Spending less getting more

When was the last time you got a bargain?

As we develop financial discipline, one of our goals should be to get more for less which is also called bargaining. Firstly, we need to develop the mindset or habit that reminds us to always negotiate lower prices. Some individuals may consider this as been cheap but I prefer to refer to this behaviour as ‘wise financial management’. Here are 6 ways to get more for less:-

Spending less tips

  1. Good deals are available from online sources such as eBay and EcayTrade (Cayman Islands). Log on and browse these daily specials in this very popular marketplace.
  2. Purchase in bulk when possible. Merchants will give discounts when items are purchased in bulk.
  3. Negotiate. Negotiate. Negotiate. Merchants want to sell their products. They will accept a smaller amount instead of losing the entire sale.
  4. Purchase items during slower periods rather than busy periods. Merchants will reduce prices during the slower periods in order to increase the sales volumes.
  5. Do not purchase items at the time of product launch. You can purchase these same items for reduced costs 2 3 months after release date. E.g. Cellular phones.
  6. If you wish to invest in property, purchase from Banks’ inventory. They are always willing to give reduced rates, terms and fees in order to offload these items. Remember Banks are not in the business of real estate.

What would you prefer?

Your goal should be to increase your savings. It is better to be cheap and have a healthy savings account instead of satisfying the false pride of spending heavily.

To find out more about financial management contact Ralph Lewis at LC Money Plan

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