Your Money_ The Missing Manual - J. D. Roth [49]
FatWallet (www.fatwallet.com) is one of the oldest, largest, and most-respected money-saving sites. It lists coupons and cash-back offers, and has a section highlighting top deals. But the best part is the discussion forum, where you can find out about the best bank accounts, travel deals, and more.
RetailMeNot (www.retailmenot.com) started as a database of online coupon codes for discounts at popular shopping websites. It now also includes printable coupons for supermarkets and other stores.
PriceProtectr (www.priceprotectr.com) lets you save money after you buy things. A lot of stores have price-protection policies—if they lower the price on an item you've bought, they'll refund the difference. The catch: You have to notice the price drop, and who has time for that? PriceProtectr does! Simply tell it you bought a new plasma TV from Target, for example, and the site will email you if the price falls.
Wishpot (www.wishpot.com) lets you save all the things you're shopping for online in a wish list or registry. This keeps you from buying impulsively and creates a place for your friends and family to go to see what sorts of gifts you might want.
The Tyranny of Stuff
There's one huge way to save money that few people talk about: Own less Stuff.
In his brilliant essay entitled "Stuff" (www.paulgraham.com/stuff.html), Paul Graham writes that before you buy anything, you should ask yourself, "Will this be something I use constantly?"
Graham used to pick up free Stuff from the side of the road. He'd buy something at a garage sale simply because he could get it for a tenth of what it cost new. Eventually he realized that nothing is a bargain if it just sits in the garage or a storage unit. Things only have value if you use them. (For info on the outrageous cost of storing Stuff, check out http://tinyurl.com/cost-of-stuff.)
On The Money: The Science of Shopping
If you want to spend less at the supermarket or shoe store, get a copy of Why We Buy: The Science of Shopping (Simon & Schuster, 2008) from your local library. In the book, Paco Underhill suggests ways to win the retail battle, including:
Spend less time in stores. Underhill writes, "The amount of time a shopper spends in a store (assuming he or she is shopping, not waiting in line) is perhaps the single most important factor in determining how much he or she will buy." The takeaway: Don't browse; shop with a purpose (Save While Shopping).
Only seek employee contact when you need help. There's a reason the employees are so eager to please at your favorite store: Interacting with staff makes people buy more. Underhill notes "the more shopper-employee contacts that take place, the greater the average sale." So steer clear of clerks unless you have a specific question.
Just say no to samples. Research shows that people are more likely to buy something if they sample it first. So don't try the samples at the giant warehouse store—they'll just tempt you to spend more.
Hands off. The more you interact with something, the more likely you are to buy it. According to Underhill, "Virtually all unplanned purchases—and many planned ones, too—come as a result of the shopper seeing, touching, smelling, or tasting something that promises pleasure, if not fulfillment." So when you're out shopping, keep your hands (and nose, and mouth) to yourself.
Have Mom do the shopping. 60–70% of supermarket purchases are unplanned, and men are bigger culprits than women. One study found that almost all women take shopping lists to the supermarket, but less than a quarter of men do.
For many compulsive spenders, Stuff is comforting. When these people buy things (even on credit), they feel wealthy. But in time, Stuff becomes clutter. One of the great things about setting goals and recognizing what gives meaning to your life is that it helps you differentiate the Stuff from what's important. For example, to you,