No deal is even better than a "good" deal

mikewoodbooks · #1 (**permalink**) 06-16-2008, 08:25 PM

One of my latest money saving ideas I'm pushing is to stop trying to get good deals to save money. It used to be I would recommend checking fatwallet, slickdeals, ebay, etc to get bargains. But lately I'm promoting not shopping at all. Rather than getting a "good" deal on something, don't get anything period. Okay, we do still buy groceries. But I don't watch TV (just free movies from the library) so I don't see commercials and I don't even look through sale fliers. I'd rather not even know what's for sale.

cindyg86 · #2 (**permalink**) 06-16-2008, 08:45 PM

I like this approach. I think so many people buy things because they are good deals and they are "saving money" when in actuality they aren't. If it wasn't a good deal, they wouldn't be buying it because many times it's something they don't even need. ie, instead of "saving $5" they are actually spending $15!

I know I'm guilty of this so I'm sure others are. I am definitely trying to curb that!

mikewoodbooks · #3 (**permalink**) 06-17-2008, 10:42 AM

I think in these times - the decline of unions, the decline of wages, a constant barrage of new fees, inflation and increased healthcare and transportation costs, continued government service cutbacks - basically causing the decline of the middle class; what it takes is a comprehensive long term strategy to maintain your standard of living (and still be able to put something away for retirement and emergencies). That means:
Not buying unless you need to
When you do need to buy something, finding the absolute best bargain
Reducing your cost of living; and
Finding sources of extra income For me this is a push-pull strategy. On the one hand you are pushing down your expenses and on the other hand you are increasing your income. I've been doing this for over ten years (although I am much better at it now than at the beginning, especially on the spending side) and I find I am lightyears ahead of my peers. So many of them constantly buy the latest vehicle, wii, just released DVD, etc. Then they constantly complain how they'll always have a house payment and a car payment. As a herd, they all went to huge gas trucks, then they all sold them and went to diesel trucks, then some of them went back to gas trucks when diesel got to be more expensive than gas. And now they all want to buy econo cars or motorcycles. If I thought this would be a permanent switch for them I'd say "great, this will cut your transportation costs." But I'm sure it will only last 1 - 3 years and then they'll buy something else again. Meanwhile, they're constantly upside down on what they owe.

Daylily · #4 (**permalink**) 06-17-2008, 08:48 PM

Quote:

Originally Posted by mikewoodbooks

One of my latest money saving ideas I'm pushing is to stop trying to get good deals to save money. It used to be I would recommend checking fatwallet, slickdeals, ebay, etc to get bargains. But lately I'm promoting not shopping at all. Rather than getting a "good" deal on something, don't get anything period. Okay, we do still buy groceries. But I don't watch TV (just free movies from the library) so I don't see commercials and I don't even look through sale fliers. I'd rather not even know what's for sale.

I've been trying to do this as well. Just because something is on sale doesn't mean that I have to buy it. I like the idea of not buying anything at all.

mikewoodbooks · #5 (**permalink**) 06-18-2008, 04:17 AM

A lot of it just seems like spending money is addictive. It's a habit to shop, to buy at least one little thing for ourselves. It's a habit to stop by a fast food place on the way home and pick up a drink or whatever. I think for a while when I went a long time without any fast food/processed food, it seemed like I was just craving it, almost as if there was a withdrawal process. However over time, I have kicked the spending habit. I no longer have a desire to spend anything. I no longer have a desire to pick up some fast food. Instead they've been replaced by a desire to hold on to every red cent.

savingmama · #6 (**permalink**) 06-19-2008, 11:57 AM

That is funny that you bring this up because I was just talking about this with some friends recently. My husband and I had told another couple about slick deals and some great deals we got (like buying a laptop and after rebates getting BACK money). Anyways recently that other couple asked me, jokingly, "Why did you have to tell us about slickdeals. We have found so many good deals, and just keeping buying things" I immediately responded it is never a good deal unless it is something you need or were planning to buy AND you have the money for it, otherwise you just wasted money you didn't have for somthing you didn't need.

glock35ipsc · #7 (**permalink**) 06-19-2008, 08:04 PM

I had a conversation with a good friend of mine not long ago. He was telling me about the "great deal" he got on his brand new 2008 3 passenger jet-ski (which was bought on a credit card!!!!!!

). He was telling me "how much money he saved" by going to another dealer with a line of BS.

I asked him if he put the $2500 difference that he "saved" by getting it somewhere else in a savings account. His reply was "of course not, I don't have that kind of cash!" I tried to explain to him that he didn't really "save" anything then. (insert blank stare here.)

Dope. He applied for, and received, a high limit credit card that had a low cash advance rate. Yup, you guessed it, he took the max in cash and went and bought a jet ski.

I keep telling him that I will be sad that we won't be able to spend any of our retirement time together, but I would be sure to come visit him while he was at work.

cschin4 · #8 (**permalink**) 06-20-2008, 04:15 PM

I don't shop for "good deals". I don't shop for sales, etc. The simple fact for me is the more time I spend exposing myself to merchandise, the more I am going to buy. So, I only shop when I need something and just go buy what it is I need whether or not it is on sale, etc. So, when other people show me all the "great deals", I just grin.

