Are Sample Sales Really A Bargain?

Grocery cartsWhen retailers have excess merchandise, sample sales are often used to move the surplus and unload the extra supply. These sales are usually advertised as offering sharply discounted items, but are the deals really as good as they say? Sometimes the discounts are less than spectacular, but if you use the right shopping strategies, you may be able to score a terrific deal on some great stuff. Here are a few tips on shopping sample sales to help you get the best bargain.

1. Evaluate the discount carefully.
Sample sales, especially the ones on the web like Gilt.com or Ruelala.com, are notorious for offering unbeatable prices on high-end merchandise. While these aren’t necessarily bogus claims, shoppers should be aware that retailers sometimes try to move their excess merchandise at prices that, while low, may not be as good as they make them out to be. One way of determining if the deal is really a steal, is to figure out how much the item would normally go for and compare it to the offered discount. If the discounted price is no more than 50 percent of the suggested retail price, then you’re getting a good deal.

2. Know what constitutes a real sample.
True samples are usually prototypes from manufacturers or designers. They aren’t necessarily the same thing as surplus or overstock merchandise. If you’re buying a true sample, you stand a much better chance of getting a great deal.

3. Check for any imperfections.
This applies to sample sales you find in stores or warehouses. Many places will offer discounted items (particularly clothing items) that have slight or moderate imperfections. These items should be properly marked with an identifying tag that says something like “imperfect” or “defect” and notes the details of the imperfection. These imperfections could be superficial, like a seam that isn’t completely straight, but they could also involve something that could potentially affect the item’s functionality. If you find an imperfection that isn’t marked, don’t be shy about asking the merchant to give you a break on the price, but don’t be pushy about it either.

4. Sizes may not be accurate.
Garments that are true samples (see above) are often not true to size. This is because real samples have been tailored to a specific model’s sizes. The inseam may be a little long, the waist may be cut a little narrower or the neckline may be slightly deeper, and so on. Always try the sample on and if it needs altering, consider the cost of alterations into the price to see if the deal is really worth it.

5. Don’t be tempted by urges to “Buy NOW While Supplies Last!” online.
Web sales can’t rely on impulse buying the same way a physical store can. When shoppers are in the store, they can see the item in person, touch it and hold it in their hands. Researchers have claimed that the ability to see and pick up an item increases a shopper’s tendency to purchase that item. With web sales, advertisers have to be a little more strategic if they want shoppers to click the “add to cart” button. The most common way to do this is by getting you to sign up for email offers or exclusive discount mailing lists. Once you do that, your inbox may be bombarded by “limited time offers” and urges to buy quickly. Resist the temptation to buy right away, even if the items are going fast. Ask yourself if you really want the item and if the price is really that great.

6. Delaying gratification can save you more money.
While we’re on the subject of resisting the urge to buy right away, it should be noted that web sales are generally better the closer an item gets to being out of stock or the closer it gets to the end of a season. You can sometimes save an additional 10, 15 or even 20 percent if you shop during the sale’s final hours. Keep an eye out for keywords like “blowout,” “inventory clearance,” “year end sale” and “final sale.” This applies to just about any retail store, not just sample sales, so it’s worth noting.

Do you have any other tips for shopping sample sales? If so, what’s the best deal you’ve found? Let me know in the comments!

How Do Americans Spend Their Money?

coinsAs another tax season has come and gone, many Americans are already planning on how they’ll spend their hard-earned tax refunds. From planning family vacations to funding home improvement projects to paying off debt, there are numerous ways one could put their refund to good use. Just out of curiosity, I did a little research on just what the most common ways are for people to spend their tax refunds. Here’s what I found:

According to data from the National Retail Federation, the two most common ways for Americans to use their 2011 tax refunds were putting it into savings (42.1 percent) and using it to pay down debt (41.9 percent).

The third most common way for Americans to spend their tax refunds in 2011 was to use it for everyday expenses (28.7 percent). Following that, 13.2 percent of Americans used their refunds to pay for major purchases, 11.9 percent used it for vacations and 6.7 percent listed “other” for their choice.

