The Power Of The Dollar: Guest Post by Katie Bransson
The dollar from our wallet doesn’t go the distance it used to, say 10 years ago. The buying power of the dollar has gone down. We end up paying more for the same things we used to buy for less a decade ago. That would mean either our wallet should get bigger with the times or our spending habits should get less to be able to manage our finances with a limited budget. At times, some of us find that our salary increases per year in our jobs may not increase the same way as the cost of living does, so what do we do? Get smart!
Smarter Shopping
One of the ways of getting smart is to buy only the things we ‘need’. Not buy what we want or think we want or buy such as impulsive items on a hunch without thinking thru the consequences of the purchase we are making. We can ask ourselves the following questions each time we feel that we are buying something out of impulse:
1) Need or Want: Do I really need this item or am I buying out of an impulse because I feel I want this item?
2) Usefulness: Will I be using or utilizing this item or service immediately or will it be sitting somewhere in the cupboard or drawer without any immediate use?
3) Time value of money: Is the purchasing time appropriate? Can I defer this purchase for the future?
Using Coupons & Deals
When you buy items or services you need, then the best way to stretch your dollar a long way is to use coupons and deals related to the item or service. This would mean you can get more of what you really need with less money going out of your wallet. You can use offline means of finding coupons in newspapers or you can use online coupons & deals websites to find the best offerings to the items you really need. Even if an item is on sale or has a coupon, if you do not need it then try to remember what we suggested earlier on in terms of asking yourself the set of questions above to make an informed decision.
Katie Bransson is a contributing author for http://www.FAVON.com , a site which brings Your Favorite Coupons and Deals from Multiple Sources in one place.
Feel free to watch the entertaining video about how smart this fellow in the video is.