Архив за » May, 2008 «

How to avoid impulsive buying and how to save by comparing prices

How to avoid impulsive buying and how to save by comparing prices

Saving money becomes very important, especially in times of recession. Our life style would not be affected if we conserve water and energy, and in the process it reduces the bills and add to the savings. Buying from a budget store that offers low prices or companies that offer better services for the same price, we can reduce expenses considerably. One must contemplate whether the expensive product or service is really worth the money or not.

Since there are lots of companies & brands in dealing in ordinary products like food and grocery items, competition amongst them for bigger market share ensures we get a better deal. People are hesitant to change brands because they are used to consuming them and trust their quality, even if a competitor offers a better deal. They fear experimenting with new products that offer value for money.

Now we need to compare prices of products that we do not buy regularly. Products like Digital Camera, Televisions, media players, music players like iPods etc. Getting a good deal on these products require a little bit of research and effort than those cheaper products. Here cheaper does not mean compare price only, but the need to know the features that it offers apart from the normal ones do at a given price. One must look at what are the capabilities and features that product offers. Some products carry features that one may not need as these only raises the price of the product without offering any valuable benefits. There are cheap products that do not match your needs or features that you don’t need but would be nice if you had them.

Freebies like accessories add value to the product are to be considered while buying them. For the same price if they offer a free accessory, then it definitely a good deal. Once must also consider the rebates that some companies offer to ward off competition while looking for a good deal as it brings down the price and saves money. Hence before striking a deal, one must consider the overall value for money the product offers.

Services like telephone, electricity and credit cards which occur monthly, one cannot compare  prices but one must know how much it impact you in the long run. One should consider changing to a different card that offers a better package like lower interest rate and transfer the balance to them as the future benefits big. While choosing mobile phone services, look into the monthly cash outflow rather than those feature rich high end handsets they offer. One cannot do much comparison with the electricity service provider, but by using energy saving devices one can save a lot on monthly bills. In the long run you save a lot with these devices, although these cost more than the normal ones.