15 Golden Rules for Saving Your Money on Every Purchase

Wouldn’t it be nice to spend a little less in 2018? Fortunately, it might be a lot easier than you think to keep a little more green in your wallet.

In fact, there are a number of tried and true ways to save money on virtually everything you buy. We call them our 15 golden rules to super savings.

1. Never buy new what you can buy used

To save money on everything you buy, never buy new. Well, nearly never buy new. You might possibly want to buy new underwear from time to time.

But for most everything else, let someone else take the depreciation hit. The average new car loses 11 percent of its value the moment it’s driven off the lot, according to insurance site TrustedChoice.com. After five years, new vehicles typically lose about 63 percent of their value.

Cars might be the best-known example, but virtually everything depreciates over time. Jewelry, furniture, appliances and even video games and movies can depreciate faster than you can say “impulse buy.” Check out Craigslist, and eBay for practically new items being sold for a song.

2. Save big with bulk purchases

Let’s say you use a lot of batteries. Why buy a package of four batteries when you could buy 20? Buying in bulk can be an excellent way to lower your per-unit cost. Check out Amazon prices on Duracell AA batteries as an example. As of this writing, you can buy 20 for less than $20 and 48 for less than $30.

Also, if you are buying perishables in bulk, make sure you can use them all before they go bad. Better yet, bring a friend or relative and split the purchase — and the savings.

3. Tame impulse buys with a list

It’s hard to put a number on how much impulse buying costs us each year, but 84 percent of us confess to making a purchase on the fly, according to a 2016 CreditCards.com survey.

Tame the tendency to buy on impulse by limiting yourself to what’s on your shopping list. Also, create an ongoing list of planned purchases. When you notice your shoes are wearing thin, add shoes to the list. When you decide you need a bigger slow cooker, add that to the list.

When you are tempted to buy something on the spur of the moment, refer to your list. If the item is not there, remind yourself that you don’t need it.

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