Compared to the year prior, more people used their tax refunds to pay for everyday expenses – the share for that segment was 28.8 percent in 2010. The number for people choosing to save their refunds also increased from 40.3 percent in 2010. Less Americans are using their refunds to pay down debt. The figure was 43.9 percent in 2010.

On a related note, it has been estimated that the average American purchases nearly $2,600 worth of goods and services every month and the average tax refund amount in 2012 was $2,803 – down from 2011′s average of $2,913.

Want a few ideas on how to spend your tax refund? Here’s a look at some of the things Americans love to spend money on, according to info from the U.S. Bureau of Economic Analysis. Some of these figures might surprise you!

Average Monthly Spending for Americans:

$95.43 – Clothing and Footwear
$79.97 – Pharmaceutical and Other Medical Products
$137.63 – Groceries
$51.90 – Televisions
$23.44 – Gambling
$27.63 – Alcoholic Beverages for Home Consumption
$25.81 – Games, Toys and Hobbies
$94.45 – Recreation Services
$130.83 – Purchased Meals and Beverages
$450.16 – Household Utilities
$410.48 – Healthcare

Simple Ways to Lower Your Energy Bill

chartThe average monthly power bill for a household in the United States was $110.14 in 2011. When you multiply that by 12, you get $1,321.68 per year. That’s quite a bit of money when you think about it. With energy costs being what they are, it’s no wonder people are starting to get serious when it comes to conserving energy and reducing their power bill. But there are some surprisingly simple ways to cut back on your energy consumption without having to install solar panels or replace all your appliances. Here are a few ideas…

1. Install a programmable thermostat if you don’t already have one. If you have one, make sure you’re using it properly. Set it so it uses less energy during the time you’re not at home. For instance, if you leave your house at 7:30 am to go to work, and you won’t return until 5:00 pm, set your thermostat to use less heat/AC during those hours that you’re gone.

2. Use your television’s energy saver mode. Don’t know if your television has one? If it’s a modern television, it probably does. You may have to consult your manual or search through the on-screen menu to find it, but most of today’s sets have it. By setting it to energy saving mode, it will use less power to brighten the screen. You may notice that the color looks slightly different or the contrast is a little lower, but the picture should still be just as clear.

3. Use natural light whenever possible. If you’re home during the day, don’t use electric lights if at all possible. Open your blinds and windows and let the sunshine in. Natural light is great because it doesn’t cost anything to use, it helps make your home look more attractive, and some health experts say that sunlight actually can have emotional health benefits, even helping treat depression and anxiety.

4. Don’t run your dishwasher or clothes washer unless it’s full. Why waste the water and power to heat the water on a load that’s only half-full? Wait until you’ve got a complete load and you’ll be doing less work, using less energy and saving water – all at the same time!

5. Practice energy efficient computer use. The United States Department of Energy suggests turning off your monitor if you’re not going to use your PC for more than 20 minutes. They also suggest turning off both the CPU and monitor if you’re not going to use the system for more than 2 hours. You should also make sure your monitor, printer and other accessories are plugged into a power strip/surge protector. When these systems are not in use for long periods of time, turn the power strip off to prevent the electronics from drawing power even when they are turned off.

Got any other suggestions for saving on your power bill? Let me know in the comments!

Considering becoming a mystery shopper? Read this first.

young woman shoppingHave you heard of “mystery shopping?” It’s a service where companies hire qualified people to “shop” at a designated place and report back about their experience. Here’s how the Mystery Shopping Providers Association (MSPA) explains it:

“A mystery shopper is a person who visits an establishment (typically a retail store, bank, restaurant or other such places where the public does business) for the purpose of observing and measuring customer service, product quality and the environment of the establishment in general.”

It’s a great way for companies to learn more about their employees, products, and how consumers view them. But there are benefits for the “shoppers” as well. Mystery shopping can be a fun way to make extra money, and it’s great for people who aren’t satisfied with a “desk job,” but it may not be for everyone.

