Do You Go The Extra Mile to Save Money?

[Jambalaya]

I'm talking about saving smallish amounts. For example, if you are spending $100 but can save 15% by signing up to a newsletter, and then the newsletter has a bunch of questions in the sign-up, do you do it? Or, if there are two similar jewelry items at two online places both for $800 and you save $40 by liking one of the company's Facebook pages, do you do that?

If you want to buy something now but it will be on sale in a week, and it doesn't cost you extra time or money to go back because you live near, do you wait an extra week to save $20?

I usually do go the extra mile to save money, even when it's small amounts. I think of how much I'll save over the rest of my lifespan because it must surely add up. But sometimes I wonder if other people don't bother saving $5 here or $20 there because it's just more convenient not to, and if I sound a little weird saying things like, "Target has them but if you get them at Costco after the 29th you can save $20." I wonder if people are thinking, "What he h*ll do I care about an extra $20? I'd pay $20 not to have to wait!"

So, what about you? Do you go the extra mile to save small-ish amounts of money?

 

[sonnyjane]

Little amounts not really. In some of your examples, sure I'll "like" a page to save $40 or sign up for an email list to save $15, but I dont do much beyond that. I just made a comment 5 minutes ago to DH because he bought a generic grocery item to save $1.00 but we both agree we don't like the generic version. For me, $1.00 isn't worth it to not even enjoy what I'm eating. Some people drive across town to save 20 cents per gallon on gas. Not worth the time for me for such a small savings as I only have an 11 gallon tank. Case by case basis I guess.

 

[Jambalaya]

Sonnyjane, I agree that the 20 cents on your gallon wouldn't make sense, and also you have to factor the time in to drive across town. I also agree that saving $1 for a generic food item that you don't enjoy eating isn't worth it. I do buy generic brands where I can't see a difference between the branded and the generic, but will happily pay for the branded item if it's worth the extra.

Another example is when I was buying some Kiki McDonough items from the UK. I saved $23 on shipping by finding a jeweler who stocks Kiki rather than ordering direct from the Kiki store. I had to wait ten days longer. And I always use my drugstore loyalty coupons on items that I'd have bought anyway without the coupons, like toothpaste, but I don't by something just because there's a coupon.

I definitely don't consider myself a cheapskate though - I do spend money, on clothes, jewelry, meals, generous gifts, charity donations and creature comforts for myself, and I replace items that are old or broken. I've known people who simply will not spend money on anything, ever, and I'm not like that. I just like to save a bit here and there where I can, because it must add up to thousands over many years.

Just idly wondering how much the same or different my habits are from others.

 

[stracci2000]

I try to save money when I can, but I won't drive across town to save on gas. I go to the gas stations that are convenient for me.
When I want something specific, like electronics, furniture or jewelry(!), I will research online till I'm blue in the face to get the best deal.
I shop at thrift stores alot, and I am not afraid to buy used items.

 

[ennui]

In general, no. I don't do Facebook. I don't clip coupons. I save by not buying things I don't need.

I do, however, pay attention to the price of gas, because the station nearest me is usually 50 cents higher than the station 1/4 mile over. That's silly, why is one station that much higher than another in the same zip code?

 

[LLJsmom]

Like ennui, I save by not buying anything I don't really want or need. I have to be brutally honest with myself before making a purchase bc I hate spending money on something I don't use regularly or something that I will look at and think "I wish I bought xxx instead." I almost always try to avoid buying anything bc it was a good deal, bc I wouldn't want it if it wasn't. However, if something I wanted just happened to be on sale, lucky me.

that is why I don't randomly go shopping. Unless there is something specific that I need and can't get off amazon, I won't bother. Won't tempt myself.

I seldom buy a cheaper substitute for anything. I always regret it or find that I am dissatisfied about something about it, even if it is really close to the original. All or nothing. Ends up being nothing.

 

[chrono]

Depends on how much the item costs and the savings, and also how much privacy I'm giving up. I hate to share too much information and detest being spammed with useless advertisements.

 

[arkieb1]

No probably not.....

 

[tyty333]

Depends on how much the item costs and the savings, and also how much privacy I'm giving up. I hate to share too much information and detest being spammed with useless advertisements.

Ditto...but usually I will go the extra mile if there are no strings attached.

