Vince value Vault: Maximize your shopping experience

Welcome to the first post in a new series called “Vince’s Value Vault!” This series is dedicated to helping you, the savvy consumer, navigate the tricky world of shopping and dealing with big companies.

Topics will include tips and tricks for finding deals as a consumer, spending wisely, and securing a consumer position in a world increasingly dominated by AI, automation, and corporations. Does the buyer have any remaining capacity? We will see. Unfortunately, if you’re losing weight lately, then we’re all going to need as much help as we can get.

With an experience of 60 years + (I like to say that I am 20 years old with 40 years of experience), I started learning at the age of 4 from my father – who was a savvy salvy finder. Early on, I got a childhood PhD in Fugality, learning from a man who had to provide for eight children on the salary of books.

After my childhood apprenticeship, I began a 40+ year career in marketing technology – Consulting mainly to large organizations on how to build marketing systems. As a breed consultant by day, and a buyer by night, I’ve gained perspective on both sides of the equation.

Today, we’re kicking things off with a list of the Baker’s dozen (13) essential tips and tricks to ensure you get the best value for your money. In future posts, we’ll dig in and keep the Real-Life tips and examples coming!

Top tip:

• Do your research – Before making any purchase, it is important to do your homework. Compare prices at various retailers, read customer reviews, and check for any online discounts or rebates. Websites like Pricegrabber and Google Shopping can help you compare prices easily.
• Learn the nuances of the market you are buying from – That means there is no such thing as a single market. There are local markets – local markets and global markets. There are markets served by large companies and served by smaller ones. Work to better understand the market you will be buying into, which will inform you about the market parameters in that market. For example, from time to time, I shop at farmer’s markets, and I have noticed that many of them have price adjustments. All sellers are competing (perhaps completely) selling at the same price. This means you won’t find deals there, because competition isn’t a factor.

Now, the Baker’s Dozen:

1. Limited time spent finding savings with savings opportunities – In other words, spending even 15 minutes to save less than $1 is not worth it. That said, everyone has their own threshold. Mine is usually $1 per minute. So, if I can save $5 and it takes me 5 minutes, I’ll do it.
2. Never make a big purchase with humility – Instead, create a spreadsheet with a simple set of columns to set the decision and options, and make a quick online purchase. This will help you narrow down the exact product you want, as well as getting a good price for it.
3. You will always trade at a quality price – So understand this and note that usually paying more up front does not mean paying more later, but it depends on whether you really want to use this product without investing or replacing it.
4. It is not uncommon for you to purchase an additional warranty – Companies make huge margins on these. If you simply consider the cost, usually a large fraction of the cost of the product, you are better off taking the risk and paying for another product if it fails. Usually, there is a basic warranty anyway. If this is an expensive product, like a car, and this is important to you, make this an important factor in your purchase decision – that is – the length of the base manufacturing warranty, and if it includes parts and labor
5. Use Cashback and Rewards programs – Many credit cards and online platforms offer Cashback and Rewards Points for purchases. Be sure to sign up for these programs to get cash back on your existing purchases. Websites like Rakuten and Ju offer money in a variety of ways.
6. Sign up for newsletters – Brands often send special discounts and promotions to their email subscribers. By signing up for newsletters from your favorite stores, you can get exclusive deals straight to your inbox.
7. Use Price Tracking Tools – Tools like CamelcamelCamel and Honey’s Droplist feature can help you track the price history of products on platforms like Amazon. These tools alert you when prices drop, ensuring you’re getting the best deal.
8. Shop for Sale Events – Take advantage of major sales events like Black Friday, Cyber ​​Monday, and annual sales. These events often include significant discounts on a variety of products.
9. Contact customer service – Don’t be afraid to negotiate with customer service representatives, especially when dealing with big ticket items or services like cable and Internet. A polite request for a discount or price negotiation often yields surprising results.
10. Use coupons and promo codes – Always search for coupons and promo codes before completing a purchase. Websites like retailmenot and coupons.com offer a plethora of discount codes for various retailers.
11. Think of an open box and recycled materials – Open box and refurbished items can offer significant savings while still offering high quality products. Retailers such as Best Buy and Amazon have sections dedicated to these items, often with included warranties.
12. Take advantage of free plants and samples – Many companies offer free trials and samples of their products. This is a great way to try before you buy, to make sure you’re only spending money on things you really like and need.
13. Read the return policies – Always familiarize yourself with the seller’s return policy before purchasing. Understanding return and exchange terms can save you from potential headaches and ensure you can get your money back if needed.

By following these tips and tricks, you can make smart buying decisions and get the most value out of your purchases. Stay tuned for more insight and advice in future Vince’s Value Vault posts