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January 8, 2010 You may know or even heard of someone who got a “better deal”. There was a news story not long ago about airline passengers being interviewed and discovering that nearly all the people on the same flight had paid different ticket prices. Just look at websites like Ebay or PriceGrabber and you can find wildly different prices for the same product. It is rare that we all paid the same price for the same things. So, what do you have to do in order to become one of the people who receive the best deals?
-------------------- “Compare at price” or “Manufacturer’s Suggested Retail Price” - This price is intended to make your eyes bug out and make you feel good about this retailer’s “everyday price”. You will be hard pressed to find this particular product for this particular price at any seller’s location. For you, this is not a valid or even reasonable price. “Our everyday price” - While this figure will look conservative listed next to the “compare at price” it isn’t the best price because in almost all cases there will be many opportunities in the future to buy at a lower cost on sale, with better terms, or other incentives. This is just the starting point for the deals! “Our sale price” - It may say “sale” but that doesn’t mean this price is only good now (remember seasonal markdowns and clearances). It may be their lowest price, but is it THE lowest price of all sellers? Based on your research are there times when prices are lower or will there be competitors who can beat this retailer’s sale price? --------------------
SAVE EVEN MORE WITH THESE 3 CREDITS 1) Credit for being a loyal customer: Also be sure to look at the receipt that is either printed or emailed to you. Recently some stores published on their receipts that the more you spend during the holidays you would earn gift cards for future purchases. Giant Eagle’s "Fuelperks" is a good example of a program that rewards your loyalty with future discounts. 2) Credit for referring a friend: If you are purchasing in a store or from a salesperson be sure to ask what incentive they can give you for referring additional business to them. If your buying online be sure to read the company’s posted policies on referred business or even contact their customer service via email or live chat and ask for this information. 3) Credit for buying more than one: What does a salesperson love better than making a sale? Making two sales! It will take a lot less energy for her to sell you another item than trying to make a sale to the next 10 customers that come in just to browse. Many sellers will be happy to give you another discount for making multiple purchases. Finally, ask yourself, how can this purchase have a positive effect your taxes? If you are a small business owner how can this purchase also serve as a business expense? There could be a tax advantage there. Additionally, the day will come when your purchase is no longer useful to you, but remember one person’s trash is another’s treasure. Can you donate this item to Goodwill, the Salvation Army or other charity? If so you can now take the appropriate charitable tax deduction on your taxes thus saving even more money on the amount you spent. For more information visit BowmansMoneyCollege. You are invited to join me at LinkedIn! |
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