Exile · #9 (**permalink**) 06-21-2008, 01:47 AM

Quote:

Originally Posted by mikewoodbooks

One of my latest money saving ideas I'm pushing is to stop trying to get good deals to save money. It used to be I would recommend checking fatwallet, slickdeals, ebay, etc to get bargains. But lately I'm promoting not shopping at all. Rather than getting a "good" deal on something, don't get anything period. Okay, we do still buy groceries. But I don't watch TV (just free movies from the library) so I don't see commercials and I don't even look through sale fliers. I'd rather not even know what's for sale.

DW and I have been pretty much living this way for some time, but I just never thought of it in the frame of reference expressed by mikewoodbooks.

I also think of it as flying under the radar. But whatever you call it living modestly is sort of the mirror image of spending irresponsibly. The more you do it, the more it becomes a habit.

mikewoodbooks · #10 (**permalink**) 06-21-2008, 01:54 PM

I managed to go about six weeks without going in any stores. When I first walked back into one if felt strange. But it was a good feeling knowing that I had gone that long without spending anything. What brought me back was that I needed to replace two electrical plugs so I made a trip to Lowes. Fortunately, i had saved a $10 of $25 coupon and was able to use that. Also, I needed a pipe for a clamp. Instead of buying a new one, I went to the area where they cut the pipes. Sure enough there was a 5' scrap piece behind the pipe cutter. I pulled it out and was able to buy it for $1. A new one would have cost $10.

rob62521 · #11 (**permalink**) 06-24-2008, 11:41 AM

I think you are on to something here...being exposed to things means wanting things and then buying things. I have a friend who no matter where he goes, has to buy something. We went to a show last fall and other than the tickets to get in and see the performance, we bought nothing. After the show, he had to shop and get something and walked around the little area many times until he could find something to buy. This is the same guy who's conversations basically consist of what a good deal he's gotten on something he's bought or what the next good deal he's looking for to buy something else. He's retired, draws a good pension, and still had to go back to work to afford all the things he purchased. They cashed out his wife's annuity early to pay bills and had to pay penalties. He owes on both cars, his house, his heloc, his fridge, his new 60" inch flat screen TV and his credit cards. And he faithfully looks at the Sunday flyers to get the next good deal.

seattlemanicurist · #12 (**permalink**) 09-16-2008, 11:03 PM

I used to be really bad about making impulse purchases and buying stuff I didn't need. But for the last year I have lived right in the middle of a trendy hip area of Seattle with tons of little shops and boutiques, and a fifteen minute walk from downtown, and I live in a tiny apartment where I barely have room for the stuff I have and I am SO OVER IT now. I go to Value Village once a week or so to get books for my 8 yr old daughter because she reads a lot, and I can walk around and look for an hour or two and walk out with just 3 or 4 books that I came for. Other than that I don't even go shopping unless I need something specific, and I only buy what I went for and try to find the best deal possible on it. I can wander around Pike market for hours and buy nothing even though I have plenty of cash on me. The shopping bug is so dead.

pfblueprint · #13 (**permalink**) 09-17-2008, 02:34 PM

A penny saved is a penny earned... right? A "deal too good to pass up" was probably a line started by a marketing firm anyway.

Ima saver · #14 (**permalink**) 09-18-2008, 09:24 AM

I too, have quit shopping. I have not been to a mall in over 8 years. I buy groceries and I make a list of things I need. (like batteries) I buy only what is on my list. I do not buy clothes often, but when I need new jeans or new shorts, I just order them from QVC every few years. The only thing we buy on a regular basis, is tools that my husband needs for his work. He is a builder. We had to get a new tile saw this summer but his old one lasted him close to 15 years.

Aleta · #15 (**permalink**) 09-18-2008, 10:29 AM

I have often thought that if I didn't get the sales papers that I probably wouldn't bother going into the stores. I think that is where the CVS's and Walgreens get you. With CVS, they give you money off on your next purchase and there is a date by when you have to do that. Last month, I found myself looking for something in CVS just so I could get my money back before it expired. I find Walgreens to have better sales and try to go there only when it's something I really want and need. Sometimes the items are free after rebates and you can't pass that up.

I have just found that even with grocery shopping, that the less that I go there, the less I spend. That's why you see some of us under the frugal columns saying that we had 3 no spend gas days or no spend days. By staying out of the stores you save money. I try to do all of my shopping in 1 or 2 trips.

Exile · #16 (**permalink**) 09-19-2008, 01:52 AM

A major department store here in the Philippines (called SM)offers an Advantage Card that rewards one peso for every peso that the card holder spends in the store or at various affiliates including a large pharmacy chain. The latter is where I have used the card most often for especially for prescriptions, which of course is very expensive.

However, thanks to the resulting Advantage points that DW and I have racked up buying medicines and even toiletries (There is no restriction on type of merchandise allowed for earning points), we almost have enough of a reward balance on our Advantage Card to get a new refrigerator at SM.

Harina · #17 (**permalink**) 09-26-2008, 05:25 PM

Yeah, while I was at Walgreens today, they had a special on sugar free candy - 2 bags for $3.00. My hand went out to grab one, and a little voice in my head said, "do you want it, or do you*need* it?" No, of course I don't need, it, I want it.. so I left it alone.

Now that we're trying hard to save $$, I ask myself, "do I *want* it, or do I *need* it?"... that always helps.