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Other places to shop…

Monday, January 18th, 2010

You know, it always amazes me how many people shop “in a box”, and won’t step out of it for anything.  There are, much to the surprise or dismay of some, lots of places to shop other than the mall, outlet malls, strip malls and “boutiques”.    Consignment stores and the retail stores of charitable organizations like the Salvation Army and the Goodwill are great places to find a deal.

Consignment stores are retail locations where people take their gently used clothing and accessories are sell them at a fraction of what they paid.  The consignment store then turns around and sells the items at a discount.  This means a great savings on things for you.  A small disclosure…you DO have to scour the racks for the gems, and you DO have to scour the items for defects and you should ALWAYS wash the item before using/wearing it.  Also, I personally wouldn’t buy undergarments, swimsuits or shoes secondhand, unless your options are completely limited.  The discounts at some consignment stores can be up to 75% off the retail price, and there are consignment stores that are targeted to a specific audience, such as young teen/college age and professional women and maternity.  Check your local community for the options available to you.

As far as charitable retail sites like Goodwill and the Salvation Army, the same rules apply.  You have to look through things carefully before choosing to buy from them, and some things might “need a little work” before they can be useful to you, but these are not bad places to find a deal.  Not everything there is “crap”.  A lot of the time, things are merely discarded items that people no longer want…that doesn’t mean they aren’t worth anything.  As a matter of fact, Goodwill has an auction website, similar to Ebay, called shopgoodwill.com.  You can find antiques, collectibles and luxury goods that have been donated to Goodwill to bid on at this site! 

No matter what your thoughts on these places are, you shouldn’t judge them unless you’ve been there at least once.  If, after going to a consignment store, you don’t like what you see, simply don’t go back.  If however, you find it a worthwhile place to shop, then you are likely to save quite a bit of money over the years!

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Don’t be afraid to say NO!!

Monday, January 11th, 2010

This Mucho Moolah Money tip is probably more for our younger readers, but hopefully all of the readers will find some value in it!  I wanted to talk about saying no, canceling services and returning items.  I don’t know why, but for some reason, we have a negative stigma in this country about it!  This is completely ridiculous!

When we buy something or request a service, it is perfectly within our right to return it or cancel it, for whatever reason we deem worthy, with the exception of damage that we caused.  Why then, do some people fear returning things or canceling services?  My guess would be that it has to do with the marketing of retail companies, the “strength” of the sales people, and the idea that people (friends, family, the cashier) will think poorly of us for returning it. 

Well, as far as the retail companies go, they spend millions (maybe even billions) on marketing every year, so why wouldn’t they be able to give us the idea that we shouldn’t cancel their service, or return their product.  You have to stay strong and recognize this tactic for what it is…marketing, period. 

As for the sales people?  It’s their job to be pushy, get you to buy something, and, if you come back to return the product or cancel the service, convince you that you shouldn’t.  They aren’t looking out for your needs (in general…there are exceptions, but very few) and they don’t really want to be your friend…they just want their boss to see that they are doing their jobs, and that is it.  So what do you do/say when you want to return something or cancel a service and the sales team won’t “let” you?  Before you go back to the store in question, decide on what you’re going to say.  Let’s say that you are going to say “the device doesn’t work as promised, and I’d like a refund…here is my receipt.”.  Now, if/when they try to talk you out of it, you simply, but firmly repeat your first statement.  Repeat it again, and again, if you have to.  If you still haven’t made them listen, ask for a manager, and state the same sentence for them.  Eventually, they will decide you aren’t worth their time, and will do as you ask. 

When it comes to our friends and family, we all want them to think we are financially stable and secure.  When we return an item or cancel a service, some of us fear that our friends will think we don’t have the money to pay for it, and we feel embarrassed.  Whether or not this is true, it doesn’t matter.  Your business is your business, and keeping your budget balanced is more important than what someone thinks of you and how much money you have.  Don’t worry about what they think.  It’s NONE of THEIR business!