 

[telephone89]

I'm lazy - so if its easy to save the money (liking a fb page, signing up for newsletter) then sure. If I have to go in store or do much more than that, I won't. If I KNOW something is going on sale (rarely) then I will wait. I've also been known to drive across the city to get the last of a particular item on sale - ie a dress that was 50% off, sold out online in my size and the only store that had it was a ~30-45m drive away. I could have not purchased it, but I had liked it when it was full price, so when I saw it was on for 50% off, it was a must have

 

[lambskin]

Depends. I will not give out my email to sign up for future deals as the spam is not worth it (Sports Authority emailed everyday with some 'deal'). I will try to cluster stores that have sales so I do not use extra gas to get one item. I have clipped coupons (never Groupon) and found that I use the shampoo coupons the most (two teen girls with waist long hair) while the others expire. Some generics are OK while others are awful. I hate customer surveys when you have to fill out long questionnaires and give out my email. I never enter drawings for a chance to win( fill in the blank) which require your info. I am cheap, stingy and frugal but if there is a good deal I will pounce.

 

[Jambalaya]

I think what posters have said here about just not going shopping, and also only buying things you really need, are fantastic ways to save money, especially the not-going-shopping idea. Life wouldn't be much fun if we only bought things we need, but I know what you mean - there is a lot of extraneous stuff we could do without. I bought these really cute on-sale designer sunglasses in May for $80 but didn't use them even once this summer because I have prescription sunglasses. I figured I need plain sunglasses to wear when I'm using my contact lenses, but in reality I just use my RX ones, so that was a total waste of $80. I really like the designer sunglasses, they're seriously cute, but I just don't use them. I try to feel better about the wasted $$ by reasoning that I'll use them in future.

I often see something so cute I just have to have it if I go to the stores. But having said that, there are plenty of other times I don't see anything I like. However I went shopping today and saw the most gorgeous hot pink emerald-cut tourmaline ring so I bought it because I really loved it, although it's set in silver so not too expensive. Still set me back well into three figures. I guess saving in other ways helps offset these pink-tourmaline moments! Shopping is very bad for the wallet but I do find wandering around and browsing to be very relaxing.

I have a separate email address for shopping so they can spam me all they like, and it doesn't clutter up my regular email. In Ralph Lauren I do their promotion where you get another 20% off if you send them a text, and now I get the occasional text from them. I've done that twice and probably saved about $50, so I don't mind the odd text.

 

[soocool]

To answer the question, yes I do. When I shop I always ask if they have any coupons I can use. I do not see the need to clip a coupon, because stores do not need them to make the sale. You would be surprised how many times the manager will approve a 20 to 25 % off when I ask. They would rather make a sale than none at all. I have done this at stores like Macy's, Express, etc.

I stock up on groceries when there is a sale. I will go back to a store if the item goes on sale within a certain amount of time always carrying my receipts with me.

 

[Jambalaya]

In general, no. I don't do Facebook. I don't clip coupons. I save by not buying things I don't need.

I do, however, pay attention to the price of gas, because the station nearest me is usually 50 cents higher than the station 1/4 mile over. That's silly, why is one station that much higher than another in the same zip code?

They probably charge higher just because they can. Probably they find that people just pay it, I'm guessing.

Something about your sentence (the phrase "That's silly" - this is exactly what I have thought re. the following) reminded me of certain jewelry companies that charge many, many times over any fair market value while not being a Van Cleef or a Harry Winston or a Graff. With those brands, you are buying some serious cachet, which matters to a lot of people, guaranteed best quality, service for life, etc etc. Those things don't matter so much to me but I know that with many people there is serious currency in brands like that. So although I wouldn't buy there even if I could afford it, I can at least see how they get away with their prices.

I always follow the European royal "laydeez" on the style blog, so the UK jewelry company Mappin and Webb has come to my attention. It's not a global brand - they don't even ship to the US and to hardly anywhere outside the UK. But Dutchess Kate has three of their items, and the prices are insane. She has some earrings from there in 18k white gold with a pave diamond weight well under a carat, just 0.88, and they are the equivalent of five and a half thousand dollars. And they don't even give the color or clarity of the pave. Earrings of that weight from Blue Nile cost approx $1300 - $2000, with more diamond detail, and the designs are every bit as nice - really beautiful, in fact. Another example is Kiki McDonough charging thousands upon thousands of dollars for semi-precious treated stones.