Despite what you may have read on the Internet, mystery shopping is not a “get rich quick” scheme. It actually involves a lot of attention and dedication to gathering data. The MSPA explains that, contrary to popular belief, mystery shoppers do not get paid to shop – they get paid to gather information. Another common misconception about mystery shopping is that you get a ton of free stuff. While you may sometimes get a free meal, discounted merchandise or other similar benefits, mystery shoppers generally get paid a fixed amount – usually between $8 and $20 for a typical shopping job, but these amounts can vary greatly.

“Mystery shoppers know, before deciding to request or accept an assignment, what they will be paid,” according to the MSPA website.

The MSPA warns interested applicants to beware of organizations that promise lots of freebies and too-good-to-be-true offers. Also, the MSPA says that you should be “extremely leery” of any organization that asks you to pay to become a shopper. This is a big red flag that signals a scam. This is not the same as being asked to purchase an item or pay for a service as part of the shopping assignment. In those instances, the shopper is usually reimbursed.

So how does one become a mystery shopper? Start with the MSPA. They have a lot of valuable information to educate shoppers on the business and you can even search for available shopping assignments through their site. Learn more here: http://www.mysteryshop.org/shopper

Free Ways to Celebrate Mother’s Day

granfather and grandkids in kitchenMoms are special, and they deserve a special day. Unfortunately, your wallet is empty and the special Mom in your life needs a special gift. You need to come up with a way to show her how great she is, but your lack of cash is making it difficult. Don’t worry! There are lots of great ways to celebrate Mother’s Day without putting a strain on your bank account. Here are some ideas…

1. Give Mom a day off. It won’t cost you a dime to take on the duties your mother usually handles. From cooking dinner to running errands to cleaning the house, tell Mom that today is her day and she is free to do whatever she wants – you’ve got the rest covered!

2. Take the kids to the park so Mom can get some alone time. If you’ve got little ones in the house, you’re probably aware of how hard it is to have a moment alone to yourself. Even if you just give her an hour or two, Mom will probably appreciate the gesture more than you know!

3. Breakfast in bed is always a favorite. Surprise her with her favorite breakfast and let her enjoy it in the comfort of her bed. Don’t forget to do the dishes when she’s done!

4. Go for a picnic. Spring is a great time of year to picnic in the park. Ask Mom what she’d like to eat and then make it yourself. Pack everything up and head to a nice neighborhood park. Don’t forget the camera for a few special snapshots.

5. Visit a free local attraction or go to a free community event. People always seem to forget that being a tourist in your own town can be a lot of fun. Investigate your area’s free attractions and see if there’s something that Mom would enjoy.

[Read more...]

3 Great Products That Help Save On Your Grocery Bill

Groceries in trunk of car.According to the U.S. Bureau of Labor and Statistics, in 2011, the average American family spent $6,458 on food. More than half of that amount went to food purchased from the grocery store. With food prices rising annually, it’s no wonder more people are trying to find creative ways to cut back on grocery store spending. In addition to clipping coupons and avoiding impulse buys, a great way to reduce your grocery bill is to invest in some money-saving products for your home. Here are three that I think might be worth considering:

1. A Food Saver
Food savers are great little machines that preserve your food by vacuum sealing it to keep it fresh longer. This is great for people who often have leftovers or like to buy in bulk. There are several models of food savers out there, ranging anywhere from around $50-$200. Here’s one I found on Walmart’s website for $139.93. It’s not the cheapest out there, but it’s not the most expensive, either. At the time of this writing, the product had 4.5 out of 5 stars review.

2. Window Sill Herb Garden
Fresh herbs are great for cooking, but can be very expensive in the stores. Why not grow your own? Not only will you save money, you’ll add a little green space to your kitchen! Take a look at this one I found on Amazon for only $16.37.

If you want to save even more money, then forget the kit and just make your own! Grab a few small clay pots from the dollar store, fill them with soil and plant some herb seeds. Herbs are notoriously easy to grow, so they require little attention.

