397 Ways to Save Money: Spend Smarter & Live Well on Less - PDFDrive.com
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interestandcompoundovertime—soitmakeslittlesensetoholdonto
themforyears.Alsobeawarethatloyaltyprogrampointscanexpireif
you fail to continue collecting for a set number of days. Cash in your pointsassoonasyoucantosaveyourrealmoney.Checkoutweekly
dealsandspecialsontheprogram’swebsiteforgreatrewardsforfewer
points. BOTTOM LINE: Buying products and services with loyalty
program points can save you from spending your real dollars. Just be suretouseyourpointsbeforetheyexpire.
Buyrefurbisheditems. Buyingarefurbishedlaptop,vacuumcleaner orappliancecansaveyouhundredstothousandsofdollars.Refurbished
modelsareoftenitemsreturnedtothestorefornoreason,thentestedat a factory to make sure they’re in perfect working order. Defective or damagedpartsarereplacedandtheunitissoldforadeepdiscountin
retailstoresandonline.Whenlookingtosaveonarefurbishedproduct, besuretobuyonlyfactory-certifieditems,whichhavebeenreturnedto andtestedbythemanufacturer.Factory-certifiedrefurbisheditemsmust carryafullmanufacturer’swarrantytobeworthyourvaluabledollars.
Be wary of products labelled “reconditioned,” as these may be used productsthathavebeenleasedandthenrepairedbyaretailer.
BOTTOMLINE:Buyingrefurbishedelectronicsandappliancescan
save you hundreds and thousands of dollars if you shop around online.Askretailersiftheycarryrefurbishedmodelsonsitetoget thedealsooner.
Buy from wholesale superstores. Go shopping at wholesale
superstores like Costco and Sam’s Club to pay 20% to 40% less over regularretailstores.Inadditiontosavinglotsofmoney,buyinginbulk meansyoumakefewertripsandcansaveongas.Butbewaryofgetting
suckedintobuying10litresofmayonnaise.It’snotagoodbuyifyour
“great deal” ends up rotting in your fridge, leaving egg on your face.
Andcomparisonshoptomakesurethatyoursavingsareworththecost
ofmembership.
BOTTOM LINE: Shopping at wholesale superstores can save you
20% to 40% on food, clothing and household items over regular retailstores.
Shop at off-price department stores. Check for deals at off-price department stores like Winners where brand-name clothing, footwear, bedding,furnitureandhousewaresareavailablefor20%to60%below
regulardepartmentandspecialtystoreprices.Butbeforeheadingtothe registerwithyourfabulousfinds,besuretoexamineeachitemclosely
fordamage,andwatchoutforfactoryseconds.
BOTTOMLINE:Save20%to60%offbrand-nameitemsbyshopping
atoff-pricedepartmentstores.
Pass on extended warranties. Don’t buy extended warranties on inexpensiveproductslikecamerasandkitchenappliances.Theonlytime
a warranty makes sense is if a repair will devastate your budget.
Warrantiessoldatthecashregisterearnretailersbigbucks,costingyou majorbucksinaddedfees.
BOTTOMLINE:Passonbuyingextendedwarrantiesoninexpensive
products and save yourself from spending an extra $10 to $100
dollars.Popthatcashintoyouremergencyfundinsteadsothatyou
cancoveranyneededrepairs—andwatchyourinterestgrowinthe
meantime.
Avoidbuyingoncredit. Onlybuytodaywhatyoucanaffordtoday, eveniftheitemisonsale.Creditcardinterestchargescanerodeany
advantage a sale item might have garnered. Instead, stick to shopping with the dollars you have today and start saving up for tomorrow’s irresistibledeals.
BOTTOMLINE:Ifyoudon’thavethemoneytopayoffyourcredit
cards, avoid shopping even if the item is on sale. Credit interest chargescostyou15%to20%ayearanderodeyoursavings.
Shopoutofseason. Savesomeseriousdollarsbybuyinggoodsoutof season. Buy winter boots in the spring, get wrapping paper after Christmasandbuyabikeinthefall.Buyinggoodsoutofseasonmeans
finding end-of-season sales, reductions and clear-outs, saving you as muchas75%offtheticketprice.