No matter what you’re trying to return or cancel, never forget that it’s your money in question.  You paid for the item or service, because at the time, it was worth more than the money in your hand, but when you decide it is no longer worth that money, don’t feel that you don’t have the right to get it back (or stop paying for the service)!

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Stay away from the mall when…

Monday, January 4th, 2010

If you’re in a foul mood, you should avoid the mall or other retail establishment as much as possible.  A recent study by Harvard professor Jennifer Lerner discovered that people who shopped when they were depressed were more willing to spend money…up to 30% more than consumers who were in a better mood!

This shouldn’t surprise anyone…it didn’t get dubbed “retail therapy” for no reason!  The problem is that in our society, we act like retail therapy is a GOOD thing, when it’s actually AWFUL.  The retail stores have convinced us that it’s normal and OK to shop when we’re down, but they’re only doing that because they want to part us from our money, not because they actually want us to feel better!

The next time you’re feeling down, don’t go out and look for a distraction, go home and find ways to distract yourself!  Take a bubble bath, clean the house, take on some of your “honey-do” list etc.  Go to a park, or the beach, or some other free place to clear your mind.  Get creative.  What you do is your choice, so long as you don’t go to a store and spend money.  It’s a new year, and that means it’s the perfect time for you to make the change that could make you retire with ease 20 or 30 years from now.  It all starts with you, and a step in the right direction is avoiding the mall when you’re down (and whenever else you don’t actually NEED something from there)!

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We’re on vacation, but…

Monday, December 28th, 2009

I still wanted to give a tip for this Monday.  If you’ve been heading out for the after Christmas sales, remember that it’s not a sale if you didn’t need the item in the first place!  Already bought something you don’t need?  It will be a lesson in being a grown up to take it back to the store and returning it!  Make yourself proud!  Don’t fall into your usual patterns!  Save that money!  Don’t spend it!

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You shouldn’t always pick it up!

Monday, December 21st, 2009

Today’s Mucho Moolah tip is simple but effective: Look, but don’t touch!  All too often, when we go shopping, even if we tell ourselves that we’re only window shopping (a difficult task for most people), we still end up buying things.  Why is that?  Well, it’s because when we look at things, we want to touch them as well.  The retailers know this about us, since they have paid big bucks to do research on how and why consumers spend money, and they not only have figured out that putting a sweater, for example, on a table is inviting, they know that if you pick it up, you’re more likely to buy it!  Not only that, but the longer you hold onto the item, or carry it around with you, the more your sense of ownership has increased, making you even more likely to buy it!  Whew, have they got us figured out or what?

So, keep our advice in mind, and don’t touch it!  If you’re the type of person to go out for “retail therapy” (do NOT get me started on how much I loathe that phrase, and what it implies), then you need to find something to do with your hands.  Put them in your pocket, carry a big bag in your hands, text etc.  Finding something to do with your hands could save you a lot of money over the course of the month, because every time you see a $200 and don’t buy it, that’s $200 in your pocket for something else, which I hope will be savings!

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Stop enabling your grown children!

Monday, December 14th, 2009

It is estimated that Baby-Boomers provide $59,000 in monetary help to their grown children over a typical 5 year period.  If you’re a Boomer, you want a money saving tip?  Stop enabling your children by supplementing their income and either cut them off completely or cut your “gifts” down by 75%-85%! 

This is one of the most ridiculous things going on in our society right now.  I cannot believe that Boomers are giving so much to their grown, totally able to work (even if that job is “beneath them”) adult children.  I mean, come on…so what if the job doesn’t pay $100,000 a year with nice perks etc.  There is value in being able to say you are making it on your own.  Let’s break down that number above…$59.000 in 5 years is roughly $12,000 a year, or $1,000 a month!  That is a part time job!  You want that lifestyle?  Don’t get it from your parents, who would like to retire soon!

