Last week's Two for Tuesdays showed you two tips to save money, the first being how to watch gas prices, the second being how to get a better deal on a group of services by buying a package.
This week, we're going to show you how to save a little bit of dough by bypassing the post office by using online bill pay and how to save potentially a lot of dough by buying groceries and other necessities at what I'll call "off brand" stores. More in a few minutes. On to #1.
I used to spend a considerable amount of money each year on postage. You know, 3 or 5 credit card bills, electricity, water & sewer, garbage, cable, phone. Now, it doesn't sound like a lot, but over time, it adds up. Plus, the real savings is in the productivity increase. You simply waste less time once you've automated your finances. Online bill paying is secure, safe, fast, and easy.
Most of us do our shopping at the supermarket. While convenient, supermarkets often have low markups on groceries but high markups on other products like personal grooming products (toothpaste, shampoo, lotions, and creams), pet and baby supplies, and paper (toilet paper, paper towels, and tissue).
Places like the Grocery Outlet, the 99 Cent Store, and Big Lots all offer name-brand products at bargain basement prices. Often, you are at the mercy of their buyers; last week you might have been able to get Colgate toothpaste at 99 cents, this week only Crest. So be it. None of that stuff really matters because it's all really the same. I know, some of you scoff at that notion; of course, brand X is better than brand Y. But just think of brand X and brand Y as non-generic versus generic. You know the generic is EXACTLY the same as the branded item. The only difference is the price, and that covers sellers' commissions, marketing, promotion, and kick backs.
We all know this. So, don't get bamboozled by thinking that you must buy your goods at a high-end supermarket. The products are the same at the outlet-type stores but the prices are far superior at the no-name establishments.
That concludes this week's Two for Tuesdays. Stay tuned for next week's edition.
Be sure to check out the development of my free eBook, "Stock Investing Basics."
Want to learn how to sell anything online? Here's how.