A lot of my purchasing is reactionary, which makes me pretty much like everybody else. I buy things because I've just discovered that I need them. The knob falls off a sink stopper. I'm out of toilet paper or milk. I need a dress for a special luncheon. I notice that my black dress shoes have gotten shabby. So I make a trip to the store or the shopping mall. Or I check my old faithful online stores. Maybe I look for the best prices available online, or check several stores at the mall to get the best price. But according to the best frugalist advice, this is NOT the best way to conserve your resources.
You shouldn't wait to buy things until your need is urgent. This is a concept I originally learned in Champagne Living on a Beer Budget, but Tightwad Gazette covers it, too. The concept is logical. The best deals on any item probably won't happen at the moment we discover we need it. Therefore, we should anticipate that need and keep an ongoing lookout for an excellent deal and purchase the item BEFORE we need it. That makes sense, but as usual, the trouble is in executing this good advice. This way of buying can save you quite a bit of money, but you have to use advance planning. You have to be... ORGANIZED.
I've been aware of this buying model for years, but didn't use it much in the past. I'd stock up on shampoo, maybe, and buy big bargain packages of paper towels and toilet paper, but that was about it. I was so busy working that I didn't have the time. Now I do, but I find that old habits die hard. I still buy most things when I need them, but I'm slowly doing better. After all, I am now retired and have a lot more time for planning and keeping an eye out for bargains.
Keeping lists is a help, but so is simply noticing, when you replenish the shampoo or soap, that there are only two bottles or bars left in the linen cabinet, and putting shampoo or soap on a list of things to scout for. Some things, like shampoo, aren't a problem for me. I like the inexpensive Suave or White Rain brands I can buy for about a dollar at Dollar Tree, so it's just a matter of scheduling a trip to that store sometime before I run out and have to grab more expensive shampoo somewhere else. Likewise, I haven't paid more than a dollar for toothpaste in years. When I do go to the dollar store, I check the toothpaste offerings, and if they have one brand or other at that price, I grab several tubes. Sometimes they don't, so I wait and don't buy. I try to keep several tubes on hand so that I don't end up paying more.
This seems kind of natural for things I buy all the time. But what about one-time purchases, or things I buy much less frequently. There are two keys here. First, try to anticipate your needs well in advance, at least a year if possible, and make a list. Second, if you have an urgent need to buy something right away, try to figure out how you can defer that purchase.
Anticipate Your Needs: Even the most accomplished frugalist isn't going to be able to do this 100% of the time. But all of us can avoid being surprised by "emergency" needs a lot more often than we are. Just make note of things that you think might need replacing as you notice them. For example, my garden hose is on its last legs, so it's on my list to buy when I see a good special. You should especially do this with your wardrobe. Anticipate every possible type of event you may be called upon to attend and plan what you would wear, down to shoes and accessories. You should have something on hand for weddings, graduations, hking, formal events, "dressy" luncheons, funerals, a day at the beach, anything you remotely think might come up. Then start making lists and little by little, picking things up on sale, so that when one of these events arises unexpectedly you don't have to rush out and buy anything at full price.
This process is kind of an art as much as a science, but it will help you save really a lot of money. It also makes me feel so much more in-control and prepared. To jog my memory, I also sometimes check Consumer Report's list of what goes on sale each month. I know that I need a new pair of good walking shoes, for example, so by checking Consumer Report's list I see that I should probably wait until May, when athletic shoes typically go on sale. If I want to buy new dishes, June would be a good time. This doesn't mean you can't find excellent deals at other times, but retailers do have specific times of the year when they discount items they know a lot of people will be looking for.
If you think you need to buy it right now, especially at full price, find an alternative. This second key is more about discipline and creativity than planning. This concept, very foreign to me at the time, came from Champagne Living on a Beer Budget. The idea here is to just stop the reactionary "emergency" spending. This works on all scales. You have a lingering cough and are thinking about buying a pricey package of Vicks lozenges at the grocery? Buzz buzz buzz... your "reactionary buying" alarm should be going off. Is it really an emergency? You know you could get an equivalent store brand for half the price somewhere else. Also, you have a recipe for a soothing syrup you can make at home from all-natural ingredients you already have on hand. So... the smart money skips the Vicks, makes a batch of natural cough syrup, and puts generic cough lozenges on their discount store shopping list. Savings may be only a couple of dollars, but remember... these little savings add up in a big way.
You use the same concept with bigger items. Your dishwasher breaks down? You can rush over to Sears and buy one at full price. Or you can wash dishes by hand for a few weeks until you spot a good sale. You are invited to an evening wedding that requires semi-formal attire, and you have nothing to wear! A man can always rent formal wear, and rentals are available for women, too. But a women may be able to put something together from what is already in her closet. Every woman should have a long, black skirt in a silky fabric because you can add tops of every degree of formality to put together ensembles ranging from formal to casual.
Granted, there are plenty of times when you really do have to buy something for immediate use: gifts you didn't anticipate, clothes you find you really do need, a refrigerator that unexpectedly stops working and is not repairable, prescription medicine for unanticipated illnesses. There's no putting off some purchases. Even in these cases, however, it helps to have some idea of the most economical sources of such items, and often you can do some shopping around. You should know which pharmacy in your area tends to offer the best prices on prescriptions, where you can find interesting presents that impress but don't cost a fortune, consignment shops where you can buy gently used upscale clothes at a big discount.
I've started a new section in my household notebook to help me with my anticipated purchases. I've got a month-by-month listing of which things I buy and when they are usually marked down. I have a list of holidays and one of birthdays. A list of all the people I buy gifts for, with sizes and ideas for future gifts. A list of outfits (clothing, shoes, bags, and accessories) for reasonably foreseeable special occasions. And I keep shopping lists of things I think I'll be needing in the future, broken down by category. Household items, garden stuff, toiletries and personal care, clothing and accessories, and so on. I'm still working on this, but I think it's going to help me do better at avoiding "emergency" buying hazards.