When five minutes of online research shows how out-of-line these prices are, I don't know how companies of that level stay in business, without the pulling power of the heavies like Harry W. I guess the answer is that there are enough folk out there with enough money not to care much about prices!

For interest, the overpriced (imo) Mappin Dutchess earrings: http://www.mappinandwebb.com/Empress-White-Gold-and-Diamond-Drop-Earrings/p/12151899/

I'm genuinely puzzled about how some companies can charge such prices. If I were starting a jewelry company, I'd assume no one would buy with those prices, Or, if I became CEO of somewhere like Mappin or Kiki, I'd be interested to know if I dropped the prices to sane levels, whether resulting volume of sales would outstrip the lower prices.

 

[Jambalaya]

To answer the question, yes I do. When I shop I always ask if they have any coupons I can use. I do not see the need to clip a coupon, because stores do not need them to make the sale. You would be surprised how many times the manager will approve a 20 to 25 % off when I ask. They would rather make a sale than none at all. I have done this at stores like Macy's, Express, etc.

I stock up on groceries when there is a sale. I will go back to a store if the item goes on sale within a certain amount of time always carrying my receipts with me.

You're an inspiration, soocool. I'm going to ask for more discounts.

I did this once, and it was very unlike me, because I don't like haggling. I was discussing the purchase of two Kiki McDonough items with a stockist that I'd chosen because their shipping rates were not insane like Kiki direct, and I asked them if they'd give me a discount if I bought both items at that time instead of one now and one down the road. To my surprise they agreed and I think I saved an extra $150 equivalent.

 

[ame]

Not really. I like a good deal on exactly what I want as much as the next person but I won't give up my privacy and waste time and effort that cost more in the end to get it.

I don't want junk email so I am hesitant to sign up for too many websites because once you are on them, you're NEVER off of them, unsubscribe or not. I don't want my name and credentials sold over and over like that.

I won't drive out of my way for gas because you lose the savings if you're burning the gas to get there and back.

I will look for the best price and coupon codes for the exact item I want, or a really quality similar item, but I'd rather get exactly what I want and not buy cheaper alternatives that leave me unsatisfied.

 

[Jambalaya]

Not really. I like a good deal on exactly what I want as much as the next person but I won't give up my privacy and waste time and effort that cost more in the end to get it.

I don't want junk email so I am hesitant to sign up for too many websites because once you are on them, you're NEVER off of them, unsubscribe or not. I don't want my name and credentials sold over and over like that.

I won't drive out of my way for gas because you lose the savings if you're burning the gas to get there and back.

I will look for the best price and coupon codes for the exact item I want, or a really quality similar item, but I'd rather get exactly what I want and not buy cheaper alternatives that leave me unsatisfied.

There's definitely something to be said for that.

 

[soocool]

Jambalaya, my DH loves haggling. He haggles the price of home heating oil every year. We do not do a prepay, but probably have the lowest cap price of anyone in our neighborhood. Companies want to keep you as a customer and do not want to lose you to the competition.

I have also haggled with banks for the best interest rates. Not to mention the names, but one bank stated a great rate for a money market account if you opened a checking account. I had no need for a checking account and while they did not want to, they gave me the money market account at the high interest rate without the checking account. Bottom line, they want your money and your business.

 

[kenny]

Yes.
A lifetime of being an extreme penny-pincher on day to day things has put me in a position to splurge on a couple nice luxuries.

 

[Jambalaya]

I estimate I save about $600 per year by "going the extra mile." Sometimes it could be more, when I turn myself inside out to save three figures on a jewelry item from an obscure foreign stockist that doesn't charge tax or crazy shipping, etc. I think $600 is a conservative estimate, but I'll say $600.

In addition to that, I know for sure that I save $1000 per year by driving 1 hour further to the cheap supermarket instead of the expensive local one. I only do that about 2-3 times per year and stock up on all the cleaning stuff and other household goods, and commodities like sugar, tea, etc. which can be half the price of buying locally.

If I live for another 40 years, 1600 x 40 = 64,000 saved.

Hey, $64000 is about the cost of my dream BGD diamond! Finally, I might have found a justification for buying it!

(Not really. I can't afford that, in case anyone thought I might be serious!)

 

[Jambalaya]

Yes.
A lifetime of being an extreme penny-pincher on day to day things has put me in a position to splurge on a couple nice luxuries.

