This post is part of a series called the “30 Steps Program to Financial Independence.”
Yesterday, we discussed how to prioritize your spending. The idea is to allocate a larger portion of your income to things that are important to you and cut back on secondary or unnecessary expenses.
For instance, my priorities include traveling, eating well, technology, and reliable, high-quality items. I’m willing to spend more on these areas.
I currently ride a BMW 2010 motorcycle that I bought for over $10,000 a few months ago. I needed a dependable bike for a 15,000-mile journey across Europe. After using it for 12,000 miles, it’s been completely reliable without a single issue. A cheaper bike might have left me stranded with technical problems.
I was happy to invest in a quality motorcycle, but I also made sure not to pay more than necessary.
This brings me to my main point: always look for ways to get what you need at a discount. For example, I furnished my three-bedroom flat for about $1,000 by finding great deals on Craigslist. I found quality pieces at a fraction of the retail price.
The same goes for technology. When I need a new laptop, I look for the best price that meets my needs. Many people replace their laptops every year without even utilizing their full capacity. My compact, sturdy laptop has lasted almost three years despite heavy use and has traveled with me through various conditions. And it only cost me about $350.
To ensure you get the best deal:
– Always search extensively before making a purchase. Whether it’s a plane ticket, a big household item, or a new dress, there’s usually a promotion or discount available.
– Avoid being too specific. I needed a compact laptop that allowed me to work online and had a long-lasting battery. By not fixating on a brand or color, I found a great deal.
– Visit stores if you want to try out an item or need advice, but then do your research online. Some apps can compare prices on your smartphone, which can help you negotiate better deals in-store.
– Don’t hesitate to bargain. Ask for special offers or discounts, and be ready to take your business elsewhere if needed.
– Consider buying the display item. These often come with the same guarantee as new items and are sold at a discount.
– Know exactly what you need. If a basic laptop does the job, don’t spend more on unnecessary features.
Also, check out cashback sites that give you a small percentage back on your purchases. Over the past three years, I’ve received about $600 back just by using these sites.
By following these simple steps, you can save money while still getting the items you want.