BOTTOMLINE:Shopoutofseasontosaveupto75%.
Buyuseditemsthroughtraditionalsources. Needsomefurniture, books,clothingoracar?Buyingusedgoodsnotonlysavesontaxesbut
savesyoufromspendingtopdollaronretailpricing.Buyinguseditems
in excellent condition from traditional sources like garage sales, classifiedads,friendsandfamilycansaveyouatleast50%.Itmaytake
timetofindexactlywhatyou’relookingfor,butgiventhesavings,the timespenthuntingismoneyinthebank.
BOTTOM LINE: Before hitting the shops, look for used household itemsinclassifiedadsandatgaragesalestosaveover50%.
Buyuseditemsonline. TheInternetisabeautifulthingforbargain hunterslookingfordealsonuseditems.TheInternetisopen24hoursa dayandisanexcellentresourceforfindinglocalpeoplewithusedstuff tosellatrock-bottomprices.Siteslikecraigslist.ca,kijiji.caandebay.ca are amazing resources for finding everything you need, from a used kitchen table to baby gear for Junior. Be sure to find your city in the searchesanddealonlywithlocalsellerstominimizetherisksofdubious dealings.Buyinglocallyalsosavesonshippingcosts,whichcandefray
thebenefitsofbuyingused.
BOTTOM LINE: Use Internet classified sites to find deals on used items,butsticktolocalsellerstopreventunsavourydealingsand
tosaveonshipping.
Shoponlineusingpromotionalcodes. Whenyou’reinthemarketto buy new merchandise, it’s well worth your time to check out online retailerslikeOverstock.comorthewebsitesofbrick-and-mortarretailers like Sears.ca or Futureshop.ca. Many retailers offer deeper discounts onlinethanintheirstorefronts,savingyouanywherefromafewdollars tohalfofyourpurchaseonsomeitems.Whenshoppingfornewitems
online,alwayslookforpromotionalcodesbeforeclicking“Buy”inyour
shopping cart. Sites like retailmenot.com and redflagdeals.com boast strong communities who post coupons and codes to save you bigger bucks on purchases in many categories, including travel, electronics, financial services, entertainment, apparel, automotive, housewares and food.Anothergreatwaytofindmoney-savingpromocodesistotypethe
desiredretailer’snameandthen“couponcode”intoyoursearchengine.
Youmayhavetotryseveralcouponcodesbeforefindingonethatworks
—butyou’llgetluckyeventually,sobepatient.
BOTTOM LINE: Find online promotional codes with sites
retailmenot.com and redflagdeals.com and save up to 50% when
orderingservicesornewmerchandiseonline.
Don’tpayforshipping. Lookforafree-shippingoptionwhenbuying fromanonlinestore.Gettingyouritemsshippedforfreecouldsaveyou tensofdollarsorapercentageoffthetotalpriceonyourorder—soit
paystoshopforshippingdeals.Manyonlineretailersofferfreeshipping when you buy up to a specified dollar amount in merchandise. If you aren’tofferedfreeshippingbeforecheckout,thenlookforpromotional
codes through retailmenot.com and redflagdeals.com to cut on costs.
Anothercreativemethodforsavingonshippingistoorderonlinefroma store that also has a brick-and-mortar storefront and opt for in-store pickup—forfree. Notonly willyou qualify forweb-only discounts not offered in the store but you can get your merchandise much faster by pick
ingitupinperson.Afriendofmineusedthismethodtosave$50
offthepriceofaDVDplayerbyvisitingthestoreinpersonandordering the player using his cell phone web browser—he waited only a few minutestopickuphispackage!
BOTTOM LINE: When shopping online, pick up merchandise in
persontosaveonshippingcharges.Iftheonlineretailerdoesnot
haveastore,findpromotionalcodestosaveonshippingcharges.