3. Deep Freezer
If you’ve got the extra space, owning a deep freezer can be a great investment, as it allows you to store a lot of frozen food. By keeping a large stash of frozen meats, veggies and other food items, you can reduce or eliminate the amount of food you throw away due to it going bad. And even if you don’t have a lot of space to spare, you can find chest freezers that are suited for smaller areas. Here’s one from Home Depot that got fantastic reviews.

Do you have any tried-and-true products that have helped reduce your grocery spending? Feel free to share!

Turning your hobby into a source of income – is it worth it?

key on top of cashFor some people, a hobby is a relaxing escape. For others, it’s a fun way to spend their free time. Then there are those who have become so skilled in their favorite pastime that they decide to turn it into a source of income. From selling handmade items online to starting their own photography business to researching people’s family trees, there are numerous hobbies that can be lucrative. But to really keep up with a hobby often involves a lot of time, energy and money. So is turning a hobby into a business really worth it?

The answer depends on the hobbyist and his or her lifestyle. Things like work schedules, financial restraints and family obligations can often present challenges for a hobbyist when it comes to earning money for their goods or services. Before you decide to parlay your special skills into a source of income, ask yourself the following questions:

How much free time do you have and how much of it are you willing to sacrifice to your hobby?

If you work 40 hours a week, for example, your free time will probably be limited to nights and weekends. Would you be OK with devoting a portion of that time to your hobby for secondary income? Or would you rather reserve that precious free time for other things?

How elaborate is the hobby?

If you create custom, handmade quilts, for instance, you will probably need a lot more free time than if you did something simpler like knitting socks.

See related post, “Free or Cheap Ways to Feed Your Crafting Addiction.”

How do you intend to market yourself?

Will you create a website, give out business cards, start a blog, etc.? Or would you rather stay small and rely on word-of-mouth? On one hand, having a lower level of exposure can be beneficial for those just starting out, but on the other hand, without a broad customer base, you’re unlikely to make very much money.

Will you be able to keep up with your customers’ demand?

If you decide to turn your hobby into a source of income, be prepared to give your clients and customers what they want in a timely fashion. Since most hobbyists-turned-pro are sole-proprietors (meaning it’s only them and they do not have employees), they must provide the goods or services themselves. You most likely won’t have the option of hiring a production staff or employing a marketing assistant to help you brand yourself – at least not in the beginning. There are many success stories where people start out on their own but become so successful they are able to hire help, but this isn’t something you should count on when you first start out.

How much money are you willing to lose?

It’s a statistical probability that new businesses will lose money in their first year. You might be surprised just how much money is involved in starting your own business, even if it’s something as simple as screen printing T-shirts in your basement. From registering a business name to shipping costs to web site development and more, having your own business requires a fair amount of start-up costs. And that’s not even counting the money you’ll need to spend on materials! The truth is most people will not make enough money in the first year to earn a profit, so you’ll need to be comfortable with taking a loss. The good news is, you can usually claim this loss on your tax return.

And finally…

Would you still enjoy the hobby once it becomes an obligation?

Some people begin to lose the love of their hobby once it becomes something they “have” to do. After all, once your hobby is a business, you’ll have a lot more responsibility. A friend of mine who is really into jewelry making, decided to start selling some of her products on Etsy (an online store for hand-made and vintage items). She was fairly successful and sold a lot of her items, but after a while she began to lose interest. It wasn’t that she was losing money; she just wasn’t having fun with it anymore. So, she decided to close her Etsy store and focus on making jewelry purely for fun or for giving as gifts to people.

Are there any of you out there who have success stories (or horror stories) about turning a hobby into a business? Tell me about it in the comments!

Free or Cheap Ways to Feed Your Crafting Addiction

It can seem inexpensive to make things yourself but a leisurely trip to the craft or fabric store will reveal how pricey these hobbies can be! Thankfully, there are a number of ideas you can use to keep your crafting urges satisfied without having to spend a small fortune.

1. Repurpose material found around the house.

brightly colored pillowcases

Repurposing scrap material can help you save on your crafting costs.

