Wealth Finance

Here are some tips you can use to be a smart buyer and keep from spending too much. These were originally posted in July of 2010:

Tip One: Smart Buyers Do Not Use Credit Cards. The reason is that you will spend more money. Study after study has proven that credit card usage leads to higher spending. Use a Debit Card instead, which limits your spending to the amount of cash in your account.

Tip Two: Smart Buyers Do Not Impulse Buy. Most of us, when confronted with an item we want are quick to pull out the Credit Card to satisfy the urge. This will separate you and your money quicker than anything. Better it is to show discipline and ask if you really need the item and if so, is now the time to make the purchase, or can it be put off until you can search for a better price.

Tip Three: Smart Buyers Watch for Scams. When shoppers see the word rebate’ the dollar signs light up in their eyes. The fact is that only about half of rebates are ever redeemed. And, then the companies that offer them are sometimes less than honest by creating a short time period in which you can obtain the rebate. Or worse than this is when they send your rebate check in an envelope that looks like junk mail. The best types of rebates are the ones that are offered instantly at the time of the sale.

Tip Four: Smart Buyers Are Not Tempted by Free’ Offers. True, we all like to get things that are free, but overpaying on an item just so that we can get a freebie’ is not a good idea. Offers of free’ stuff are really designed to take your focus off of the item that you are purchasing.

Tip Five: Smart Buyers Do Not Pay A Year In Advance On Memberships. Most of us find it difficult to stick to a commitment on memberships like health clubs. If you need to get healthy and a club membership is the way to go then pay on a month-to-month basis. You will be glad you did.

These shopping tips will help you keep more of your money. And all of us need to do more of that these days!

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