That's so cool, Kenny. Good for you! What nice luxuries did you buy?

 

[Jambalaya]

Jambalaya, my DH loves haggling. He haggles the price of home heating oil every year. We do not do a prepay, but probably have the lowest cap price of anyone in our neighborhood. Companies want to keep you as a customer and do not want to lose you to the competition.

I have also haggled with banks for the best interest rates. Not to mention the names, but one bank stated a great rate for a money market account if you opened a checking account. I had no need for a checking account and while they did not want to, they gave me the money market account at the high interest rate without the checking account. Bottom line, they want your money and your business.

You're obviously very experienced at saving money, soocool! I would never have thought you could get discounts on heating oil and interest rates. You are my Money Goddess!

 

[soocool]

Jambalaya, my DH loves haggling. He haggles the price of home heating oil every year. We do not do a prepay, but probably have the lowest cap price of anyone in our neighborhood. Companies want to keep you as a customer and do not want to lose you to the competition.

I have also haggled with banks for the best interest rates. Not to mention the names, but one bank stated a great rate for a money market account if you opened a checking account. I had no need for a checking account and while they did not want to, they gave me the money market account at the high interest rate without the checking account. Bottom line, they want your money and your business.

You're obviously very experienced at saving money, soocool! I would never have thought you could get discounts on heating oil and interest rates. You are my Money Goddess!

My father made furniture, usually custom pieces. No one ever haggled with him over pricing, but he would always haggle with his customers for things in return. If he made a chair for someone, he would always offer for them to bring it in if it needed to be fixed and he would get stuff in return. He never paid to get his taxes done - one of his customers was an accountant and do it for free. He built a beautiful dining set for someone who was in the tile business and paid just for material when my parents tiled their kitchen and bathrooms, etc. I think I learned from the best.

 

[kenny]

Yes.
A lifetime of being an extreme penny-pincher on day to day things has put me in a position to splurge on a couple nice luxuries.

That's so cool, Kenny. Good for you! What nice luxuries did you buy?

Thanks, since you asked:
Pro camera gear, diamonds, pianos, guitars, Harald Schneider 10x loupe, the finest brushes for painting watercolor, a house in a nice Southern California beach city with some of the best weather on the planet.

None of this would have been possible if I was loose with money for day to day stuff.
I'm actually a miser, therefore I'm kind of a split-personality financially.

 

[iLander]

Yes.
A lifetime of being an extreme penny-pincher on day to day things has put me in a position to splurge on a couple nice luxuries.

That's so cool, Kenny. Good for you! What nice luxuries did you buy?

He bought 87,000 fancy colored diamonds!

Whip out the pix, Kenny!

 

[kenny]

87,000?

I wish.

 

[Jambalaya]

Your dad was a genius, soocool! He must have saved a ton doing things like that. I guess part of it is having the balls to ask in the first place!

 

[iLander]

I believe DH has, over the years, saved us close to $100,000 by being handy. Installing wood floors, cabinets, tiling, painting, plastering, putting up drywall, building out rooms, etc.

He's my hero.

 

[Jambalaya]

Yes.
A lifetime of being an extreme penny-pincher on day to day things has put me in a position to splurge on a couple nice luxuries.

That's so cool, Kenny. Good for you! What nice luxuries did you buy?

Thanks, since you asked:
Pro camera gear, diamonds, pianos, guitars, Harald Schneider 10x loupe, the finest brushes for painting watercolor, a house in a nice Southern California beach city with some of the best weather on the planet.

None of this would have been possible if I was loose with money for day to day stuff.
I'm actually a miser, therefore I'm kind of a split-personality financially.

Nice. I guess that's why I go the extra mile too - not that my savings are high like yours, because I don't think I'm quite as committed as you in the everyday, but I'm convinced I end up with more sparklies than I would otherwise.

 

[Jambalaya]

I believe DH has, over the years, saved us close to $100,000 by being handy. Installing wood floors, cabinets, tiling, painting, plastering, putting up drywall, building out rooms, etc.

He's my hero.

One hundred thousand dollars? Whoa. Nice work! I'm gonna ring the local construction company and ask who's single, hahaa!

My dad did all the maintenance on our home and cars when growing up, and never paid anyone to paint the inside or anything, and repaired any broken posssesions, too. Very handy. He must have saved him and my mom a lot over the decades, but I've no idea how much.