What exactly does it mean to be smart with money? Among other things, it is about knowing what is worth your money and what’s worth holding off on until a promotion comes along.
Knowing how to shop smartly and understanding how retail stores operate can help you find incredible savings opportunities.
However, there are some things you should never pay the full price for, and if you do, you are wasting money.
You cannot usually barter down the price of a car, but a little bit of research goes a long way to ensure you don’t spend more than you need to on a specific car.
Therefore, you should always compare the price of a car at different dealerships, even if it means calling the dealership to discuss pricing.
Technically, you do not need a gym membership at all. There are so many online resources available for those who have a small amount of free space at home and nothing else.
However, if going to the gym is a must, consider waiting for a special promotion at your gym of choice (just read the fine print) or seeing if your workplace offers discounted rates for partner gyms.
Luggage can be costly, and good-quality luggage can last you a long time.
Shopping for luggage around March or August is ideal for saving, especially on luggage bundles that can cost hundreds of dollars.
Many department stores also sell brand-name luggage for less than the retail price.
You do not have to risk your safety during Black Friday sales to get a deal on televisions. Those sales are on big brands, which are not always worth the price tag if you are not a constant television watcher.
If you watch casual television, you are better off waiting for a smaller brand to go on sale throughout the year.
Vitamins can be pricey, but you can save a lot of money if you look beyond the brand names and wait for promotions. The name on the label does not mean much, considering most vitamins are all the same, just with different packaging.
Most appliances, other than fridges, tend to go on sale in the fall to make way for new models. Fridges will usually go on sale in the spring.
Appliances are also often discounted dramatically for minor, aesthetic damages, which can be easily concealed. So, if you are okay with your appliances not looking 100% brand new, you can save a ton of money.
If you have a particular destination in mind, it is worth signing up for some travel alerts to see when hotels, rental cars, and even airfare go on sale.
It would help if you also looked at any rewards cards you must see how many you need to save to earn additional savings for your trip. You can also get creative about where you stay by considering accommodation outside of hotels.
Lawnmowers are one of those items where “expensive” doesn’t equal “quality.” The best time to buy lawnmowers and get a good deal is in the fall. Stores will want to get rid of lawnmowers in the fall, so they have room to take in next year’s models and get them marked down significantly.
We all need to eat, but we can spend so much money on groceries that do not need to be spent. Stock up on staples that last in the freezer or pantry when on sale, and do not be fooled by expensive brand names. You should also utilize online flyers and price matches where possible.
Slashing our budgets or saying no to essentials is not feasible for us. However, we can save a lot of money when we avoid spending more money than necessary by patiently waiting for a sale or shopping at the right time.