Disclaimer: I earn referral bonuses when you use my Rakuten link.
You might think it’s getting harder and harder to comparison shop for fair prices on the finer things you want these days. After all, in this current inflation economy, the prices of everyday goods have risen so high that no stores, not even the ones with the best deals, have the prices you used to see. However, it is not impossible to still find good deals, even on the most rarely-discounted of items, such as popular gaming systems and certain name-brands of clothing. Sometimes, you just have to get more creative. Keep reading to find out more.
Do the Math
You might find a price that seems great at first glance because of the way it is presented or broken down for you. But many times, the total price you’ll end up paying in these situations are higher than you would pay elsewhere. For example, when recently shopping for an Xbox console which is priced at $499.99 most places at the time of this posting, I found an option from my cellular company for $36.99/month for 24 months with 0% APR. Sounds great, right? No interest, low upfront cost, reasonable monthly payment. However at this pricing, after 24 months of paying $36.99, you’ll pay a total of $887.76. You’ll pay almost $900 for an item that would otherwise be $500! I have also found similar situations when shopping used car deals, membership services, and more. There is no substitute for the math!
Don’t Give Up
Continuing to use my above example of shopping for an Xbox, I started my search with my typical procedure of checking my favorite cash back site (Rakuten: if you want to join, click here to earn $30 from your first purchase) with a search for the item. I investigated the prices and potential deals from all the vendors that popped up. Everywhere I looked, $499.99. Then I decided to expand my search a little further, pulling from any company I’ve known to sell electronics (which is how I stumbled on my cellular company’s pricing above). I finally found the best current price, which came from my local warehouse store, for $479.99. Of course, if you’re willing to buy refurbished or open box, that is always going to be a better price! But $479.99 seems pretty good for brand new, sealed in the box. However, it’s the best I’m finding now and I don’t want to pay it. This leads me to the next item, but if you need something now, you can see how not giving up too early allows you the chance to find the best dealing hiding just around the corner.
Timing Is Everything
At the time of this posting, the best price I’m finding for an Xbox (prior to applying cash back, coupons or rewards) is $479.99. However, I am in no rush and I know Black Friday and Cyber Monday are fast approaching. By waiting it out, I am much more likely to find the price drop I want to see before I need to make my purchase. Typically, there will always be an upcoming holiday weekend or occasion where you can save money if you’re not in a hurry to make your purchase. Check your calendar at any time of year for New Years savings, Martin Luther Kings Day, Veterans Day, etc. If you plan ahead for your shopping, with time on your side, you will always save!
Coupons and Promos
So, you’ve found a good deal. The sale price is to your liking and you’re ready to buy. But don’t commit just yet. When I am ready to buy, I ALWAYS scour the website and my inbox for available coupons or promos to comparison shop to the extreme. Why settle for a good deal when you can get an even better deal? It is extremely satisfying to see that discount drop even more. The one trap to watch out for with promos and coupons is that sometimes they can lure you in to purchasing more than you need or buying for a higher price because it looks like you are getting a great discount. If you are confused about this at all, circle back to my first rule, Do the Math.
Hesitation Pays Off
Sometimes when I’m ready to buy, I just don’t. There are two reasons behind this method. First of all, for the purposes of sticking to my budget, this delay allows me the time to reconsider whether I really need to be making this purchase at this time. Many times, I realize once I step back from my shopping that it’s unnecessary. Nothing is a better savings than not buying at all, and I suspect you’ll find this is true for you as well. The second reason I do this is that oftentimes, the retailer will realize you need that extra push to make your purchase when they see items lingering in the cart. I cannot rave enough about the bigger and better deals I’ve gotten by simply waiting. You might even find that the more expensive retailer on your first comparison shop ends up being the better deal. Because inevitably, that additional discount offer that wasn’t there before or promotion no one else is getting will arrive in my inbox. Try it out for yourself.
Be Aware of Manipulation
One thing to always keep in mind while mastering this art is that there are two sides to this careful planning. Just as you are planning and comparing in order to get the best deal, retailers have perfected ways to convince you to buy more, shop longer, and keep coming back. When you add an item to your cart, you’ll often see warnings of, “only three left!” You’ll receive reminder emails that your cart is full (without the coupon offer we hope to see). The more you have a clear mind of what you need, for what reason and how long you need it before you shop, the more likely you are to master this art and feel like a win every time you complete a purchase.