Tuesday, October 30, 2012

How to Get Rich - Never Pay Full Price

Do you like to get a good deal on a product or service that you buy ?

Do you feel good when you pay less for something than someone else you know ?

If you are like most people, you would say Yes to both of the above!

Human Nature

Yes, it is human nature to get a feeling of satisfaction when you know that either someone else paid more or that you were successful in negotiating a price down from the sticker price.

Most people, however, only experience this feeling occasionally when something goes their way. Most of the time they pay the full price on everyday items without even questioning the price. This is the way that our modern retail system is designed.

Make It a Habit

There is another way! Why not try to get the very best price on everything you buy ? If you do, you can put your savings towards building your financial future !

An old saying once said that a penny saved is a penny earned. Although this saying is very outdated, you could say that a dollar saved is a dollar earned, or a hundred dollars saved is a hundred dollars earned,etc.

If you are having trouble saving the amount you need to achieve your goals,  then why not develop the attitude of never paying full price for anything again. Make this a habit and put your savings towards reaching your financial goals.

Action Steps

There are many ways to get deals and reduce your everyday living expenses.

For instance, make it a habit to always shop around and compare prices. You will be amazed at the huge difference competitors will charge just to get your business.

Another way is to collect coupons from manufacturers and retailers. Coupons are designed as a form of advertising to get you to try their products at a discount, sometimes a big discount. The key here is to only collect coupons for items that you would normally buy everyday. Don't fall into their trap of trying new things just to get a deal. This will likely increase your cost of living. Be disciplined !

Always negotiate the price on big ticket items, such as an automobile, etc. Prices on the larger items are almost always designed to allow for a price discount. If they won't budge, don't hesitate to walk away and take your business elsewhere. The key here is to never let them think you really like something. Develop a take it or leave it attitude. You may find that they will be chasing you down the street when you walk out.

Never buy the add ons such as extended warranties and auto dealer rustproofing etc. These items are designed as pure profit generators and give you very little if any value. Learn how to say No to the pressure tactics they may try to use. Profit for them and extra cost for you. Not good for making you rich.

Penny Pincher ?

Never look at yourself as a penny pincher or being cheap. After all, it's your money and you should be able to spend it however you decide. Why not get the most out of your hard earned dollars. You really do owe it to yourself to get the most bang for your buck.

As always, I welcome your comments and suggestions for future topics.

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