The bottom line is this:  If you’re a Boomer and are looking at your retirement nest-egg, realizing that retirement is going to be tough (if possible at all now or in the future), then you need to evaluate where your money is going.  If, that money is going to your children, it is time to cut them off!  They can have what’s left when you’re gone (if anything) and do what they want with it at that time.  Why would you risk your livelihood on their new car/home improvement etc.?  Teach them the hard lesson that sometimes you have to take care of yourself.  They will have to learn that lesson when you’re gone anyway, and it will be easier if they have your shoulder to cry on when they learn that lesson.

Are you the child of a Baby-Boomer?  Do you “borrow” money from them that you never pay back?  Perhaps it’s time for you to realize that you’re draining their retirement money, and that you need to grow up and pay your own way.  Nowhere in the “how to be a parent” handbook does it say that your parents are responsible for paying your way from birth to YOUR retirement!  Cut them a little slack!  If you can’t live without all of those nice things that you’re buying with their money, get a part time job…otherwise, perhaps it’s time you learned to live within your means!

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Save money over time…you hate that printer anyway, don’t you?

Monday, November 30th, 2009

Like many of you, I am not a fan of the printer industry.  They charge us for their printers, and then, like pouring salt in the wound, they charge us ridiculous amounts of money for the ink to make them work!  Personally, I have switched to a laser printer, which was reasonably priced, even if the toner cartridge is pricey.  The difference?  Laser printers can print a few THOUSAND pages, where an ink jet printer can only print 300-800 pages, and some really cheap printers will only cover 50-100 sheets of paper.  So, how do you keep from getting ripped off with ink jet printer cartridges?  Buy ink, not cartridges!  It can save you roughly $11 a month, but the real satisfaction comes in not paying those ridiculous prices for the cartridges!

So, where do you get ink?  Well, some local drug stores and shopping malls offer a place to buy ink, and if you can’t find a place locally, check out Staples.com.  They have a section on their website, Ink and Toner finder that might just be a great way for you to find the ink you need. 

Let’s face it.  You don’t buy a new car when you run out of gas, so why would you buy a new cartridge (or printer) when you run out of ink?  Enjoy your savings, and the satisfaction of not being taken by the current system!

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Ask for samples!

Monday, November 23rd, 2009

This Monday, your favorite southern couple is about to take you to an all new level of frugality…the sample!  You might think that to have nice things you have to spend a lot of money…well, I beg to differ!  You can have lots of nice things, get to do fun things and get to try good things all without having to spend ANY money!  How do you do this?  Ask for a sample!

Other than being free, the great thing about a sample is that you can try something without having to spend your hard earned dollars on it!  A great place to get free samples is at the grocery store (some don’t give samples, but some do).  You can try some food to see if you like it before you buy it!  This could save you a couple of bucks, but if you try ALL the food samples at the store, you’ve had a nice little snack…for free!

An even better place to get free samples are at the mall/department stores.  You can get perfume samples, make up samples, skin care samples etc.  As a bonus, if you live in a big city with multiple malls/locations of stores, you can get the same product from different stores, and have a nice little supply of  your favorite products!  So, say you like a particular eye cream or perfume…if you get a sample at three different places, you’ve got quite a bit for free, that should last a while.  Just a quick tip though…be nice to the sales people…they don’t HAVE to give those samples out.  The nicer you are, the more you’ll get…and by the way, you’re there for free stuff, so, you’d have to be out of your mind to try and be snobby.

Another great place to get some free samples are restaurants/coffee houses/ice cream parlors.  Now, they won’t let you sample enough for a meal, or probably even a snack, but if you need just a taste of something, this can work.  Say you’ve brown-bagged your lunch, but you took it to a park to eat.  While walking back to work, you pass an ice cream parlor…you know you don’t need the calories or the hit to your wallet.  What do you do?  Go in, and ask for a sample…or two.  It’s just enough to scratch the itch, but doesn’t cost a thing.  Just don’t forget, be nice, and try not to go in too often without occasionally buying something.  The owner will be much more inclined to keep giving out the samples that way!

