I get a lot of people asking me how I manage never to pay retail prices for anything. This isn't a casual question asked in polite conversation mind. This is more of an intense interview after backing me into a corner type of question. So, in order to reduce the number of creative escapes I must make each month, I thought I would post some of my best tips for
not spending money, right here. The short answer is research. But the details are so much more complicated. I can't do it in a single post so we'll categorize.
I thought I'd start with one of my favorite subjects; furniture. I am a furniture lunatic. I admit it. And I refuse to seek therapy. The following rules have some of my favorite finds interspersed. You'll see why therapy for my furniture obsession would only cost me much more money in the long run. Only a woman obsessed would go to such lengths to find her caviar tastes for sale at pizza prices.
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New puppy whose nickname is now "Satan." |
Rule #1: If it isn't on sale, don't buy it. Period. Just don't. OK, so the new puppy just ate a hole in your leather sofa. You liked that sofa. It was comfy. It was part of your football watching routine. So, you check the Sunday circulars. New leather sofas are $1000.
DO NOT buy one. Instead, decide which style you like. Fashions change and furniture fashions are no exception. You may or may not want one just like the previous one. All you need to do for now is decide what the replacement should look like and what quality it should be.
Rule #2: Sales are good. Clearance is better. So maybe you can find some leather sofas on sale for $800. Do you really want to pay $800? Many furniture stores have clearance sections that they do not advertise. RC Willey has an undecorated warehouse-like room in the back of its stores. This is the clearance section and it is your friend. Yes, you will have to actually visit the store to see what is there but it is sooooo worth it. (They also have some limited items online at
rcwilley.com/Outlet.) You may find a reasonable match for that sofa for $400. Much better, yes?
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I fell in love with this silk sofa at first sight. It was nowhere near my budget range.
By chance, I found it in the clearance room months later. It is now the reading sofa in my bedroom.
Satan has a restraining order against him regarding this sofa. He's not allowed within 10 feet of it. |
Rule #3: Discount stores are the bomb. Steinmart, Tuesday Morning, Home Goods, Marshall's, Big Lots; all these are chains that carry quality items below retail. Some have furniture, some don't. Also, the stock varies and many of the items may be one of a kind depending on what the closeout item at the retail store was. Know where they are, what they carry, and how they are laid out in order to spend the least amount of time and money in them.
Rule #4: Know Thy Comparables. I'm not going to use the word "knockoffs" because these are not knockoffs. The fact is there are many "designer" brands out there that are made by the same manufacturers who also sell to lower end clients. For all intents and purposes, these lower end stores' versions are exactly the same as the designer version, minus some detail (or sometimes plus details). A good example is Pottery Barn and Target. I
love the Pottery Barn catalog! But, many times I find the same item at Target or http://target.com for much less. And of course, I don't ever pay retail at Target. I wait for a sale
and use my Target Visa and get another 5% back on the purchase. Which brings us to...
Rule #5: Use a card that pays you back. This one is getting easier as so many will offer you a percentage of your money back either in cash, money off your purchase, or points to be used toward gift cards. Discover gives cash back which they build in your account. You can either take the cash value or you can use it toward gift certificates for less than the face value of the certificate, i.e. $40 cash gets you a $50 gift card. Guess which one I choose.
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My children are responsible for my reputation as a bargain hunter extraordinaire.
This "purchase" is one of my most famous. |
Rule #6: Craigslist. That $1,000 leather sofa? Found, brand new, on Craigslist for $195. No, I am not joking. They bought it on sale and could not return it. The wife hated it. I paid them $200 even. Now that's therapy.