Tuesday, July 7, 2009

Comparison Shopping

Hi everyone! Sorry I haven't posted in awhile - I've been really tied up lately. Though, I wanted to make a quick post here regarding comparison shopping.

It's very important to shop around and do some comparison shopping for things you buy - over time it does add up. Remember, you're not being cheap - you're being frugal. There is a difference. And, why should you pay more for the exact same thing?

By learning to bargain hunt and by becoming a more informed shopper, you will save a lot of money over time. And, the money saved can quickly add up and be used towards other things for your business and/or your personal life.

So, let me give you an example of one of my most recent comparison shopping experiences.

For instance, take this simple bath mat I bought for one of the trailers recently.

As you can see from the pic, this cost $4 - I purchased it locally from the Family Dollar Store. Before making my purchase, I did some research and visited a couple places for similar bath mats. Wal-Mart came at $5.96 - it came close. By purchasing the bath mat at the Family Dollar Store, I saved almost $2.

Now, I know saving $2 may seem very mundane and not that big of a deal. But, imagine if I had to purchase 20, 30, 40, or even 50 bath mats? As you can tell, the costs add up.

When running a business and even personally, I think it's very important to have a frugal mindset. So much money is wasted everyday - most people don't even realize it. By learning to become more frugal, it forces you to be more resourceful and in turn save your hard earned money for other things.

(If you're interested in reading more about having a frugal mindset, I highly recommend this book. It really opened up my eyes and reiterated some things for me).

Happy Investing!

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