You shouldn't wait to buy things until your need is urgent. This is a concept I originally learned in Champagne Living on a Beer Budget, but Tightwad Gazette covers it, too. The concept is logical. The best deals on any item probably won't happen at the moment we discover we need it. Therefore, we should anticipate that need and keep an ongoing lookout for an excellent deal and purchase the item BEFORE we need it. That makes sense, but as usual, the trouble is in executing this good advice. This way of buying can save you quite a bit of money, but you have to use advance planning. You have to be... ORGANIZED.
I've been aware of this buying model for years, but didn't use it much in the past. I'd stock up on shampoo, maybe, and buy big bargain packages of paper towels and toilet paper, but that was about it. I was so busy working that I didn't have the time. Now I do, but I find that old habits die hard. I still buy most things when I need them, but I'm slowly doing better. After all, I am now retired and have a lot more time for planning and keeping an eye out for bargains.
Keeping lists is a help, but so is simply noticing, when you replenish the shampoo or soap, that there are only two bottles or bars left in the linen cabinet, and putting shampoo or soap on a list of things to scout for. Some things, like shampoo, aren't a problem for me. I like the inexpensive Suave or White Rain brands I can buy for about a dollar at Dollar Tree, so it's just a matter of scheduling a trip to that store sometime before I run out and have to grab more expensive shampoo somewhere else. Likewise, I haven't paid more than a dollar for toothpaste in years. When I do go to the dollar store, I check the toothpaste offerings, and if they have one brand or other at that price, I grab several tubes. Sometimes they don't, so I wait and don't buy. I try to keep several tubes on hand so that I don't end up paying more.
This seems kind of natural for things I buy all the time. But what about one-time purchases, or things I buy much less frequently. There are two keys here. First, try to anticipate your needs well in advance, at least a year if possible, and make a list. Second, if you have an urgent need to buy something right away, try to figure out how you can defer that purchase.
Anticipate Your Needs: Even the most accomplished frugalist isn't going to be able to do this 100% of the time. But all of us can avoid being surprised by "emergency" needs a lot more often than we are. Just make note of things that you think might need replacing as you notice them. For example, my garden hose is on its last legs, so it's on my list to buy when I see a good special. You should especially do this with your wardrobe. Anticipate every possible type of event you may be called upon to attend and plan what you would wear, down to shoes and accessories. You should have something on hand for weddings, graduations, hking, formal events, "dressy" luncheons, funerals, a day at the beach, anything you remotely think might come up. Then start making lists and little by little, picking things up on sale, so that when one of these events arises unexpectedly you don't have to rush out and buy anything at full price.
This process is kind of an art as much as a science, but it will help you save really a lot of money. It also makes me feel so much more in-control and prepared. To jog my memory, I also sometimes check Consumer Report's list of what goes on sale each month. I know that I need a new pair of good walking shoes, for example, so by checking Consumer Report's list I see that I should probably wait until May, when athletic shoes typically go on sale. If I want to buy new dishes, June would be a good time. This doesn't mean you can't find excellent deals at other times, but retailers do have specific times of the year when they discount items they know a lot of people will be looking for.
If you think you need to buy it right now, especially at full price, find an alternative. This second key is more about discipline and creativity than planning. This concept, very foreign to me at the time, came from Champagne Living on a Beer Budget. The idea here is to just stop the reactionary "emergency" spending. This works on all scales. You have a lingering cough and are thinking about buying a pricey package of Vicks lozenges at the grocery? Buzz buzz buzz... your "reactionary buying" alarm should be going off. Is it really an emergency? You know you could get an equivalent store brand for half the price somewhere else. Also, you have a recipe for a soothing syrup you can make at home from all-natural ingredients you already have on hand. So... the smart money skips the Vicks, makes a batch of natural cough syrup, and puts generic cough lozenges on their discount store shopping list. Savings may be only a couple of dollars, but remember... these little savings add up in a big way.
You use the same concept with bigger items. Your dishwasher breaks down? You can rush over to Sears and buy one at full price. Or you can wash dishes by hand for a few weeks until you spot a good sale. You are invited to an evening wedding that requires semi-formal attire, and you have nothing to wear! A man can always rent formal wear, and rentals are available for women, too. But a women may be able to put something together from what is already in her closet. Every woman should have a long, black skirt in a silky fabric because you can add tops of every degree of formality to put together ensembles ranging from formal to casual.
Granted, there are plenty of times when you really do have to buy something for immediate use: gifts you didn't anticipate, clothes you find you really do need, a refrigerator that unexpectedly stops working and is not repairable, prescription medicine for unanticipated illnesses. There's no putting off some purchases. Even in these cases, however, it helps to have some idea of the most economical sources of such items, and often you can do some shopping around. You should know which pharmacy in your area tends to offer the best prices on prescriptions, where you can find interesting presents that impress but don't cost a fortune, consignment shops where you can buy gently used upscale clothes at a big discount.
I've started a new section in my household notebook to help me with my anticipated purchases. I've got a month-by-month listing of which things I buy and when they are usually marked down. I have a list of holidays and one of birthdays. A list of all the people I buy gifts for, with sizes and ideas for future gifts. A list of outfits (clothing, shoes, bags, and accessories) for reasonably foreseeable special occasions. And I keep shopping lists of things I think I'll be needing in the future, broken down by category. Household items, garden stuff, toiletries and personal care, clothing and accessories, and so on. I'm still working on this, but I think it's going to help me do better at avoiding "emergency" buying hazards.
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