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Buying Luxury Items without Paying Luxury Prices
The MMI Online Articles are designed to inform, assist, educate and alert consumers.
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Even when you’re on a budget, it’s nice to indulge yourself now and then. Just remember that you don’t have to be financially irresponsible when making a luxury purchase.
Finding bargains on high-ticket purchases means you have to pay close attention to inventories at all the right stores and be patient enough to wait until the price has come down. And one great way to accomplish this is to really get to know the shops in your area and the people who work there.
Visit a new store as soon as possible after it opens and get to know the owner. Early customers will be remembered and appreciated, so any leeway the owner has as far as bargains are concerned will more likely be exercised to your benefit. Also, new stores tend to have more competitive prices because they’re trying to generate business quickly.
One of the areas where people like to splurge most often is on clothing. Finding a bargain on expensive clothes is where it really pays to be patient. Most clothing shops typically display their newest product lines in premium locations and mark them at premium prices. If you see a new outfit on the rack that’s a little out of your price range, try going back in a few weeks—chances are it will be marked down.
For really high-ticket items, such as evening gowns, you have a couple of options. First, if it’s something you’ll probably wear only once, find a good rental shop – you’ll pay a fraction of the cost to buy it. If it’s something you want to own, check out a re-sale shop. These items, even when pre-owned, haven’t been worn extensively, so you get almost all the value for half the price or less.
For non-clothing luxuries, such as appliances, furniture, and electronic goods, many of the same rules apply. For example, getting to know the shops and the owners is a good idea. And patience will help if you wait for items to be marked down after their initial pricing.
You can also save a little by offering to pay cash in exchange for a small discount. Because credit card companies charge the merchant up to four percent on the purchase price to accept their card, the store manager will sometimes accept such an offer. Also, ask for a discount on the display model, especially if you find out that the item on the floor is the last one they have in their inventory. And if you bring a truck or van, and offer to cart the merchandise away immediately, the store saves money on delivery and may be swayed to cut the price down a little.
The most important thing to remember is to be a smart consumer by comparing prices before buying. This is important no matter what you’re purchasing because, in the long run, you’ll save a lot of money. And with high-ticket items, the savings are even that much higher
Finally, when adjusting your spending plan to accommodate your fitness program, don’t forget to budget for shoes, clothing, training classes and equipment. Making these expenses part of your everyday budget can help remove financial stress as an obstacle to your personal improvement goal.
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