How do you save money?
You save money by considering the entire cost of being satisfied with a product; not just price.
Look at the indirect cost you have to pay to save money. Come on. Think about the gas and time it takes to drive across town to save money. Think about the time you spend looking for the product when there is no one assisting you. And what if you are not happy with the product. Part of your cost is customer service.
There are some people who just don’t get it. They would rather drive across town to save a dollar. Are you one?
Maybe you are one who just doesn’t get it. Are you willing to drive 1 mile out of your way to save 2-cents a gallon on gas? Let’s see. With your car getting 15 miles per gallon in the city, $3 per gallon for gas (cheep) and a full twenty gallon fill up because you want to maximize your fill up, you just spent 40-cents of gas going 2-miles to save 40-cent on your gas purchase.
Maybe you are one who just doesn’t get it. Are you willing to drive a couple extra block (and back) to Lowe’s to save $2.50 on a $20 purchase rather than stopping and getting the part at ACE Hardware right there in front of you? Break it down: Say it takes 5 minutes to Lowes, 2 minutes across the parking lot and get into Lowes, 5 minutes to find the part, 5 minute to check out, 2 minute to return to your car, and 5 minute to drive back to where you began. Total time: 24 minutes. On the other hand, ACE is 2 minutes in the store, 2 minute to find the part by asking a customer service associate, 2 minutes to checkout, and 2 minutes to get in the car and be on your way for a total of 8 minutes. You just spent an extra 16 minutes of your time going to Lowe’s (or $2.50 if you are worth $10 per hour) to save $2.50 on a purchase.
Maybe you are one who just doesn’t get it. Do you buy lottery tickets? If so, then stop using an umbrella in the rain because it increases you chance of being struck by lightning; and everyone knows that your chance of being struck by lightning is higher than your chance of winning the lottery. If you survive the lightning and win the lottery, I have some bad news. Approximately 30% of all lottery winners file bankruptcy.
Maybe you are one who just doesn’t get it. Do you buy food at a discount grocery store? I know people who save money (20-30-40%) by purchasing their produce at a discount and then end up throwing 20-30-40% of it away because it went bad. Or they get 20-30-40% less quality because it was sitting in a warehouse for too long.
Maybe you are one who just doesn’t get it. Price should not be the only consideration in making your purchases. There are hidden costs that you should consider when making a purchase.
