The Wall Street Journal gave a glimpse on an article about the shocking spending habits of today’s generation a “Portrait of a Young Consumer.” According to that article young consumers spend far too freely on products for immediate pleasure. We’ve all heard the promotions.. “Why wait? You can go home with it today!” “You can have it and not make your first payment until next year!”
Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.
All it takes for the price to jump up by a lot is a little hiccup in the world wide market, note the price of gasoline as it relates to world affairs.
There is a way that we can keep these price increases from impacting our personal finances so much and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.
For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.
Set aside some space in your home and make a list of things that you use regularly which will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into so keep that in mind.
Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food.
You will be surprised at how much you can save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.
You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.
Try to acquire and keep a two year supply of these items and you can save hundreds of dollars.
Words of advise:
1. The urge to spend all you make is called consumer mentality. Try to get investment mentality instead.
Edward H. Romney
2. The thing I should wish to obtain from money would be leisure with security.
3. Lots of people know how to make money, but are not gifted in the art of preserving it. Frequently the same risk that was involved in making you rich is the same risk that can make you poor again.
Fred J. Young
4 Do the things you enjoy doing but stay out of debt.-Jhmenor