Compare prices.
- With the Internet, comparison shopping has never been easier. Once you have identified what you want to buy, find out if it can be bought online. With reduced overhead, many online sellers offer deeply discounted prices. When shopping online, be sure to include shipping charges in your calculations. If you are still not satisfied with price, you might take advantage of "name your price" Web sites like or . Of course, you will also want to check prices in catalogs and at your local stores.
Treat the list price as a starting point.
- If you want $100,000 for your home, you might ask for $110,000, so you would have room to negotiate. Sellers do the same thing as they mark up items from as little as 5 percent to as much as 100 percent or more. Big ticket items like a car often have small markups in the 5 to 12 percent range; whereas, smaller items like books may be in the 50 to 100 percent range. Knowing the difference in the asking price and the real price will help you in your negotiations. There's no harm in asking for a discount as the worst thing the salesman can say is no.
Know when to buy.
- Savvy consumers buy products when they're out of season. They buy new cars at the end of the model year when dealers are trying to clear the lot for next year's models. They buy fall and winter clothing when they go on sale after the holidays. They travel to vacation spots in the off season. They buy air conditioners in the winter and heaters in the summer. You can save lots of money by buying out of season but it requires planning.
Ask for sales price protection.
- Have you ever bought a big item like a mattress only to open the newspaper the next day and find out that the store had dropped another $50 off the price? Some stores will give you the difference if you ask. Of course, it's best to ask if you will get any additional savings at the time of purchase.
Find out the best way to buy the product.
- Should you buy a paperback at your local bookstore or go instead to one of the online book? To answer this question, you have to compare the prices and factor in the shipping charges as well as arrival times. You'll soon be able to buy a car online and just about everything else is already available online. Depending on what you're buying, it may be less expensive to buy at a local store than online or through a catalog. The key is to find out.
Think about joining a sales club.
- Purchasing organizations like Sam's Club buy large quantities of items and pass the savings along to their members. These clubs offer big savings and big quantities. While great for non-perishable items like toilet paper and cleaning supplies, their food portions which may include 30 hot dogs might be too big for some families. Even with the bulk buying, savings clubs do not always offer the best deal.