Thoughts On Finance

In a struggling economy, more and more people are looking for ways to save money.  Many stores, however, are taking advantage of this market and are trying to convince you that they are running sales and specials, that are really no bargain at all.  The only way to really spot this out is to know your prices.  If a price is genuinely lower and bumped up for the sole purpose of discounting it and still making close to the same profit, then really it is just a scam to get you to spend your money.  That is why it is very important to be a wise shopper.

TIPS TO SHOPPING WISELY:

• Shop with a list.  This will keep you from being drawn to items that you don’t need just because they are “on sale”.
• Be sure to use flyers from stores as well as the internet to shop around.  Many times when a certain store in your area has a product on sale, you will find that other stores in your area will reduce the price on that item even more.
• Know the prices of the items that you regularly buy.  This can help you spot what is truly a good deal.
• Consider buying items that you use a lot in bulk.  Some of these items can actually be purchased online and shipped to you for less.
• Don’t impulse shop.  If you have a specific need, then look around before making a purchase, don’t fall into the trap of I need it right now.  This can allow you to fall victim to price gouging.
• Don’t be afraid to wait.  Many times we just buy what we need because it is there, but it is truly best to buy everything when it is at its lowest possible price.
• Ask around.  Many times when you are looking for a good deal on something, the people you know can be your biggest helpers.  So don’t be afraid to ask, they may just know a friend of a friend or a bargain basement store where you can get a better deal.

It is important to use all the resources available to get the best prices these days.  So don’t just buy the ads that the stores are running.  Do the comparison yourself and you will find this method can help you really save big.

The current economy is meaning big savings for consumers.  This has a lot of people watching the stores for ads and sale days, and waiting to buy the items they want on sale.  This is a great idea, but watch out, because the stores know that you are looking to save money, and they are all juggling their sales so quickly, while altering their prices, that a savings may not really be a savings at all.

Let me sight an example.  Recently I received an e-mail from a popular clothing store that usually charges a lot for their clothing.  The sale e-mail said it was 30% off of everything, including clearance stuff, which we all know is unheard of.  Also, shipping was free over $100.00 so I took advantage of the sale and placed an order for some great items.  One of the things I bought was boys shirts, which were on sale for 2 for $30.00 and then I got an additional 30% off, which made these shirts about $10 a piece.  I placed my order and not 24 hours later, I received an e-mail telling me that they now had everything 50% off, so I really thought I had been had.  I went back online to look at these shirts that I had purchased the day before, and they were now priced at $34.50 per shirt and so with 50% they would cost me $17.25 per shirt, a good $7 more than I had spent.  I was relieved, but this just goes to show you that a sale, may or may not really be a sale.

It is important to shop around and even re-shop the same stores over and over again to insure that the deal you are getting is really a deal.  Realize the consumers are looking for the deals, and so the stores may make you think that you are getting one, even when you aren’t.  Shop wisely and you will see that there really are some great deals out there, but don’t be fooled by the make-believe deals that some stores are putting out.

Most American’s are thinking that with a National Debt of over 10 Trillion dollars why is this guy already spending this much money when he hasn’t even taken office yet.  Well, on some level, we all are aware that spending is actually what keeps the economy going, but let’s face it, we also know that we need our money right now, and most people are not running around spending all that they have.  So why does Obama think that his stimulus package will work when Bush’s didn’t.

The answer to that is both complex and simple.  When Bush set out to stimulate the economy, he did so by sending checks to individuals and families.  Great in theory, however most American’s who were already struggling used those checks to pay bills or stashed it away for a rainy day.  Therefore, we did not all run out and shop for new items and that in turn did not do for the economy what Bush had hoped.

In Obama’s plan, which does include checks to the American public, it however does not rely on them to be the stimulus.  It is offering a much more comprehensive and multi faceted approach to stimulating the economy which includes sizable tax deductions for businesses for each new employee they hire on.  This will help create jobs, which in the long term seems like it will have a bigger impact on people’s spending.  After all, you can’t be out spending if you don’t have a job at which you can earn some money.

If you look over the plan you will in fact see that Obama’s plan will help stimulate the economy which will not only help the individuals but also the businesses and the unemployment rate.  Overall, this plan is cheap compared to how much Bush has spent on bail outs in the last three months.  At least the Obama plan stands a chance.