Saving Money On Everyday Purchases
- Date: 2007-06-28 - Word Count: 773
Share This!
"Everything goes up but your pay", is the mantra repeated by many people that I encounter. Just recently, electricity rates increased 50% where I live, due to a moratorium placed on rates several years ago. As they say, "you can pay now, or pay later". The truth is, the cost of most goods and services continue to increase, and just trying to maintain a basic standard of living becomes more difficult as time passes. The government, for it's part, plays games with statistics to make us believe things aren't quite so bad as it seems, by excluding 'food and energy' from their Consumer Price Index of prices. The last time I checked, anyone that resides above ground has to eat, and only the Amish manage to get by without using cars for transportation to work and other places. For those of us living in the real world, prices continue to climb on everyday purchases. It's not all bad however, because there are ways to save money on life's basic necessities, and most require no sacrifice other than a change in buying habits.
As mentioned, we all have to eat, and for most families food is one of the largest expenses they occur. One of the ways that you can save large amounts of money on food and other purchases is to join a Wholesale Club such as Costco, Sam's Club, B.J.s, or some other outfit. The cost is minimal, usually $35 or so a year, and you'll save many times that through the course of the year. One of the problems with Wholesale Clubs is that you have to purchase many products in bulk. This can be overcome by joining a Co-Op or starting one of your own with family members. Make a list of things that everyone uses, such as laundry detergents and other household staples, and after purchase, distribute them throughout the group. You can also save money by purchasing some food products at 'Dollar' Stores and other places that offer substantial savings. Another way to save money on food is by purchasing off brand products. While in some cases there may be a drop off in quality, I've found that many times the off brand products compare favorably with the name brands.
Another large expense for most of us is insurance. One way to save money on car insurance is simply by raising your deductible. I've been able to save up to 40% on my car insurance by raising my deductible from $200 to $1000. Of course there is the risk that you could have an accident and be responsible for the larger deductible, but if you're basically a safe driver and manage to go a few years without an accident, your savings will more than make up for any costs you occur if you are involved in an accident that's your fault. I have saved several thousand dollars over the course of a few years by raising my deductible. You can use the same approach with healthcare. If you're one of the millions of people without a health insurance plan because you're self employed, unemployed, or some other reason, you can cover your most expensive potential costs by purchasing a 'catastrophic' health insurance policy. While these type of policies won't cover much of your basic medical expenses, they are much more affordable, and will usually keep you from incurring medical expenses that could ruin you financially.
One way to save money on apparel is by purchasing out of season. Most of the larger stores are setup to display merchandise a season ahead of schedule. You'll often find Summer clothes on display in Spring, Winter apparel in Fall, etc. Department stores will usually try to unload unsold merchandise before the next season's selections arrive, and will often offer huge discounts to move this merchandise. Look for the transition in clothing at the stores, and be prepared to move fast to get the best selection. I have also been able to save 50% or more at some of the Outlet stores that are popping up all over the country. Just be aware that just because a place calls itself an 'Outlet Store', doesn't mean they're selling items at discount prices. Having a knowledge of retail prices on items will help you to determine whether or not you're getting a great deal.
Like death and paying taxes, another given is that things will cost more in the future then they do today. While it's impossible to eliminate these costs completely, there are things that you can do to lower the costs of essential items, and keep more of your hard earned cash in your pocket.
As mentioned, we all have to eat, and for most families food is one of the largest expenses they occur. One of the ways that you can save large amounts of money on food and other purchases is to join a Wholesale Club such as Costco, Sam's Club, B.J.s, or some other outfit. The cost is minimal, usually $35 or so a year, and you'll save many times that through the course of the year. One of the problems with Wholesale Clubs is that you have to purchase many products in bulk. This can be overcome by joining a Co-Op or starting one of your own with family members. Make a list of things that everyone uses, such as laundry detergents and other household staples, and after purchase, distribute them throughout the group. You can also save money by purchasing some food products at 'Dollar' Stores and other places that offer substantial savings. Another way to save money on food is by purchasing off brand products. While in some cases there may be a drop off in quality, I've found that many times the off brand products compare favorably with the name brands.
Another large expense for most of us is insurance. One way to save money on car insurance is simply by raising your deductible. I've been able to save up to 40% on my car insurance by raising my deductible from $200 to $1000. Of course there is the risk that you could have an accident and be responsible for the larger deductible, but if you're basically a safe driver and manage to go a few years without an accident, your savings will more than make up for any costs you occur if you are involved in an accident that's your fault. I have saved several thousand dollars over the course of a few years by raising my deductible. You can use the same approach with healthcare. If you're one of the millions of people without a health insurance plan because you're self employed, unemployed, or some other reason, you can cover your most expensive potential costs by purchasing a 'catastrophic' health insurance policy. While these type of policies won't cover much of your basic medical expenses, they are much more affordable, and will usually keep you from incurring medical expenses that could ruin you financially.
One way to save money on apparel is by purchasing out of season. Most of the larger stores are setup to display merchandise a season ahead of schedule. You'll often find Summer clothes on display in Spring, Winter apparel in Fall, etc. Department stores will usually try to unload unsold merchandise before the next season's selections arrive, and will often offer huge discounts to move this merchandise. Look for the transition in clothing at the stores, and be prepared to move fast to get the best selection. I have also been able to save 50% or more at some of the Outlet stores that are popping up all over the country. Just be aware that just because a place calls itself an 'Outlet Store', doesn't mean they're selling items at discount prices. Having a knowledge of retail prices on items will help you to determine whether or not you're getting a great deal.
Like death and paying taxes, another given is that things will cost more in the future then they do today. While it's impossible to eliminate these costs completely, there are things that you can do to lower the costs of essential items, and keep more of your hard earned cash in your pocket.
Related Tags: finance, save money, discount, outlet shopping, discount shopping, saving money, money saving tip
Bill Thomas is actively involved in finding ways to save and make money. He also contributes articles on business and other topics from time to time. His current website is...Make Money With Incredible Free Marketing System Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are