Inflation. The one word that strikes fear into our thrifty hearts. According to Bloomburg, inflation rose to a high of 7% last year.
Armed with this latest knowledge, we need to brace ourselves and prepare to sharpen our money saving strategies further.
I’ve collected these handy tips over the years to help you save tons of money.
If you could just apply one tip in your daily life, it’s a fabulous start.
And once you experience success, I bet you’ll surely want to continue saving.
Let’s dive in.
1. Closing sales for the day
TIP: Sniff around food outlets near closing time.
Some food outlets in malls actually offer cut-price deals on their grub about half an hour before closing time. Yay . . .
I’ve bought all types of delectable sushi including bento meals for 40 percent off before the outlet closes for the day, and this is available DAILY.
I’ve noticed customers paying full price for their sushi just 5-10 minutes before the eatery puts out the reduced price sign, just because they didn’t know about such a deal.
There are always others who are patiently and quietly lying in wait, including my spouse. On one occasion, the moment that sign appeared, a gentleman in his 60s dashed past my spouse and made himself first in the “queue”!
It’s good that folks are reaping huge savings.
At another mall, 2 pies go for $3.50 an hour before closing time, and a short skip away takes me to another retailer selling specialty muffins at half price.
What a bonanza.
Takeaway (pun intended):
You can do the same thing at your local mall. Ring the eateries there soon to ask if they discount their food close to closing time. Then hang around near the magic moment and pounce when the discount signs appear.
2.”Patience, young Jedi” (what Yoda said in Star Wars)
Shhh . . . What’s the secret here?
TIP: Be patient and wait for a better deal to come along.
It really does pay to wait a while for a good sale, if what you need is not too urgent.
Hunting for a reasonably-priced laptop is never simple.
Prices were around $2430 for the type of laptop with the features my son needs to have for his studies. So we decided to lie in wait.
We got lucky – a week before college started, a computer retailer offered the same exact laptop we had been eyeing, for only $1,445.
We jumped at the offer and saved $985, just because we waited. I could hardly believe it myself!
40.5% savings! Just like that!
It makes perfect sense for you to use Jedi patience to your advantage. You’ll be very glad you followed Yoda’s wise advice 🙂
It pays to always be patient when you shop.
3. Small defects in items
TIP: Carefully check every item you are buying.
If you notice a small defect in an item you are buying, it literally pays to ask for a discount. What’s the worst that could happen?
Countless times, I received good discounts on things that had minor defects but were perfectly useable.
That was what happened when I bought a blouse. There was a small dirt mark that refused to come off despite repeated rubbing.
Yep, you guessed right, I asked politely for a discount from the shop manager. The price tag was $13.50
I paid only $7. A reduction of 50 %!
It still feels fantastic whenever I wear that special blouse!
When we needed a new dishwasher, my spouse visited a seconds shop.
A brand new dishwasher was heavily discounted all because its box had a slight dent in it. The dishwasher itself was in pristine condition.
$285 shaved off.
Just like that! My spouse pounced on the deal and paid the heavily discounted price in minutes, loaded his vehicle and drove his prized buy home.
You’ll love the savings when you land great deals on seconds or shop soiled items that are often new things on display.
4. Sweet online deals
TIP: Search competitive deals by online pharmacies
Online retailers can and do offer fantastic deals.
I was after a health supplement that was selling for $50 a bottle in a health shop.
A quick search on the internet was the answer.
I found an online pharmacy that offered two bottles for only $71, which meant it cost only $35.70 each. That was a saving of $29 for 2 bottles!
A few months later, the deal got even better on the same product. Another online pharmacy offered something sweeter.
This time, it was a ‘Buy 2, get 3’ offer. So, even though the price of each bottle was $58.90, the total price of two bottles ($117.80) divided by three worked out to be only $39.26 for each bottle.
Compared to the $50 per bottle at the shop in the mall, the saving was $32.20 for three bottles.
So, with a little bit of research, I saved money! If you’re already in the habit of seeking better online deals, great!
I also use this strategy for my favorite beauty and skincare range–Antipodes.
After many years of searching for the best skincare range, best as it being safe and it really has to work, I’ve finally found Antipodes. It’s organic and has been scientifically proven to work. Paying for quality products means we’ll avoid wasting our money.
An online pharmacy was offering a 20% discount on all items in this range.
Furthermore, there’s a “buy 2 and get the 3rd one free” offer.
To cut a long story short, instead of paying $109.10, I paid only $56.90.
A total saving of $52.20!
Waiting and looking out for great discount deals will save you heaps.
Find out more about the 20 best apps that save you money when you shop online.
TIP: Check out your rights as a consumer
A quick word about your rights as a consumer.
Our local supermarket has a ‘replace and refund’ policy.
For instance, if I buy a fruit that turns out to be rotten when it is cut open, I get a replacement and a refund as well, when I bring back the offending fruit and show its receipt.
Those who didn’t return spoiled goods would have wasted their money.
I had a rusty can of tomatoes that I took it back to the supermarket for a refund! I always remove the labels on cans to recycle the paper, which in this case proved to be a good thing!
In the United States, check out the website of the Bureau of Consumer Protection.
Find out about your rights and what you can do if your purchase is faulty. You might be entitled to a replacement or have it repaired for free. Fair and square.
Don’t pay extra for strangers! Get my detailed step-by-step guide to protect your money using your receipts here.
6. Student and Senior discount
TIP: Make full use of your student ID or senior citizen discount card.
Find out what discounts and special deals you’re entitled to.
Don’t miss out just because you happen not to know. Not that I have any of these cards, but several times I have missed out on other types of discounts and ended up kicking myself.
You’ll never know, you may well get fantastic savings on food and other shopping items.
I have seen restaurants advertising at my child’s college offering special lunch offers when they produce their student ID cards.
Just a word of caution, don’t just use your discount cards to buy things just because they are on sale.
Buy ONLY if you really need it.
For example, it’s OK to buy a cell phone because your old one is broken. But do NOT buy a new phone as an upgrade, just because it has irresistible features and is on sale.
Use the ‘delay’ strategy – wait several days and then ask yourself if you can live without it. Think about the money saved by simply appreciating what you’ve got that’s working fine. Want to find out more?
Hope you’ve enjoyed reading this post. If you like it, please share.
You can find more surprising frugal tips to save hundreds in Part 2 here.