Searchfreecycle.orgforfreegoods. It’softensaidthatoneperson’s trash is another person’s treasure. This is certainly the case with the popular free-goodies website called the Freecycle Network, an
internationalcommunityrecyclingprojectsharingusablegoodsforfree.
With the Freecycle Network, members post messages to local groups offeringtheirusedgoodslikefurnitureandclothingforfree.Ifyoufind something you like or need, just message the owner and arrange a pickup!JoiningandusingFreecyclecostsnothing,andyouneverknow
whatyou’llfindbywatchingpostings.Somemembershavefoundfree
kitchen cabinets, sports equipment and winter clothing for free.
Shopping for other people’s unwanted goods not only saves you huge dollarsbutreduceswasteinlandfills.
BOTTOMLINE:Youcouldpickupausedpatiosetforfreethrough
theFreecycleNetwork.Visitfreecycle.orgtofindtheclosestgroup
inyourarea.
SellingTactics
Take a look around your home and open sealed boxes, peek into the backofclosetsanddustoffforgottenCDs.Ifyouseethingsyouhaven’t used in months or years, raise some funds and clear some space by selling your used stuff locally. There are lots of ways to make money from your quality clutter, from traditional garage sales to free online classifiedwebsites.
Sellyourstuffthetraditionalway. Weseethemmostweekendsin thesummer:signsadvertisingneighbourhoodgaragesales.Ifyou’vegot
some stuff to sell, then hold a garage sale to unload your extras and make some money. Contact your neighbours and see if they too have saleable items and make it a street party to entice bigger crowds. If you’re not into hanging out in your garage on Saturday, then place a classified ad in the local newspaper to reach a targeted community.
Classifiedscanstartat$10perad,dependingonwhatyou’reselling.If most of your used goods are gently worn shoes and brand-name
clothing,thenlookinyourareaforconsignmentstorestosellyourstuff.
Consignmentstoresaregenerallysecond-handshopsthatsellyourgoods
while you retain ownership—until sold to a customer. Upon sale, the consignmentshopearnsaheftycommissionrangingfrom40%to60%of
thetotal.Despitethecommission,consignmentshopscouldbeyourbest
bet to recoup some money from items otherwise sitting around and collectingdust.Somemoneyinyourpocketisnotabaddeal.
BOTTOM LINE: Sell your quality goods through newspaper
classifieds,garagesalesorviaconsignmentshopstorecoupatleast 10%oftheinitialcostofyouritems.
Sellyourstuffforfreeonline. Ifyou’vegotstufftosellandyou’re willingtowriteadescriptionandtakeagoodphoto,thengoonlineand hawkyourwaresforfreeoncraigslist.caorkijiji.ca.I’vesoldmanyitems I no longer needed and recouped up to 60% of my purchase price by using these online classified sites targeting local buyers. Setting up an account is free, and the sites keep your email address hidden from prospective buyers until you initiate contact. Here are some points to considerwhensellingwithonlineclassifieds:
1. Before you start, search for listings advertising items
similartoyourowntogetafeelforhowmuchtochargefor your item. Also take note of which product descriptions
wouldenticeyouasabuyerandwhichonesjustfallflat.
2. Postyourclassifiedadwithasmanydetailsandphotosas
possible.Saveyourselffromhavingtoanswerendlessemails
requesting additional details by posting a complete
advertisementattheget-go.
3. Be upfront with payment terms. If you want cash then
state,“Cashonly,please!”Bereadyforcost-consciouspeople
emailingyoutohaggleonpriceorbarterfortrades.Ifyou’re
notwillingtohaggleorbarter,thenusethestatement:“Item
ispricedasmarkedandnotradeswillbeaccepted.”
4. Be prepared for people to email looking for you to ship yourwaresoutoftown.Savemoneybyonlysellingtolocal
residents. I’ve always included this line in my ads: “Local
offers only.” That ensures I can meet prospective buyers in
person and collect payment in exchange for the item.
Labelling your ad with the right geographical location may
helpaswell.Also,ifyoudoshipyourgoods,tobedoubly
safe,don’tshipuntilyou’vereceivedpayment.
