Big expenses come up every few years. Most of us consider these expenses unexpected mainly because we have not planned for them. The cost of a new refrigerator, a new motor or a new car can topple even the best planned budget. The number one way to save money on these big items (and salvage that budget) is to plan ahead.
Step One: Figure up the cost of the new item if you had to purchase it today – use monthly payments as your basis. Start setting aside the payment each month now so that when the need comes up you will have a lump sum to work with for your purchase.
Step Two: Watch for the sales that come up throughout the year for those items that you need or will soon need. The end of the season, just after or before big holidays and anniversary sales can be the best opportunities to discover the deal that you need. Use the money that you have saved up to make an even better deal on the sales items that you need.
Step Three: Ask to talk to a manager. Once you decide on the item that you want to purchase you need to talk to someone with authority to negotiate the best price. Managers normally have the ability to offer special deals or incentives particularly when it comes to a cash purchase.
Step Four: Shop around to find the best deal. Make a list of all the qualities you want in an item (the internet can be the best way to discover customer reviews and suggestions). Take your list to the stores. Ask if the store will honor or beat prices from other stores in the area. The little time and effort you spend looking around can translate into saving big money on the items that you need.
Step Five: Be willing to walk away from the deal. Starting to shop before the want becomes a must will give you the freedom to walk away from the sale if the negotiations do not go your way. Even when you are in a situation where you must purchase, do not be afraid to walk away and find a better deal down the road. A high pressure salesperson never has your best interest at heart. Find someone to work with that is more concerned with the customer than the commission.
Big items can be budget breakers when you do not plan ahead for their expense. Those big items do not have to knock your finances off balance. A little planning, a little savings and a little investment of your time can help you save money on the big items that you need to purchase.
Written by Peter “Van The VA Man” Brady who is A Veteran’s Administration Home Loan specialist based in Southern California who helps veterans get VA home loans and VA IRRRLs.
I assume you can even try and see if there is an affiliate program for that shop. I sometimes get up to 25% cashback off my holidays just buy buying from my own affiliate link.
Great idea about the affiliate link. Usually online prices are cheaper anyway. So if you can save an extra 5 – 25% off of whatever you’re buying it’s an awesome deal. Also consider getting a cash back credit card to save an extra percent or two…it all adds up. Just be sure you only use it for items which you can pay off right away.
You have written some good points to save money on big items…..I will definitely keep these things in mind before purchasing some big stuff….
Great ideas – especially “Be willing to walk away from the deal”.
Sometimes it can be tempting to just jump in there, but an even better deal might be just around the corner 🙂
Yes having the power to walk away is huge. Salespeople love desperate buyers because they are easy prey. If the salesperson knows you might walk away they are often willing to come down in price. In western cultures this often only works for big items, but in other countries it is very common to haggle over price of almost anything. Also if you can walk away from a deal, you can present that same deal to another store and see if they can beat it.
you can always buy used items for half the price…. or if you wnat to buy an Iphone – buy the Chinese version! is all about how much are you willing to compromise quality/price
@ Baby England Kit: I heard about the Chinese Iphones! Pretty hilarious, but hey it does the job, right?
Nahh, china phones don’t have the features that you wanna have from the original phone makers.
We were watching the new Karate Kid movie the other day and joking to each other maybe we can see one of the Chinese Iphones. Do they seriously do the job like an actual one?