Alright!  That’s it!  Happy sampling, and if you know of another way to get free samples, don’t forget to post them in the comment section!

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Borrow it!

Monday, November 9th, 2009

Today, I wanted to talk about a way to save money and get things done at the same time.  We all know that the holidays are fast approaching, and that means family visits, decorations, presents, donations, gelt etc., and that means a lot of money to be spent.  So, what do you do when you realize you need something, and don’t have the cash on hand?  Borrow it!  Just be sure to be responsible when you do it.

First, let me just say that there is NOTHING wrong with borrowing something if you need to.   I think somewhere along the way borrowing things fell out of favor, either because people weren’t responsible when they borrowed from friends or family, or because it became un-cool to borrow something, and so people just went and bought what they needed, even if they only needed it once etc.  This, in my opinion, is silly.  It makes much more financial sense for friends and family to share the things they have that other members of the friends or family might need, in exchange for the same courtesy. 

So, how do you borrow from friends and family without breaking the relationship?  Easy, follow these simple rules:

  • Don’t think that borrowing from a friend or family member is something you can do once a week.  People tend to get irritated if you’re at their house borrowing things all the time.  And, if you’re borrowing the same thing every week…face it, you DO NEED to buy it…it is obviously a necessity for you.
  • Return what you borrow in the EXACT SAME or BETTER condition that it was in when you took it home.  Nobody wants their stuff back broken.  If you borrow something, and cannot return it in the same condition because you’ve damaged it, then you must replace it.  I don’t care how much it costs, and I don’t care if you’re strapped for cash.  You broke it, you bought it.  If you don’t replace it, you could hurt the relationship between you and the borrowee. 
  • If the item you’re borrowing has a consumable (example, a pressure washer, which requires gasoline), you must replace it.  Do not return an item that uses, for example, gasoline, without a full tank.  It’s very thoughtless to do so.
  • Know that some things are ridiculous items to borrow.  A pressure washer, a punch bowl and a cup of sugar are all things that make sense to borrow when you need them.  Even a car is ok to borrow, if the friend or family member really trusts you, and you treat the car with extreme care.  A microwave and a T.V. are not items that make sense to borrow.  Do not show up and ask to take some one’s microwave.  If you did that to me, I’d laugh at you!

Basically, use your common sense.  Remember the saying, do unto others as you would have them do unto you?  Well, it applies when borrowing from friends and family.  Borrow when you need something, but be thoughtful while it’s in your care.

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Twitter for deals!

Monday, October 26th, 2009

While doing some research for Mucho Moolah topics, I ran across this topic and thought I’d pass it on.   A new trend has started to emerge on Twitter these days (when is there not a new trend on Twitter), where if you want to get discounts on things, you just need to follow certain twitterers!  Follow us at SCGuide and keep watch for upcoming products!

So, for those of you that don’t know, Twitter is a free social networking and micro blogging (normal posts aren’t longer
than 140 characters) service where users send and receive messages.  They are also able to read posts from anyone they are following (unless they have been removed from that persons’ followers list), and posts on particular trending topics.  If that didn’t make much sense to you, check out a tutorial for twitter here or read up on the service here.

So, how do you save money on Twitter? It’s simple…just follow certain users who post discount information for their
businesses!  Here are a few examples of users who disclose discounts:  @amazonmp3 for music, @JetBlueCheeps for travel discounts, @DealDivine for fashion and beauty deals and steals, @DealsPlus for general retail deals and @fstimes for giveaways and winning prizes.  Another good choice? @coupons…this could be hit or miss, but you might be able to print off some useful coupons for your weekly groceries!

So, check out these sections on Twitter if you want to save a little cash!  Good luck!

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