12 Ways to Save Money when Shopping Online by Angela Oberer

Millions of Americans are financially illiterate – they’ve either strayed from the basics or they never studied money management in school. With soaring inflation costs and sinking value in the dollar, it’s more important than ever to stop and evaluate at your online spending habits.

As we start the new year, here are twelve simple solutions that can help you save more and spend less while online.
 

1. DO YOUR RESEARCH. Websites like www.epinions.com list a multitude of products and then give you along with reviews from consumers, the best price and place to purchase the item(s) you need.

2. DON’T PAY FULL RETAIL. Eventually everything goes on sale.  Shop the sales and buy when the stuff you need or want is offered at a discount price.

3. CONSIDER “LIKE NEW” OR USED. www.Amazon.com sells millions of products now offering both new and used items, with the used items offered at steep discounts. www.Half.com sells books, DVD’s and CD’s in new, like new and used conditions at half off or more. And of course you can always check www.ebay.com for anything and everything. Local thrift stores also offer gently used merchandise ranging from kitchen utensils to exercise equipment and clothing in a wide range of sizes, usually for a fraction of what it would cost to purchase these items new.

4. BE ENTERTAINED FOR LESS. www.Blockbuster.com came out a few years ago with a program that let’s you rent unlimited DVD’s and Video’s for less than $20 per month. We joined this service and found that for less than the price of two movie theater tickets, we can watch the classics, new releases and educational programs. It’s so easy, you simply choose from over 30,000 titles, make a list online and they send you three at a time in the mail. You watch them and mail them back and they send more from your list. No late fees, no shipping charges and no trips to the video store.

5. USE A DEBIT CARD VS. A CREDIT CARD. Debit cards will keep you from racking up credit card bills that charge hefty interest rates allowing you to only pay with money that is in your bank account.

6. SIGN UP FOR BANK BALANCE ALERTS. Many banks offer a daily email service that emails your bank balance to you each day so you can keep your spending in check. It’s the same philosophy as climbing on the scales each morning - it keeps you from letting things slide out of control.

7. UTILIZE PICK UP SERVICES. Many stores like www.Sears.com offer pick up services where you purchase your items online and then swing by a local store to pick up the item purchased. The item is pulled and waiting for you when you arrive, which keeps you from wandering through the store and impulse shopping and saves you shipping costs.

8. SHOP FROM A LIST. Many people make shopping lists when shopping retail stores, but they neglect to do the same when shopping online. Same rules apply to keep spending in check. Do not buy anything not on your list.

9. WAIT 21 DAYS. Compulsive spenders often get fixated on a particular item and they’ve gotta have it. If this sounds familiar, get out your calendar and write the item down 21 days in the future. Your savings will be biorhythmic – If you wait for 21 days before making the purchase, you will most likely be in a different mood and will either not need/want it anymore – or you will have given it enough thought that you are prepared to buy.

10. HALT – Never purchase anything online when you are Hungry, Angry, Lonely or Tired. Buying decisions made during those moods are not likely to be wise.

11. USE COUPONS. Many online retailers accept coupons and when you go to check out, there is a place to enter the coupon. When you see the coupon code – that is a mental trigger that a coupon is available. If you don’t have a coupon, email the company and ask for one, often they’ll send them to you free.

12. COMPARE PLANS. Shop online for better rates for your insurance, telephone & long distance service, cell phone service, interest rates for credit cards, bank loans, and savings plans. It is wise to compare your existing plans with new offers every six months or so. You can usually switch to a better plan with little or no switching fee.

Angela Oberer © 2008, Oberer is the author of the "Be Well Series".  You can send your questions and comments to her at: Angela@WordsofWellness.com