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6 Tips for Being a Smart Shopper

6 Tips for Being a Smart Shopper

For many of us, savvy shopping skills aren’t things we possess. However, the good news is that it’s possible to acquire these skills as you mature into a more financially responsible adult.

Here are a few tips and concepts you should find useful:

1. Use Credit Cards for Large Purchases

There’s one school of thought that says you should stay away from credit cards altogether. If you aren’t very responsible, this is probably sane advice. Credit cards can get you in trouble by making you think you have money. However, there’s an entirely different school of thought that says credit cards are ideal for large purchases.

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The logic behind the latter theory is that there are many different rewards programs attached to credit cards. You can earn things like cash back, airline miles, gift cards, and more – which means you’re essentially saving money when using a credit card to buy big ticket items.

2. Do Research to Avoid Buyer’s Remorse

It’s fairly common to hear people discuss seller’s remorse when a major financial transaction is involved. “Seller’s remorse is an emotional response that people often experience when they regret selling something they owned,” Green Residential explains. “This emotion can occur with small sales, but generally arises when large items – such as homes, cars, and businesses – are sold.”

But did you know there’s also something known as buyer’s remorse? Buyer’s remorse is actually very prevalent in small purchases. In order to avoid the regret and guilt associated with this emotion, it’s important that you do lots of research before making a purchase.

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3. Always Comparison Shop

In addition to researching the features of a product, how people feel about it, and other important details, you should also comparison shop for the best price. You’d be surprised by the price differences you can find for the same product from different sellers. Use a tool like Google Shopping, PriceGrabber, or Shopzilla to instantly get results from hundreds of different companies.

4. Make a List Before Going to the Store

When it comes to grocery shopping, you should never leave home without a list. This keeps you on track and ensures you don’t start grabbing unnecessary items. If something isn’t on your list, you should ask yourself, “Do I really need this item?” If the honest answer is “no,” practice some discipline and refrain from purchasing it.

Another valuable tip for grocery shopping is never go to the supermarket hungry. When you’re hungry, everything looks good, and you’ll end up overspending on items that looked appealing in the moment.

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5. Have a Budget (And Stick to It)

When it comes to shopping for certain needs or occasions – such as a birthday present for your mom or furniture for a new bedroom – you should always establish and a concrete budget. By making a budget beforehand, you can avoid making rash decisions. If items don’t fit into your budget, then it simply isn’t practical to purchase them.

6. Try as Soon as You Buy

As a smart shopper, return policies and warranties are your best friend, but make sure you’re taking full advantage of them. “Return policies and warranties start from the date of purchase,” says Amy Roberts of Good Housekeeping. “Even if it’s July and you bought a snowblower on clearance, plug it in to be sure it starts and seems to run well. It’s also wise to check out gifts you plan to give at a later date — do they work properly, and are all the parts in the box?”

As you can see, it doesn’t take much to be a smarter shopper! Heed these six tips and you’ll reap the benefits.

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Featured photo credit: pixabay.com via pixabay.com

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Larry Alton

Business Consultant

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Last Updated on June 25, 2019

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

1. The 48 Laws of Power

48-laws-of-power

    “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

    On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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    An example of a law of power is: Always say less than necessary.

    • When trying to impress, the more you say the more common you look and less in control.
    • Be vague.
    • Powerful people impress and intimidate by saying less.

    2. Influence: The Psychology of Persuasion

    influence-the-psychology-of-persuasion

      “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

      This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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      Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

      3. Blue Ocean Strategy

      blue-ocean-strategy

        “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

        This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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        4. The Fountainhead

        the-fountainhead

          “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

          The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

          5. The Compound Effect

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          the-compound-effect

            “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

            This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

            So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

            Featured photo credit: Bill Gates Foundation via businessinsider.com

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