $386,000 by the tax assessor, and this was the amount the seller paid property tax on the previous year. I was able to purchase a house at more than $100,000 below its value. The house is now valued at approximately $500,000.
Developing the habit of asking for or searching out a discount on everything you buy can save you thousands of dollars each year. It is helpful to learn the profit margins on various items and then ask for the appropriate discount. They can always give you at least 10 percent off the price, and for some products they can give you up to 50 percent off the price. I enjoy purchasing fine art for my home and offices. When I first was looking at buying art, I had to learn how the industry worked. I spoke to a few gallery owners and found out that galleries buy their art from the publishers for 50 percent of retail price. I saw a piece of art in the home of a friend of mine that I loved. I asked how much he paid for it and where he bought it. He paid $4,800—the retail price for this limited edition giclée print. I went to the same gallery and offered to buy the same picture for $2,800, which was $400 above the gallery’s purchase price, and he agreed. I saved $2,000 simply by knowing the industry and asking for a discount.
You can do the same thing with tires, cars, boats, medical expenses, etc. You can greatly decrease your expenses by learning how to buy items at wholesale and by always asking for a discount. Before buying, always ask, “Is that the best you can do?”
Cameron C. Taylor is the author of the book Does Your Bag Have Holes? 24 Truths That Lead to Financial and Spiritual Freedom
www.DoesYourBagHaveHoles.org
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I believe that is the spirit of Sam’s Club and similar hypermarkets and warehouse retail chains. Even though I’m not sure about paying a membership in order to obtain discount prices when you can save money buying wholesale directly from distributors if you know how to find them out.
[...] Bag Have Holes? 24 Truths That Lead to Financial and Spiritual Freedom, in a guest post over at Not Made of Money, suggests buying “wholesale”. Only he redefines the concept a little bit to mean [...]