Sunday, October 14, 2012

Get Started: Comparison Shopping



Working on a budget can be difficult. Determining needs versus wants and finding the best deals takes time and energy. The results are often well worth the effort though. With rising prices for consumer goods and many employees taking pay cuts or receiving little in the way of pay raises, more people are adopting tighter budgets. Whether it is to live within one's means or as a tool to pay off debt, tight budgets require more preparation before heading out to shop. Sticking to a budget often includes price comparison shopping.

Comparison shopping can be fun and exciting. Just as hunters enjoy the thrill of the hunt, hunting for the best bargains when shopping is thrilling for the budget conscious consumer. It definitely helps stretch the budget and that creates more money for necessities and maybe even for a treat!

Every Day Shopping

For frequent purchases such as groceries, cleaning supplies and personal hygiene products, starting a price book will allow you to start comparing prices at local retailers. A price book can be as simple as a notebook, as complex as a multi-level spreadsheet or as engaging as a mobile app. A blank address book makes for a great notebook-style price book. Keep track of goods and the best price you have paid for them in alphabetical order. This makes them easy to find and compare when you are shopping. Spreadsheets can be designed to keep track of semi-annual sales, monthly specials and coupons as well as the best price for goods you regularly purchase. Several mobile apps allow you to keep the best price in hand, as you peruse the aisles of your favorite stores.

Special Purchases

For infrequent purchases, such as clothing, appliances and home furnishings, the internet is a great place to start. Several price comparison websites allow you to check different brands of the same type of product, or even the same product at several retailers to find the best price on a given day. Many mobile apps allow you to compare prices while shopping. No matter what type of product you are shopping for, many apps can show the best price available at local retailers or through online stores.

Social media outlets are helping consumers compare prices when shopping as well. Apps designed to work with social media websites will allow you to see when your favorite products can be found at the lowest price.
Common Pitfalls

Be aware of common pitfalls. Many retailers have some type of reward program that may or may not be helpful when comparing prices. Coupons for dollars off your next purchase are great, but only if the next purchase is already in your budget. Be sure to double-check shipping and handling fees when comparing product prices online. A high shipping rate may make a purchase more expensive in the end.

Budget conscious consumers know that using a variety of comparison strategies, including a price book for groceries, an app for price comparisons and utilizing social media outlets, you can find the best prices that allow you to stay within budget.

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