5. Prepare your items for showings by keeping them clean
andpresentable.Bepreparedtoanswerquestionsonusage,
age and warranties. If you’re meeting with a stranger,
arrangeanappointmentinapublicplaceandbringafriend
tobesafe.
6. Sticktoyourpriceanddon’tfeeldisheartenedifthedeal
falls through. The Internet is a big place, and it may take
some time to connect your goods with the right buyer. If
you’renotgettingmuchinterest,considerrewritingyourad
andpostingnewphotos.
BOTTOM LINE: Selling your stuff online with free classifieds sites kijiji.ca or craigslist.ca can earn you extra cash from the clutter sittinginyourcloset.Theamountofmoneyyouearndependson
theage,conditionanddesirabilityoftheitem.
Donategoodstothoseinneed. Ifsellingyourstuffisnotanoption, consider donating to a local charity or shelter or offer it through the FreecycleNetworkviafreecycle.org.Givingawayyourunwantedthings
may just help someone in need and encourages neighbourhood
recycling.
BOTTOMLINE:Ratherthanthrowyouritemsinthetrash,donate
them to organizations that help others in need. There isn’t any financial incentive here unless you’re moving, in which case
cuttingdownonclutteralsocutsdownoncosts.
PARTTWO
HomeManagement
Adding up your bills and calculating how much you spend on energy costs,homemaintenancechargesandcleaningexpensesmayjustshock
you. It’s amazing how the everyday costs of powering a television or cleaningyourcountertopscanaddup.Inthissectionyou’lllearnabout thepowerofsavingonenergy,thevalueoftakingcareofyourspace
andthebuckstobesavedwithinexpensivebakingsoda—seriously!You
may just feel inspired to turn down the heat by even one degree and thinktwicebeforethrowingoutyouroldtoothbrush(andsavehundreds
intheprocess).
CHAPTER5
HomeMaintenance
Regular home maintenance is money in the bank. It sounds
counterintuitive, spending on repairs to become richer, but it’s true.
Inspectingyourhomeonaregularbasisandmaintainingitwithcareis
thebestwaytoprotectyourinvestmentandtopreventlargerproblems
frombreakingthebankinthefuture.
/> Gettingintothehabitofseasonalmaintenanceisquickandeasywhen
youknowwhattolookfor.Justsetasidesometimeeachmonth,season
or year to check for cracks, peer into vents and put a stop to costly problemsbeforetheyoccur.Inmanycasesinspectingandmaintaining
your home is free, and the minimal cost of small fixes is a smart investment in the overall health of what is probably your largest investment.
Replace batteries in carbon monoxide detectors and smoke
alarms. Checking the batteries regularly in your smoke alarms and carbon monoxide detectors is free and could save you from losing everythingyouowninahomefire.Batteriesareaninexpensivewayto
protect your home and loved ones. Many local fire departments
recommendchangingthemtwiceayeartomatchthespringforwardand
fallbackofdaylightsavingstime.
BOTTOM LINE: Buying replacement batteries for $2 to $5 could save you from having to spend thousands to repair home and
property damage and may save you some dollars on your home
insurancecosts.
Checkpressureinfireextinguishers. Ittakesonlytwominutesonce a year to check the pressure gauge of your fire extinguisher. Fire extinguishersaresoldbytheweightoftheactiveingredientusedtoput out fires. A small extinguisher, weighing 2 pounds, costs $25, while a
largerone,weighing6pounds,costs$70.Theminimumrecommended
sizeforakitchenunitis2.5pounds,althougha5-poundunitisidealin caseoflargerfires.Getanextinguisherwithametalnozzle,notplastic
—fire equipment service companies often only recharge metal-nozzle units.Ifyourextinguisherrequiresmorecharge,lookonlineforalocal fireequipmentservicecompanytodothejobsoanefficientwaytoput
outfiresisalwaysrightathand.
BOTTOM LINE: A fire extinguisher may cost $50 to purchase and $10 to recharge, but when kept in your kitchen it could prevent thousandsofdollarsindamage.