Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Sunday, June 22, 2014

Ways to Be a Smart Shopper


 

What makes a person a smart shopper?  Smart shoppers are people who know how to stretch a dollar and how to find the best deal.  They use coupons, discounts, and store deals in order to save money.  They are not swayed by fashion or economic trends.  So, how do you become a smart shopper?  Simple.  Use the following strategies and watch your savings add up.

  • Have a budget and stick to it

One of the main things that a smart shopper knows is to construct a shopping budget and then stick to it.  A budget will let you know how much money you can afford to spend during your shopping trip. Having a budget will also help prevent any impulse spending.  By being able to look at actual figures, you will be able to stay more focused on your goal of saving money while getting the things that you really need.

  • Plan a menu

A smart shopper also knows that menu planning can help them save money and prevent food from spoiling.  Check your pantry and refrigerator. Then, plan your menu around the foods you already have.

  • Have a list

How many times have you headed off to the store with a product in mind that you needed to buy only to realize that you forgot what it was once you got there? Before heading out to the stores, a smart shopper will have a detailed shopping list and know where it is at all times during their shopping trip. They will also use that shopping list religiously.

  • Check sales papers

An important rule of money saving is to check sales papers.  Never, never go shopping without checking the sales papers first.  There is nothing more heartbreaking than to purchase an item at one store only to find out after you get home that the item is on sale at a store only a few blocks away.  Be sure that you have a plan when you go into the store. 

  • Shop according to the seasons

Shopping according to the seasons will save you tons of money.  The first of fall is the time to purchase all of your summer clothes, patio furniture, and barbeque grills. The first of spring is the time to stock up on coats, sweaters, and other winter gear.  Stores drop the prices on these out of season items in order to make room for the new season’s stock.

Food items also follow a seasonal trend. January is diet month and all cereals and other healthy living items go on sale. Vegetables like broccoli and cabbage are also at their lowest prices. The end of June and the first of July are the best times to stock up on items like barbeque sauce, ketchup, mustard, hot dogs, and other Fourth of July items.  Strawberries, tomatoes, and watermelons are at their lowest price. Learn which foods are in season and center your meals around them because they are at their cheapest.

  • Buy nonperishable items in bulk

Buy nonperishable items like toothpaste, dish detergent, bathroom tissue, and paper towel in bulk when they go on sale. Evaluate your storage space and try to purchase as much as your budget will allow.  Try to get enough to last for several months. This way, you will not have to purchase the item again until it goes back on sell.

A smart shopper also knows that he or she can purchase large quantities of milk, cheese, and bread.  Each of these items can be frozen.  When purchasing large quantities of milk, remember to remove about a cup and a half from the container.  Slim and low fat milk freeze best.  It is also advised that frozen milk be used for cooking and not for drinking because the components may separate when the milk is frozen.

  • Eat before you shop

A smart shopper knows not to go shopping while hungry.  When you are hungry, you are more prone to give in to impulse buying.  Your hunger will drive you to purchase food items that you don’t need.  A smart shopper knows to eat or grab a simple snack before hitting the stores.

  • Use discounts

Strategic shoppers will grab any discount that they can.  There are tons of discounts available like senior citizen discounts, frequent shopper discounts, military discounts, and student discounts. Always take advantage of these shopping discounts.

  • Use loyalty cards

Store loyalty cards are a must for the smart shopper. The savings may not be much in the beginning, but they do add up. You can receive discounts on prescriptions, groceries, and gas. The money you save by using loyalty cards can be used for other purchases. 

  • Shop alone

Make it a point to shop alone.  Shopping with children or friends can interfere with your money saving strategies. Children can cause you to make unnecessary purchase, and friends can be a distraction unless your friends have the save money-saving goals that you do.

  • Shop later in the day or very early in the morning

Smart shoppers know that things are cheaper at certain times of the day. The best times to shop are early in the morning or at night.  The meat department will mark down meat that is nearing its expiration date late in the evening.  A smart shopper will grab these mark downs and head for the freezer. They also know to cook the meat as soon as possible.  The bakery will also mark down baked goods that did not sell that day.

  • Use coupons

For a smart shopper, coupon use is not just a fad, but a way of life.  Coupons can be used to purchase groceries or other items at a lower price, and if used strategically, they can even make some products free. 

Coupons can be found in the newspaper and on social networks.  Some companies offer coupons and promotions on their products, and all you have to do is visit the companies' websites, sign up, and check for valuable coupons. There are also coupon clipping services.  These services will locate and clip coupons for you. Many new products often have high value coupons on them called peelies or right next to the product.

Smart shoppers know how to find a deal.  They study store sale circulars, use coupons, and shop seasonally. 

Saturday, June 21, 2014

Discuss Finances Before Tying the Knot



 

Money is one of the main causes of marital conflict and divorce.  Each person enters a marriage with their own financial personality and spending habits.  In order of any marriage to survive, it is important that the couple have similar financial habits and goals. Because they are embarrassed by past credit mistakes or fear being judged by their future spouse, some people try to avoid addressing money issues. However, if money issues are not dealt with early on, the marriage is headed for a rocky road. So, how do you address money before marriage?

*Find a comfortable place

There is no easy way to bring up finances.  One simply has to begin.  Remember this is the person that you love and that you are planning to marry. So, relax.  Find a quiet place that is free from distractions. This discussion should also be at a time when you are both relaxed. It should not be done immediately after work when you are both exhausted. Nor should this conversation be had at the dinner table. Pick a good time and a noise free place.

*Premeditated financial questions

Have some financial questions already in mind that you would like to ask when you begin your conversation.  Start with something simple and work from there.  Some important financial questions are:

·         Are children in our plans?

This may not seem like a financial question, but it is one that will have a major financial impact.  If you do plan to have children, will one of you stay at home or will both of you work?  How will you afford daycare or other financial obligations that having children will bring?

·         What are our financial goals? You will need to know what you are working toward as a couple. Will the two of you be purchasing a home? If so, how much will it cost and how will it factor into your budget?

·         Do you use a budget? If your fiancĂ©e is not good with money now, their spending habits will adversely affect your finances.  You will need to rewrite budgets to include each other’s expenses.

·         Who will pay the bills?  Is one of you better at money than the other one?  If so, will this be the one to pay all the bills or will you keep separate accounts?

Other financial questions can be discussed, but be sure that these are discussed.

*Be prepared for disagreements

Although most newly engaged couples want things to always run smoothly, there will be disagreements.  Be prepared to disagree about money.  One conversation will not be enough.  You must be prepared to have several conversations over time about money.  And, be sure to come to an agreement on key financial issues. 

*Issues to discuss

Some important financial issues to discuss include credit card debt and student loans.  If one of you has a large amount of credit card debt or past due student loans, this must be disclosed.  Old student loans can lead to wage garnishments and confiscated tax refunds.  Large credit card debt can result in a negative credit rating.

You should each be honest about your incomes.  Your combined incomes will change your tax rate. So, be truthful about your earnings.  Also, discuss any saving accounts that you may have. Beneficiaries may need to be changed once you are married. 

Money issues can ruin a marriage. Some financial issues can be avoided by simply discussing them before the wedding. An engaged couple needs to sit down before any wedding plans are made and have a candid conversation about their financial situations. Any credit card debt, student loans, and other debts that may be looming over the marriage must be discussed.  As a couple, you should also decide who will control the finances and identify what your financial goals are. There is no magic trick to keeping a marriage happy. However, discussing money matters before marriage can help to prevent financial woes.

http://www.ehow.com/how_4586338_discuss-finances-before-marriage.html