You can find lots of good, quality material at a regular fabric shop or craft store, but if you’re trying to be thrifty, you can actually find a great supply of materials in your own home. Do you have some tablecloths, sheets or clothing that you’re not using anymore? Perhaps you could repurpose the material to create a special, one-of-a-kind blanket, quilt or pillowcase. Here’s one example I found online: A Repurposed T-shirt Quilt.

By the way, don’t limit yourself to only using fabrics for your thrifty crafting adventures. Think outside the box and try to find other materials or objects that could be put to a new use. Here are a few more ideas:

  • Do you collect matchbooks or those cardboard coasters found in bars/restaurants? Why not arrange them in a decorative frame and hang it up in your kitchen or game room, if you have one?
  • Have an old vintage picture frame that you’re not sure what to do with? If the glass is still intact, you can easily convert it to a serving tray or a vanity tray for your bathroom. Martha Stewart has a helpful video tutorial. If the glass is missing, cracked or just not in good shape, don’t worry! There are lots of cool things you can do with an old frame even if it doesn’t have the glass or backing. From a nifty jewelry organizer to a personalized wreath, the sky’s the limit when it comes to creative uses for picture frames.

2. Take advantage of free books, magazines or online resources.

Finding inspiration has never been easier with the widespread use of the Internet. You can find a ton of free tutorials and patterns online (Instructables.com is a favorite) and don’t forget about your local library! You can ask the librarian to help you locate books on just about any subject, from sewing to carpentry to paper crafts and more.

3. Organize a craft swap.

If you have friends, neighbors, co-workers or fellow church members that are as into crafting as you are, you should consider hosting a craft swap. Invite guests to bring some materials that they are willing to trade, be it yarn, paper, glue, paint, fabric or anything else related to crafting. This can be a really fun way to get ideas for projects as well as score some cool materials for practically nothing!

What are some other ideas for free or low cost ways to craft? I’d love to
hear from you!

Other Posts You Might Enjoy

How to Save Money on Your Media Addictions
How to Use Everyday Items as Art

A Few Free Ways to Enjoy Spring

little girl drawing with sidewalk chalkWith the weather getting warmer and the days getting longer, you might be feeling that urge to get out of the house and play! Even grown ups want to be out and about in the fresh Spring air, even if it means fighting a little pollen and hay fever. But for those of us who are trying to watch our pennies, the temptation to spend money when leaving the house is enough to keep us hunkered down indoors, even though we’d rather be out enjoying the sunshine. The good news is there are a number of free or low cost ways to enjoy springtime.

1. Go to the park.
Public parks are free to enter and are perfect locations for walking, jogging, picnicking and playing. Kids and adults alike can take advantage of this admission-free attraction, enjoying anything from a few games of Frisbee to snapping a few pretty spring-theme photos – after all, this is the perfect time of year to see robins, bluebirds, azaleas, daffodils and lots of other flora and fauna.

2. Check out free festivals.
A lot of cities host annual spring festivals that are free to attend. Here in Wilmington, we have the annual NC Azalea Festival, which draws thousands of people from all over the country. A wildly popular weekend extravaganza, The NC Azalea Festival involves several different events (some of which do require admission fees) from concerts to pageants to home and garden shows and more. The street fair is a free family-friendly event that has arts and craft vendors, food, music and more. Check out what’s happening in your city and you’ll most likely find one or two festivals nearby that offer free events.

3. Host a pot luck barbecue.
Spring is a great time to cook outdoors. The weather’s not too cold, not too hot and the mosquitoes and other pesky insects aren’t coming out in full force just yet (especially if you live in the South). Organize a family barbecue or invite some friends and neighbors. Make it a pot luck dinner, so that everyone can help pitch in on the expense. It’ll not only be a lot of fun, it’ll be a whole lot cheaper than dining out!

4. Start an outdoor exercise routine.
ladies joggingWhether you’ve got a bicycle you haven’t used in a while or you just want to rely on your own two feet, getting outside is a great way to get motivated to exercise. When you’re biking, skating, walking or jogging outdoors, there are fewer distractions and therefore a higher probability that you’ll do the exercise longer. Find out if your city has running/walking trails or simply refer back to #1 and head to your local park. Here in Wilmington, we have a beautiful Cross City Trail that is popular among walkers and joggers. It runs throughout the city, taking you past several scenic areas.

