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Working Smart With Your Money: Important Tips For “Wise Man” Spending

Spending your money wisely is about getting more for your money. This does not mean to go make unnecessary purchases to say how much you have saved in doing so. An important piece in being smart with your money always involves budgeting. Make sure to have a budget in place to know how much you are even allowed to spend.

 

Don’t Buy On an Impulse

Only shop when you have a need for it. This probably means you need to eliminate mall visits and window shopping trips. Only go to the mall when you need to get something. Stay focused and don’t browse around in other store windows or be tempted to stop into another store because of a big yellow or red tag sale.

 

Compare Pricing

At least once a year get a few quotes and compare prices. Get out your cell phone, cable, electric, auto and home insurance provider, and gas bills. Pull out countless offers you may have received in the mail about switching providers. Crunch the numbers and see if it makes sense to switch. Make sure to check for any early termination fees on behalf of both providers if you are looking at switching.

 

Compare Products Online Before You Buy Them

Check out online sites where you can compare the prices of items you do plan on purchasing. This is especially helpful for electronics. You can compare prices of items at online stores as well as local stores. Be sure to account for the shipping and handling fee if you are purchasing online. Watch the sales ads. Ask your friends that work for retail stores if they could purchase the item for you so you can take advantage of their employee discount.

 

Join Coupon and Other Saving Programs

Another thing to do if you plan on purchasing online is to join savings programs. There are software installations you can get to show you where to save money on purchases. You can sign up on sites to give you a rebate each time you purchase an item through their vendors.

 

Join deal saving sites that offer two for one deals or significant discounts off services you use every day such as gym membership, going to the spa, manicures, discount on tire purchases, and adventure park discounts for the kids. You can even find discount coupons for your favorite and new restaurants. Also, sign up for restaurant programs where they keep a tally on restaurants you visit. You could receive free appetizers and discounts for your birthday.

 

Credit Cards

Usually it’s advised to stay away from credit cards but they can offer great savings when used wisely. If you get a deal for no interest purchases for the next six months or one year, take advantage of this. You can transfer your balance over from another card and save your interest rates. You can also use your credit cards to rack up rewards points. You can turn them in for other items, discounts, or even redeem them as cash.

This article was brought to you by Cambist.

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