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Two Secrets To Saving Money (Hint: Instant Gratification!)

It’s been said that we Americans live in a world of instant gratification. We want the coolest gadgets and gizmos, the best food, the best cars, the best everything… right this very second. We are impulse, we are impatient, and most important of all, we are able to fund our impulsiveness and impatience with lots and lots of spending.

You know who else knows this? Stores. There’s a very good and profitable reason why there are tabloids and candy bars at the checkout aisles (one of the reasons why self-checkout kiosks haven’t become more ubiquitous is because you can’t sell someone high margin items like magazines and candy if they’re busy checking themselves out… plus the machines always break for some reason). Anywhere you go, you’ll likely see some small little item by the register like a trinket or a small votive candle or whatever. You’re impulsive and stores know it.

You know who else knows this? Salespeople. If you ever get a quote from someone to do work on your house, you’ll always get a special one day deal. You’ll always get an “awesome deal” that will only be good for the next three days. If you go into a store with salespeople, say furniture, you’ll always be offered six or twelve months of 0% financing if you buy today. One day offer!

Advertisers scare you by showing a burglar breaking into your home and then flashing a number for a security system company. They show you beer and snack commercials during football season and they show you pizza delivery commercials late in the evening. They know that they can take advantage of your need for instant gratification to bypass your normal decision making patterns. They’re smart… but you’re smarter.

Remove the allure of instant gratification and you can save yourself big money.

You don’t need that tabloid and your stomach doesn’t need that Three Musketeers bar. You shouldn’t take that contractor’s awesome one day deal because you can probably do better shopping around. Finally, furniture will always have 0% financing. Always. So, remove instant gratification from your life and you can save yourself money; here are two reasons why:

Shopping Around

If you resign yourself to always get at least three quotes on something before you buy it, you’ll save yourself money even if you do nothing else. While this seems obvious for things like high dollar contracting work where there are plenty of differentiated suppliers, it works even for commodity type things like DVDs and books. There are two reasons why this is effective:

Is Time A Factor?

Sometimes time is a factor and you need to buy something immediately, such as airline tickets. However, if time is not a factor, consider waiting for the sales to come to you. There are plenty of bargain airline ticket places that will send you their latest fare sales, just wait for a good deal before pulling the trigger on tickets if there isn’t a specific event you’re going to. This same rule applies for items. Amazon.com has rotating deals on all classes of items, just wait until your item goes on sale before you buy it.

So, the next time you want to buy something, take a step back and try to find three alternative stores (or three alternative items that may be cheaper but serve the same function) and think if time is a factor. These two alone will save you a bunch of money you can better spend on a trip to Europe! (just wait for the deals!)