Related Topics

Save Money With A Kitchen Garden
Benefits of Hosting a Clothing Swap

Budgeting Tips for Recent College Grads

Woman driving car

Graduating from college is truly one of life’s milestones. It is just unfortunate that so many young adults take this big step into adulthood without a financial plan. All too often, young grads are caught up in their career path and anticipated new earning power. Typically, instead of figuring out a strategy for the future, they are considering how to spend those first few paychecks. Of course, they should be able to splurge a bit on a few indulgences; after all, they worked hard for their money and deserve a little bit of fun spending. However, this reward syndrome can easily get way out of control.

Learning how to manage their finances is something that young adults must put into practice. It will set them up for a more stable financial future and in these uncertain times that is essential. Considering that so many college grads begin the new chapter of their lives in debt is another reason that developing “financial smarts” is a necessity. A January 2013 report from Forbes.com revealed that the average graduate’s student loan debt was $27,253. That reflects a 58% increase from 2005, when it was $17,233. In light of the saying, “people don’t plan to fail – they fail to plan,” here are some budgeting tips for those new sheepskin recipients:

Establish a Budget
Review your entire situation and your goals for the future. That is, record your salary after taxes and deduct all of your fixed and unfixed expenses, such as rent, insurance, car payments, loan payments, gym memberships, and utilities. Don’t forget to include estimates for groceries, transportation, clothing, entertainment, charitable, and church donations. Finally, after you have an idea of what is left over, if you don’t already have one, open a savings account and start a retirement fund. Do not despair if you can only put a few dollars in each-something is always better than nothing and your salary stands to increase over the years. If you need help getting started, there are several excellent online sites such as budgettracker.com and budgetsimple.com. Just look around for one that appeals to you.

Pay Cash
College grads receive a barrage of “Pre-Approved” unsolicited credit cards in the mail. Don’t let this bombardment of free credit flatter you; relying on credit will put you in dire financial straits in no time. Especially avoid store credit cards. Never fall for the line, “Well, did you know you could save 20% on your total purchase today if you sign up for our store’s credit card?” The fine print on these plans usually uncovers a laundry list of stipulations and steep fees for not paying off the monthly balance in full. You’ve been warned – it’s just not worth it.

Purchase with Care
Before plunking down $125 for that cute purse or snazzy jacket, reflect on how many hours you’d have to put in at work to earn that money. Perhaps it’s not really worth all that, hm? Look for sales and don’t turn your nose up at buying items second hand. Whatever it is, never buy it unless you absolutely love it.

Learn to Cook
A 2012 article in the “Christian Science Monitor” noted the following:

“The average American spends $232 per month eating meals prepared outside the home. With 18.2 meals eaten outside the home in an average month, these meals outside the home costs a person $12.75.”

For many young adults, this figure may be even higher.

Planning menus, buying groceries, preparing your own meals, and brown bagging it for lunch can save the average American close to $3,000 a year! Bet you can think of better ways to spend three grand rather than on soggy fries and a greasy burger!

Learning to cook for yourself has never been easier, thanks to the popularity of TV cooking shows and instructional videos online. The library is another excellent resource and has so many helpful choices for beginning cooks to choose from, such as “The Cook’s Illustrated” series and the “5 Ingredients or Less” cookbooks.

Save on Entertainment
The cost of an average date night looks like this:

$20 – 2 movie tickets
$40 to $80 – dinner for 2-hope no one wants popcorn and a drink, because that will tack on another $20!

Learn to make savvy entertainment choices that will help you stay on your budget. Consider free activities, matinees, and discount coupons. How about a walk on the beach, DVD from the library, and a picnic in the park or home cooked meal? Aren’t the “best things in life” free anyway?

Perhaps the most important thing for new college graduates to realize is that their former academic advisers will not be replaced by a team of consultants ready to lead them into life in the “real world.” Getting on the road to financial freedom is 100% up to them!

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