A DEEPER DIP into Great Savings

In our talks about honing in around the Great Saver attitude, and hunkering down for our own personal World War 3 of finance called retirement, we’re usually talking about saving money.

What we haven’t talked about is radical, pro-active savings on the stuff you already know you are going to need in the near future.  Sometimes this means forking over a little extra money today, to save money in long haul.  We’re not talking about canning produce, or hoarding boxed foods (interesting, but not quite the modern trend of our discussions).  What we are talking about is a making a few simple choices at certain times, which will easily enable an extra savings payment every year.  This would be an enormous breakthrough in savings, no doubt.

By now, you’ve probably seen the Super Coupon television shows — where people dumpster dive for newspaper coupons, showing up the grocer with coupon en masse, turning 17 giant baskets of products into their basement food horde for $22…

Image from: pop tower

I can’t promote that kind of behavior; though I can half-applaud it: super couponing is like a micro business, and indeed it does profit – however the profits are limited, and the earnings are not as good as other types of work or business…

The real issue with this Super-Couponing is the actual stockpiles of food this activity typically provides.

50 tubes of toothpaste –  not bad, a bit excessive though.
60 boxes of True Flakes cereal – won’t you get tired of that kind, won’t they get stale?
90 Gator-aides – that’s a lot of sugar in your future
600 toothbrushes – what???

The lack of food diversity in these food hordes is a bit estranging, and for any sensible-minded individual, buying a lot of these products is a bit like buying cigarettes: commitment to GMO laden food, and products filled with chemicals with unknown side-effect feels a bit dooming: sure, we buy these things anyways, but the commitment can be discomforting.  If the chemicals in one product aren’t great for you, the lack of revolving brands means our exposure to a single company’s chemicals becomes vastly more invasive.  While you might not be on the ALL-NATURAL bandwagon, it’s still a something to keep an eye on: the chemical infusion through American products is happening, and it’s nothing to ignore completely.

Either way, coupon food hording does not present a realistic-for-daily-use food horde.  In fact, those stock-piles rarely hold the keys to modern food-y survival, usually having products I would only use a couple times a month.

This is where we get to the point:

Stock Piling can be bad or good:
It can make sense, or little sense.

DIGGING DEEPER into GREAT SAVINGS is about catching momentary windfalls of great savings for things you absolutely know you’re going to use in the next year.

EXAMPLE:

OIL CHANGE SPECIALS – If you change your car’s oil, then you know that every once in a while auto part stores will have a 30% off “oil change special.”  If you know that your car will need 3 oil changes this year, and you are staring at great savings, then why not just buy 3 of them?

Great Savers can find it overwhelming to override the secure feeling of the original great deal, and spend 3 times as much, but saving $30 is like getting a free oil change that year.

Auto Insurance Early Payment discount: For some insurance companies, paying the six-month premium can lead to a full 1-month off discount

See a GREAT rack of clearance clothes out of season? A GREAT SAVER knows you should buy some of next winter’s clothes at the END of this winter, when everything is on clearance.  Shopping for clothes six months in advance leads to massive savings.

These three examples could save you $300+ a year, which is a really nice deposit into your investments!! Distilling these three examples leads to three principles that can save you enormous amounts of money… here’s the money:

$300 per year saved = $3,000 per decade = $9,000 over 30 years, invested at 6% Compound Interest all along = $25,140
then paying you 6% payout of $1,508 per year for 30 years to follow
giving you an additional $42,252
So the grand total of money saved with these practices could be
= $70,392

 

1. Take advantage of salesgauge the need, buy more than one. Don’t get crazy with it, just think ahead.

2. Take advantage of conditional discountsdon’t leave money on the table, especially when there is already an arrangement in place to help you save this money.

3. Shop against the grain of the average consumer for discounts – buying the newest/best is a bane to your savings account and will cost you hundreds of thousands of dollars over a lifetime, just so you can dress, feed, and equip the monkey bodies that we possess.

If we’re boneheaded with proactive savings leads to obtaining hordes of stuff we’ll never use, or signing commitments to contracts that initially felt good, but lock you in, and drain you for months or years to come.

This talk is not a motivation for Big Spenders to cut loose and spend like crazy if the deal is good enough.  Rather, it’s a talk about getting an Great Saver to occasionally let a little more cash flow in the name of saving more cash.

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