Budgeting

Have to Make the Most of Sale Bargains

admin

When we see that there is a sale we can immediately feel that we will be able to save some money. It is tempting to immediately take a look and see whether we can buy anything that has been reduced by a significant amount of money. However, it is wise to step back first and think hard before you buy anything.

Do you really need the item?

The first thing to ask yourself is whether you really need the items that are on sale. It can be so tempting to see that the price is good and feel that you have to buy it that we do not think about whether it is something that we really need. Think about how much it costs rather than how much it is reduced by. Try to ignore the fact that it is on sale and think about whether it is something that we would normally buy and whether it is something that we will really make use of. Even if it is something that you will make use of think about whether you really need it right now. The price could drop even further or you might be in a better position to afford it at another time.

Is the price really that good?

It is also wise to look at the price carefully Think about whether it really is that low. It can be tempting to focus on the amount that it is reduced by rather than whether the price is that low. For example, if a $10 item is reduced by 10% you only save $1 so you still need to pay $9 for it. That is not a huge saving, especially if the item is not something that you would normally buy. Obviously, if your favourite brand of cookies is reduced and you buy them at the lower price then you will save money that normally you would be spending. However, if you buy the item extra to what you normally buy just because it is reduced, you will actually be spending more money, rather than less. If you are buying something you do not really need then you are making no saving at all. It is wise to concentrate on the $9 you are spending rather than on the $1 that you are saving. The word saving can also be misleading as you are not saving money, you are spending money but you are just spending a bit less money than you would had the item been full price.

Can you get it cheaper elsewhere?

It is also worth comparing the price with other stores. We can often think something must be cheap if it reduced, but may find that it is that price or even less in a different store when it is not reduced. So, make sure that you compare the prices carefully and make sure that you are not paying more than necessary. It could be that the store you are at had the items priced highly and so when they reduced them, they were still dearer than other places. It may also be the case that different brands could still be cheaper. Make sure that you do some research rather than making a quick purchase and then regretting it when you see the item cheaper elsewhere. Most people carry a phone with them, so they could quickly look at prices elsewhere to check before they buy.

Can you afford it?

It is really important to make sure that you can afford the items that you are buying. Just because they are reduced does not automatically mean that you will be able to afford them. Therefore, make sure that you check your finances first. If you have to borrow money in the form of a loan, overdraft or use a credit card then you will be paying more for the item because of the interest on those things. It is wise to therefore think hard about whether you can afford it and if not, then whether you really need it or whether it really will save you money considering the price of the loan. In some cases, the savings might be so good that even with the price of a loan you will still save money, but you will need to check this.

It might seem like a lot of things to consider before picking up something in a sale. However, you could end up spending more than you realise or more than you need if you do not. It is worth thinking about these types of purchases more than others because you can be more tempted by the offers and not consider so much as to whether it is something you really need or whether it really is a good price. Even the cheapest things are worth thinking about as that extra spending could be the difference between paying a bill and not being able to afford it.

Advice

What is the Best Way to Fund a new Computer?

admin

Most of us have computers and from time to time will need to replace them. This could be because it has broken down and cannot be repaired or it is out of date and you need it to be faster or have better functions. Either way you will need to pay for the computer and they are not cheap. It will often be something that you will have to think about as getting the money to pay for it may not be easy for you. There are options though that you can consider and the one or more that you choose will depend on your own personal circumstances. Below are a few ideas to think about.

Get a loan

Many would immediately think that they will borrow the money that they need. This can be a quick solution but is only available to those that have a good credit score. If you do not have a good credit score then you will be likely to be turned down for some loans and others may be available at higher prices. This means that for some loans may not be a good option, even though they could be a fast way to get the money needed. Loans will also cost money and although some people will be happy to pay that extra, there may be others that feel that the cost is too much and that they would rather try other methods. There are other options that you might wish to pick from.

Use Savings

If you have some savings then it could be wise to use some or all of these to pay for the computer. It can be hard parting with savings like this though. It can take a lot of time and effort to save money and you might feel secure knowing that you have some savings behind you to cover emergencies if you need them. You may be saving up for something specific as well and may not want to part with the money as you will have to start saving all over again. However, it can be a much cheaper way of getting the money compared to borrowing.

Save up

If you do not have savings then an alternative idea is to save up the money. This will take time and so it will only be possible if you can afford to wait for your computer. This will depend on whether it is completely broken and you need one right away or whether you can wait a while for one. How long it takes you to save will depend on the price of the new computer and how much you are able to reduce the amount that you are spending so that you can save more money.

Reduce Spending

It can sometimes be tricky to reduce our spending. However, there are things that you might be able to try. Comparing prices on everything that you buy is a good start. Making sure that you are not paying more than necessary can make a big difference. It will take some time to check this out, and the savings might be quite small. But every little bit of money that you are able to save will add up so that you are able to slowly build up a pot of money. It is well worth looking at the more expensive things that you pay for first, things such as insurance and utilities as if you can reduce those then your monthly spend could come down quite significantly. IT is also worth questioning everything that you buy and asking yourself if you really need it. We often buy far more things than we need and so if we can cut down on some of these then we will have some spare money for buying other things.

Earn More

An alternative way to manage is to earn more money. This will enable you to more easily afford the computer. Of course, this is not easy. It could mean that you will need to consider changing your job or working more hours neither of which are easy. However, if these are not options that you want to look into then you could try other things. For example, you could see if you own anything that you could sell. You may have things that you no longer use or want, that you are able to sell and raise some money from. You may also be able to find some work that you can do form home which is pretty easy but will raise some extra money. You might find some online work or sell things that you make or things like this that will help you. It is just a matter of finding something that will suit you and fit around your lifestyle.