Shop around from the comfort of your own home before you make that trip to the store to make your purchase. Before you commit to making a purchase, try comparison shopping by watching the flyers, searching on-line and phoning local retailers.
Once you find the best price on the product you want to purchase, consider whether there is a retailer closer to home that offers a price match. Many retailers offer the same products for different prices. If you can get the same product closer to home rather than driving across town, it’s worth taking the time to research your purchases first.
Many on-line retailers offer free shipping. Whenever possible and affordable, I recommend buying local, but if the price is significantly less on-line, including shipping costs, it just makes good financial sense to buy on-line.
Don’t forget the coupons! Before you buy on-line or at a local retailer, check the flyers and on-line coupon sites. A few extra minutes looking for a coupon could result in significant savings.
How many people are you giving gifts to this year? Does your list seem to get longer and cost more every year? If you are buying for more than just immediate family and your BFF, it might be time to shorten your list and save some money.
Think about why you are giving to those on your list. If you really want to cut your list down significantly, you can reduce spending by giving a handmade card or baking some cookies for those you’ve crossed off your list this year. Consider giving gifts to children only and cut out the adults from your list. Grownups are often happy to let the tradition of gift giving go because there is so much stress involved with trying to find the right gift that doesn’t break the bank.
Do you remember every gift that was given to you and by whom last Christmas? I don’t. But I do remember the good times I had with family and the memories we made. Try spending time, not money on your friends and family. Give them the gift of time spent with you rather than an expensive gift that may never be used.
Retailers are paid to get you to part with your hard-earned money. Even better for them if you use the retail store’s credit card to make your purchase and part with your future hard-earned money! One trick to watch out for is when retailers take previously discounted items and put the prices back to full retail before applying the discount for a one-day sale like Black Friday or Boxing Day. The result is often a higher price or similar price to what you would pay during a regular sale or discount.
Remember these tips to save yourself from impulse shopping and getting caught by one-day sales:
Remember, you didn’t ‘save’ money if you didn’t put money in the bank. If you are spending just for the sake of getting something on sale, you didn’t save anything.
The holidays tend to be filled with get togethers, parties and gift exchanges. Not to mention all the charities that are asking for holiday donations. Do you have trouble saying no to every request to donate to a charity or to every invite to dinner or holiday party? If you have been caught in this trap before, you know how quickly you can blow the holiday budget before you even buy your eggnog and shortbread cookies!
If this sounds familiar to you I recommend you learn to say ‘I can’t afford it.’ You would be surprised how people react to this powerful but simple statement. You may worry that you will be judged or that people will assume you haven’t managed your money well. But you aren’t admitting to any financial mismanagement, you are simply saying that it isn’t in the budget at this time. That’s fiscally responsible and most people will understand this and won’t question your response. Say yes to the things you really want to do that fit in your budget.
CIRP, LIT
Senior Vice-President
Servicing: Prince George, Terrace, Quesnel, Vanderhoof
2025-01-08
Lifestyle Debt
Imagine this: you’ve just signed up for a gym membership, bought into a timeshare, or switched to a new service plan after someone convinced you it was a good idea. Now, you’re having second thoughts. It’s called buyer’s remorse, and it’s more common than you might think. But here’s the good news: buyer’s remorse laws exist to protect you.
2024-12-18
Lifestyle Debt
The holidays are a time for gathering with friends and family, sharing laughter, and creating memories. But hosting a holiday party can get expensive, especially with rising costs these days. Thankfully, you don’t need to spend a fortune to throw a memorable celebration. Here are some ways on how to host a fantastic holiday party on a budget.
2024-12-03
Lifestyle Debt
Debt can be a double-edged sword. On one hand, it can be a valuable tool to build credit and achieve financial goals, like buying a home or pursuing higher education. On the other hand, bad debt—like unmanaged credit cards and payday loans—can spiral out of control and lead to significant financial stress if not managed carefully.
