Lending Club Blog

5 Tips on How to Save Money on Everything

Everybody shops, whether online or offline, and here are five tips that will save you money on almost every purchase. These methods will save you hundreds if not thousands of dollars per year.

1. Make sure that it’s the right product you want to buy

Once you have decided that you want to buy any product, make sure that there isn’t something better from a competitor and that it hasn’t gone out of production. At a minimum, review amazon.com, epinions.com and Google. Search on “(Product Name) review” and you will see links to several respectable sites that have tested and reviewed the product.

2. Follow the 24-hour rule

It’s been said that it is not the product manufacturers that sell the product, but rather the marketing. Before making a purchase of more than $50 or $100, follow the 24-hour rule. Using this strategy, you will wait 24 hours to see if you are still excited about the product – or if the marketing sizzle has gone away and you can either do without the product or go with an alternative.

3. Use Craigslist

For those of you who are not using this service or don’t have it in your area, you are missing out. You can find almost anything either for sale, trade or free on this site. If you don’t see it listed, you can post a wanted ad and people will contact you with different offers.

4. Look for almost-automatic discounts

Almost every website has discounts and coupon codes that are easy to find. Search on “(Product Name) coupons” and you will be presented with different coupons that you can use to make your purchase. Many times, this simple step can save you hundreds of dollars, especially when you are buying big-ticket items like computers or cameras.

5. Always save purchase and warranty documentation

Nothing is a bigger waste of money than being unable to return a product when it breaks after six months of ownership. If you make the purchase online, make sure to keep the email receipt (i.e., do not delete it). Using an email service like Gmail will offer you easy access to archived messages with a quick search to find it. If it’s offline, find a safe place to store everything in one place.

Saturday, August 16th, 2008 at 6:00 pm

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