Have you ever marvelled at some of your friends at how good they are at spending even though they are on a tight budget?
Greg Smith of Lifestyle money shares his hints and tips of bargain buying, comparison shopping and more.
Well wonder no more as here's a few secrets of smart spenders:
* Plan your spending - regardless of what you are going shopping for always have an idea of what you are going to buy and how much you are willing to spend.
This not only applies to your grocery shopping list but when you are shopping for clothes etc. Write down what you want to buy and take that list with you - you'll be surprised how controlled your spending can be.
* Work out the difference between your needs and your wants - make two lists one headed needs and the other wants and prioritise them. Focus on achieving the needs list first and constantly look for ways to get more for less.
The savings made here can then go towards buying some of your wants. Sometimes a bit of restraint in the short term can give you what you want in the long term.
* Comparison shop - always do your homework first and look for the various places that offer what you want for a better price. For items like clothing and appliances never buy on first sight.
Always take note of the item, it's price and the shop. Then check out other shops or use a buying service (see below). It may take a bit of time to find the places where you can get more for less but it will be time well spent.
You will find lots of Bargains at: OO.com.au - Australia’s Largest Online Clearance Department Store and
Deals Direct - Why pay retail when you can get up to 80% off RRP.
* Use a buying service - there are many buying services available that can do most of the running around for you and save you a fair amount of money. Visa Best Buys (www.best.buys.com.au or 1800 659 550) is one example where you can buy many different items at significant discounts and earn reward points at the same time - all without leaving home.
Likewise you can use a company like
Private Fleet to buy a new car - also without leaving your home.
* Use someone else's money - credit cards and the no deposit no interest deals are great ways to buy things, however the key is to pay your cards off in full within the interest free period and not miss a payment on the no deposit deals.
Use these facilities right and you can not only earn reward points plus you will be able to spread the payment of a large purchase over a longer period so that it doesn't eat too much into your monthly budget.
* Take advantage of discounts - Don't just blindly throw out the "junk mail" that finds its way to your letterbox. Chances are that much of this supposed junk contains coupons or vouchers that can save you a fortune.
If you feel embarrassed to use a coupon or voucher remember this - you are spending smarter and the people who have the vouchers and choose not to use them are wasting their money.
This article is courtesy of Greg Smith of Lifestyle Money