Advanced Frugal Shopping: Never look for the BEST Price

by David Bakke

shoppingI consider myself to be a very smart shopper.  For purposes of this article, I am referring to purchases of “stuff”, meaning, not groceries, clothes, or anything else that I guess you would call “necessary”.

So like I said, I consider myself to be a very smart shopper.  As a matter of fact, purchasing a lot of these items is a very big part of the secondary business that I started last year.

The less expensive that I can find things for, the more money I can make.

I always try to utilize some sort of waiting period before I buy an item (if it is for my own personal use).  I try to do this for a lot of reasons.  One, to determine whether I really NEED the item.   Two, to determine if I really WANT the item.  Third, by going through this waiting period, I can usually find it on sale somewhere, and fourth, it allows me to go through my proper research of the item to make sure I am getting a very good price.

 I also never try to buy anything that has just come out on the market.  And if you are one of those people who feel that you need these items, you are costing yourself a lot of money.  Retailers bank on this mindset, and therefore, usually charge outrageous prices for things right after they hit the market.

So one would think that the most important part of being a smart shopper is to find the absolute best price possible.  However, I soon found this to be wrong.  Dead wrong.

Let me explain why.  If you look at the world of retail, the prices of virtually everything almost always consistently go down.  I can think of no one item whose price increases over time.  This is because of technology, of supply and demand, and quite a few other factors.

So, you can simply sit back and wait and wait and wait, and the price of whatever item you are considering will continue to go down, down, down.  But guess what?  You’ll never get the item.  You will be chasing that “pot o’ gold” for as long as you live.

It used to be maddening to me to see an item that I just purchased a few weeks back somewhere for a price significantly less than what I paid for it.  Now, it doesn’t bother me at all.  It doesn’t bother me because this is always going to happen.

I do firmly believe that you should come up with some sort of a system when choosing to make these purchases.  Of course, I don’t employ any type of system for items under $20 or so, but for purchases larger than that, I usually try to go through the steps I outlined above.

Remember, you are not looking for the best price ever, only a great price.  And there is a big difference.  If you are looking for the best price ever, you’ll be searching for the rest of your life.

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