As we welcome
a new school year and prepare for the upcoming holidays, now is a good time to
take a look around and see if you can find a few ways your family can save
money. Helping you to kickstart your savings, the following outlines 5 frugal tips that can help you start saving money today!
2. Season of
the Sale. Plan your purchases in
advance to take advantage of seasonal sales. Need bedding or towels? Traditionally these
items are on sale in January. February is
the best time to shop for big screen TV’s . February is also the best time to
shop for next Christmas, as last year’s winter items hit the clearance racks. Further, try buying a new car on the last few
days of the month or year, when your dealer hopes to maximize his monthly or
annual bonus; he just might be in a good enough mood to negotiate a great deal
with you.
3. Never Pay Full Price. Instead of waiting for household basics to
run out, buy them in bulk when on sale. That way you are ready when the Kleenex box
is empty or you need shampoo. Everything
goes on sale eventually; a little patience can go a long way to saving dollars. Also do not be afraid to negotiate a better price.
It never hurts to ask “ Is this your
best price?”
4. Retailer’s Store Policy. It pays to know your retailers store
policies. What are their return
policies if you are not satisfied? How
long do you have to return an item? Will
they provide you with a cash refund (best) or a store credit? Will they price match and what proof do they
require to do so? Will they price adjust if an item that goes on sale shortly after you purchased it? Savvy retailers want your repeat business and
to earn that, they need to keep you happy. Shop where you receive the most respect for your hard earned dollars.
5. Coupons. Love them or hate them, they are here to
stay, and many a diligent shopper has learned how to save hundreds of dollars a
year by clipping and using coupons. Thankfully using coupons is a lot simpler
in the age of the smart phone. See an
item you need? Search the web for a
coupon or a better price offered by a competitor. A few minutes of research can uncover some great
savings, worth the time surfing the net.
By creating
and following a few saving habits you too can be a smart shopper. The dollars you save can be used to help you
achieve important savings goals. You may
even be able to convince your children how the little savings they make each
week can be allocated to an important family goal, like that family holiday. For the adults in your family, saving dollars
on charge cards and at the stores can be put towards your long term goals of
paying down the mortgage on your home, RRSP, TFSA or RESP’s bringing you one step closer to financial
independence.
Feel free to
share your favourite saving tips with us, we will collect the best of them and
share them with our readers in a future edition of the Continuum II blog.
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