So it’s pretty much tax time around here as a lot of people are already trying to figure out how they will be submitting their taxes. Most people use some kind of tax software nowadays I’d say. One interesting observation I had was that some stores actually increased the price of the products because of the demand while others decreased it.

Basically there are two train of thoughts. The first one is since people are going to buy it you can make more profit in selling the items during these peak times. The second thought is that you want to attract the majority of the customers and therefore you make your price lower in an effort to do so. I personally think the best strategy is to go with the lower route.

Speaking from a consumer point of view, if I ever buy something because I need it and I know that the company sells it for more than it should be I would be apprehensive about buying from them in the future. As well, I think this is one of those situations where you should use it more as an opportunity to make some profit while attracting more people. If you are really good you will find ways to offer other products that this demographic would be interested in buying as well.

It’s better for the long term I think. The only time I can see that it is better to raise the price is if the item is extremely rare such as a collector’s item. But for general products and services it’s a good opportunity for everyone to remember your business.

Today I was shopping and my parents asked if I could buy them this particular bread for them since I was in the area. At first I went to one place and it was sold out. The price was about $ dollars for the loaf. I then went to another store within the same mall and they did have plenty of stock. Thing is the item was like $4 there which meant it was double the price.

Normally I would be inclined not to buy it and just wait. But since it was not for myself I bought it as it is one of those you need it now type of scenarios. Times like these it makes me inclined to avoid the store in question for particular items as you learn just how much expensive it can be to shop in the place. That’s usually why I always try to do my shopping in places that have some kind of price matching guarantee who aren’t too picky about smaller items.
If they are picky about items having to be in stock the good thing is that you usually have at least a 14 day grace period. So if the other store replenishes its stock you can easily get back the difference that way.

Many times, especially during this time of the week, whenever I see companies selling items that are clearly loss leaders or are close to the wholesale price I personally think of two things if I don’t need the item. Essentially, if I decided to get rid of it can I resell it myself for a profit and do I know anyone that would love this as a gift?

Interestingly enough I usually think more on whether or not I can give it away as a gift. This year I actually gave some people presents that I obtained from a sale the year before which was a great deal. It was still about 60% cheaper than the current market price and I knew that it wouldn’t get outdated quickly. Hence, it saved me a lot of money and time.

Some common items could be things like movies. Example, I know some people who are planning to buy a Blu-ray player next year once the price starts dropping a little more. As a result, there were a ton of sales over the week where I noticed there were popular/recent movies that ranged from $5 to $9 where I know the regular price is easily $25+.

Result, I know that I could easily get rid of it for say $15. But more than likely I can just give it away as a gift. So instead of paying like the $25+ for it on the occasion like a birthday I am all prepared and even save money this way. Of course, this does require some knowledge/expertise in a category to do so. Example, I wouldn’t know how good the value an item would be for say a leather purse and how often the price will drop.

I always pay my credit card bills in full and every December whenever I get my statement there is this offer from the credit card company. Essentially, the offer indicates that the company recognizes that this is the shopping season where people tend to spend more than usual. As a result, they offer people a lower than normal interest rate and a longer period for when they would expect to receive a payment from you.

It’s like they are encouraging you to not pay it on time too as they emphasize how this is a way to give you a peace of mind to not having to worry about your expenses for the month. Kind of reminds me of someone getting pressured to drink like a barrel of alcohol and saying not to worry as they don’t need to work next day. Guess like with that most people don’t think about the effects that will come next day or so.

The holidays are no reason to fall off the wagon when it comes to your money I’d say. It only makes sense to stay with the same principles throughout the year such as not buying what you can’t afford. I think it is more fun to have a more prosperous year overall then having a blast one week while having to spend a large part of the year making up for that period.

I was watching a news segment today that talked about shoppers that refuse to pay the full retail price on any product as the item has to either be on sale or that there is a coupon that can be used on it. They then showed how many of them had stacks of coupons as if it was a card collection of some sort. One thing I noticed is that everyone that was interviewed was a female.

Kind of interesting I thought as stereotypically I think most people would label guys as the ones who always want to save money when it comes to shopping. Usually when you read sites or watch segments like these though it’s usually a female crowd that has all the tips and sources on how to get bargains.

I guess for many guys using things like coupons in some ways lowers your status if you are trying to impress people on how much money you make. I’d like to think though where if that is truly the mentality then all you need to do is adjust your way of thinking and that you base your ego on how much is in the bank at the end of the day.

I personally use coupons when I see them available but never actually keep like a collection of them. I tend to get most of my discounts by understanding which products are like the loss leaders and such.