Prices of some items shoot up at certain times of the year and drop afterwards. Some frugal shoppers who know the cost of some of these items when they are on sale will never buy the product at a higher price because they know eventually the prices will drop and they can then at that time buy the item if they still need it. Do any of you set a buy price for almost everything you buy? It could save you some money . . .
I don't actually do that, because I tend to buy something when I want it, especially food, so I'm stuck with how much that item costs to begin with. When it comes to electronic items, clothes, shoes, etc. then of course I wait for the price to drop before I buy it. I anticipate sales, etc.
I always try to make the most of buying when there's sales on and not buying if there's not a sale. I think that's the best way to make your money go further. I do this with small items and larger ones because every penny counts and I hate to end up missing out on a good deal if it's on something I'll buy at some point anyway. The only thing I won't buy in bulk on is perishable food goods. Those I have to buy when I need them.
I see myself as somewhat knowledgable in knowing the standard prices but I know that I tend to go extreme sometimes and consider something to be way cheaper than its original value so I try to be more objective and just do my research if I can. As a measure though I think I just rely on my budget a lot more. If I can afford it then that's where I'll start and if I feel I need to do research on it then I will. Mostly I just tend to keep track of items I like or plan on getting in the future because I tend to window shop a lot for those so I get to track the price fluctuations and the small difference in prices between different brands.
This has to be me. I always research first before buying a product. And if I know that the price is going down, then I won't buy it just yet and wait for the price to drop. This is usually the case with the iPhone models. the first time it's launched, the price is too steep. But wait a few months later, especially when a newer model is coming out, and the price would drop suddenly. I love waiting for moments like this. The same goes for clothes. I'm not much of person who is into trends. But at the end of the year, shops go for clearance sales. That's when I try to get clothes that I like. I look for styles that are classic though, not trendy. Usually, I get jeans, shirts and dresses, which never really get out of style. The same goes for makeup or cosmetic items. Usually, when a product is first launched, it's expensive. But as time passes by, it will lower in price simply because newer items are being released as well. So that's when I try to snatch the lipstick or foundation that I liked.
Except when we are on a tour in other countries, any items should have a tag price in my mind. For unfamiliar items like an e-bike that is now getting popular, I try to check the prices so I would have an idea. Who knows if we would buy an e-bike, right? Now we are planning to buy a laptop so we have a list of the prices and specs of the laptops in the market. We are just awaiting for the summer promo that would hit the market very soon - mostly zero interest on 2-year installments plus freebies.
Yes I set a buy price and try to strictlu follow the price I have set. For example, when I set $100 for a phone, I will try to buy a phone that costs below $100. If the phone I liked is $90, I make a saving of $10 which I drop on my income list. I work on this way for every thing from grocery to electronic items, furniture even property.
