With the baby boomers rapidly reaching retirement a genuine fear of finances is creeping in causing the 60+ crowd to seek out bargains. But not every bargain is a good deal, and there’s an adage that still rings true - you get what you pay for. It may be o.k. to buy cheap paper towels instead of the designer brands in order to save money, but you wouldn’t buy milk that’s on sale with an expiration date of yesterday. In the spirit of economic savings, here are some free tips to help you get the most out of your money.
10 for $10 dollars sales at grocery stores: Although getting 10 jars of spaghetti sauce for 10 bucks seems like a good idea, there’s no need to buy 10 jars, or cans, or boxes of whatever if it’s not part of your regular diet. These kinds of sales are pushed on consumers when markets what to get rid of old inventory. Instead, buy what you need and use the money for something else. So if you only need 3 jars, buy only 3 jars - you will still pay a dollar for that item. However, if you happen to like that product, then stock up with as much as you can afford.
Don’t just rely on store coupons: If there’s a particular brand that you like but you can never find a store coupon for it, then just go to that brand’s website. Sometimes, a manufacturer will have their own coupons on their site for you to print off and use.
Make a list and stick to it: It’s easy to get distracted by bells and whistles, or shiny objects when shopping for anything. A good way to keep to your budget is to make a list of the essentials that you need so you don’t get seduced off your path. List making can be applied to every purchase from food to cars to even a lifestyle change. For example, in many cases, it’s more cost effective for seniors to remain in their own homes instead of moving to a retirement community. For those looking to continue living at home and save money, you may want to consider purchasing a medical alert system. With all kinds of services out there you will want to make a list of features most important to you and carefully compare costs with the company’s services and reputation. A medical alert system is the one investment you truly get what you pay for, and you don’t want a bargain brand when your life is on the line.
