With the economy just barely starting to bounce back, consumers are more careful with their money than ever. While many of us are no longer scrimping as badly as we were one year ago, we are now cautious with our money, as we have seen first-hand the devastation that can come out of nowhere. Now that we finally have some money to spend or save again, what should we do with it? How can we keep our money safe? Here at Five Point Capital, we know you work hard for your earnings, so we have a few tips to avoid getting ripped off.
The best way to save money is to avoid a rip-off. You need groceries, utilities, gasoline, clothes, transportation, and even the occasional entertainment and splurge. Since you need these things to get by, you cannot avoid spending money on them. Nothing comes for free, especially in a down or recovering economy. As a result, the best thing you can do is make sure you are getting the best price for your money. There is nothing wrong with shopping sales and cutting coupons—these are the little things that help you save money. A few cents here and a few dollars there can really add up. Going out for dinner? Skip the appetizers and drinks. Appetizers can fill you up so that you don’t enjoy your meal, and drinks are often the most over-priced of all menu items. Instead, enjoy your dinner with a glass of water, and then pick up a bottle of wine at the grocery store on the way home to enjoy for up to 60% less in the privacy of your own home.
There is also nothing more frustrating than buying something and then seeing it somewhere else for a better price. To avoid a rip-off, we say to be vocal. Though many companies do not advertise it, a good deal of businesses will refund you the difference if you can prove a competitor is offering a lower price. They want your business and would rather refund you some money than have you return the item all together to instead buy it somewhere else. In the same light, shop around before you purchase. Figure out who has the best deals and do not be afraid to pit competitors against each other. If one store has a lower price, tell the competing store owner or manager—there may be some hidden discounts waiting for you that will get you an even better price.
You don’t want to get ripped-off or scammed. Keep your money safe by doing your research and only buying the best quality and cost-effective goods. When you do that, your savings add up. You can keep these savings for a rainy day, or splurge on something fun.
