How Spending Money Can Actually Save You Money
October 4, 2007
I’m not one for spending money. It’s actually one of my least favorite things to do. However, there is something to be said for preemptive spending that can help save you time and money.
The story begins like this. I arrived home late yesterday evening after a long, horrible day at work to discover the router in our small home network was kaput. This is a huge problem for me since I spend many hours a night working online so I needed to get up and running as soon as possible.
The Unprepared Scenario
The plot of the story could have been a stressed-out, frustrated guy racing around an electronics store before it closed looking for a good deal or maybe spending the next day at work shopping online and placing a rush order on a router.
When you need something in a hurry the objective shopping and price comparison process can go out the window. You’ll likely spend more than you want in order to buy something you’re not quite sure is what you’re looking for. Top it off with expedited delivery if you’re shopping online and the costs of a crisis can really add up.
The Strategic Shopper Scenario
Luckily for me, I had done some preemptive shopping so the story has a happy ending. Don’t get me wrong, I didn’t make a specific trip looking to buy something, shopping trips aren’t usually my style. I happened upon a great deal for a Belkin wireless router when a local store went out of business and I snatched it up to store for future use.
Upon diagnosis of a dead router, I made a trip to the storage room and had the new router up and running in 15 minutes. Since I wasn’t scrambling around in crisis mode I didn’t have to spend a premium to get new equipment quickly, even better, I bought it ahead of time for a big discount! Plus it allowed me to barely miss a beat in my work, which is worth some money itself.
Strategic Shopping Questions
Of course you don’t want to overdo it and spend too much on strategic shopping. The key is whether an item will save you time and money down the road. Here are some questions you can ask when considering making a strategic purchase:
– Will the item need to be replaced or upgraded in the future? If so, you’ll have to buy it eventually, why not buy it now for a good deal?
– Will your purchase hold its value? How long can you keep the item in your storage area without it becoming outdated and unusable?
– Is it a large enough discount to make it worth your while? The percentage or total dollar amount of savings is up to you.
– Can you store it easily? Where will you keep the item for an extended period once you bring it home?
All posts by Ben Edwards