Have you ever noticed that the things you buy weekly at the grocery and hardware stores go up a few cents between shopping trips? Not by much, just a little each week, but they continue to creep up and up.
All it takes for the price to jump up by a lot is a little hiccup in the world market. Note the price of gasoline as it relates to world affairs.
There is a way that we can keep these price increases from impacting our finances so much, and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use every day. Something that will keep just as well on the shelves in our homes as on the grocery store or hardware store shelves.
For instance, dog and cat food costs about 10% less when bought by the case than when purchased at the single can price, and if you wait for close-out prices, you save a lot more than that.
Set aside some space in your home and list things you regularly use that will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into, so keep that in mind.
Then set out to find the best prices on quantity purchases such as bathroom items and dry and canned food.
You will be surprised at how much you can save by buying a twenty-pound bag of rice instead of a one-pound bag but don’t forget that it must be kept in a rat-proof container.
You can buy clothing items such as men’s socks and underwear because those styles don’t change. Avoid buying children’s and women’s clothing. Those styles change, and sizes vary too drastically.
Try to acquire and keep a two-year supply of these items, and you can save hundreds of dollars.
Tips to Avoiding Impulse Spending
Answer these questions truthfully:
1.) Does your spouse or partner complain that you spend too much?
2.) Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had?
3.) Do you have more shoes and clothes in your closet than you could ever wear?
4.) Do you own every new gadget before it has time to collect dust on a retailer’s shelf?
5.) Do you buy things you didn’t know you wanted until you saw them on display in a store?
If you answered “yes” to any of the above questions, you are an impulse spender and indulge yourself in retail therapy.
It is not a good thing. It will prevent you from saving for essential things like a house, a new car, a vacation or retirement. You must set some financial goals and resist spending money on items that don’t matter in the long run.
Impulse spending will not only put a strain on your finances but your relationships, as well. The first thing to overcome the problem is to learn to separate your needs from your wants.
Advertisers blitz us hawking their products at us 24/7. The trick is to give yourself a cooling-off before buying anything you have not planned.
When you go shopping, make a list and take only enough cash to pay for what you have planned to buy. Leave your credit cards at home.
If you see something you think you need, give yourself two weeks to decide if it is something you need or something you can easily do without. By following this simple solution, you will mend your financial fences and your relationships.