How to Save Big on Big Purchases

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In today’s culture of instant gratification it seems so counter intuitive to even contemplate a purchase that seems so immediately necessary. With the availability of so many “buy now, pay later” gimmicks, one questions looms largely in the mind of the consumer, “why wait???” It is obvious that sales people love to prey on that very part of our human nature- we want it NOW! Its even as though our culture has insidiously introduced some sort of entitlement gene into humans that has turned us all into a new race of idiotic, in-discriminating “uber consumers.” In order to stem the rising tide of personal debt, consider some tips to mull over to save a chunk off that bottom line.

Be a shrewd consumer- shop around!

 

Shop around and be realistic. We live in this place in America where chances are, the item you are saving for is a. likely to go on sale at some point, and b. carried by several different vendors who would love to have you as a customer and give you a great deal. Don’t be afraid to play the “Price is Right” game with the sales people. Many companies offer a low price guarantee and claim that “WE WILL NOT BE UNDERSOLD!” Take them at their word and shamelessly call them out on this! You will be glad you did.

Small sacrifices can lead to big rewards down the road

 

It may seem like an insurmountable task to pinch wads, but start with pinching pennies and make your progress measurable. Saturday breakfast out? Invite a friend over and fix him/her breakfast for a fraction of what you’d pay at some greasy spoon on the corner. Think you can’t go without that $5.50 Mocha Chai Latte on your afternoon lunch break? Think again- these small sacrifices may seem like chump change but these minor sacrifices can really add up and get you on your way to achieving your goals- and you can take that to the bank!

Cash is KING!

 

Making a big purchase is a lot like playing poker- don’t lay all your cards down at once. Even though you have the total amount necessary to purchase your item, see if there is any room to negotiate if you start laying down the green backs. It will show the seller that you are a serious buyer and with cash in hand, many times sellers are willing to forgo certain fees and built in charges giving you, the buyer more leverage.

Be ready to walk away

 

There is nothing that says, “we’re through” like picking up and walking out of a deal making session. Some might call it a deal breaker, but I beg to differ. Walking away from a “final, rock bottom offer” if it is not up to (or down to) your “rock bottom” offer can really make a statement. Be sure to leave your contact information with the sales person and let them know that you are ready to play ball but not liking the terms of the game. More times than not, you will be getting a call back and be back in the game of negotiating for that best price.

What more gratifying than saving big on a big purchase? It’s so hard to deprogram ourselves in today’s fast paced consumer driving culture, especially when getting something immediately seems more the norm. Taking the time to shop around, budget for savings, and make an informed strike at the right moment can offer up huge rewards on that big purchase.

Lindsey Grant is a financial writer and writes for finance blogs  http://www.financialcalculator.org/investing/

2 Comments For This Post

  1. Chris @ StockMonkeys.com Says:

    The art of negotiation is an important skill. It also doesn’t hurt to ask as the worse thing the retailer will say is no. Most people aren’t willing to either sacrifice or walk away as everyone wants instant gratification no matter the costs.

  2. Pam@Pennysaverblog Says:

    I agree that cash is king – or that you use your credit card to rack up the rewards and then pay it off with cash ASAP. Don’t buy it if you can’t afford it, that’s for sure.

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