Oct 4, 2008 12:10 am US/Eastern
Money Saver: 5 Foolproof Shopping Tips
CBS 2 HD Teams Up With Smart Money Magazine To Give Consumers Ammunition Stores Don't Want You To Have
NEW YORK (CBS) ―
Before you get ready to shop, there are five secrets you should know that will help you gain the upper hand and save money.
What are they? CBS 2 HD's money saver report has the answers.
Sure, you could hit the sales rack or clip a coupon, but the big time bargain hunters know how to strike the best deal by beating retailers at their own game.
"One of the things that stores hate the most is a well informed consumer," Smart Money magazine's Kelli Grant said.
Grant said start shopping at home by researching online prices. Make the store match or beat the lowest price you can find, but don't fall for the next ploy.
"They want you to buy all the accessories and the extended warranty," Grant said.
Savvy shoppers will buy cables, batteries and extras online for deep discounts. And as for those warranties …
"When you're offered an extended warranty do you bite or say no thanks," Grant said.
She's right. Research shows most items break inside the manufacturers' warranty period. Use a credit card to pay for it and the card issuer frequently doubles that warranty.
And, as savvy shoppers CBS 2 HD spoke to said, always save the receipt.
"Always ... always hold on to your receipts and get your adjustments," said Ann Marks of West Islip.
"Stores allow if you bring in a receipt when the price has gone down -- usually it's 14 days to a month for some stores -- and they will give you a one-time price adjustment," Grant said.
And in the grocery store when you see all those ads offering multiple products for one low price?
"If you see a sign that's two for $5, that doesn't necessarily mean you have to buy two," Grant said.
You should only buy only as many as you need, and then save the rest of your money.
Here are five more tips the stores don't want you to know:
* Assess your motives. Do not go grocery shopping when you are hungry because you'll buy more. Don't go clothes shopping when you've just been paid because you're likely to splurge.
* Buy a cell phone, even used, online or from an independent seller. Then choose your plan so you don't have to get locked into a long contract, just to have a certain phone you want.
* Use cash. Besides being able to negotiate a lower price on some goods, you'll limit your shopping to only the cash in your wallet. Once it's empty, the shopping is over.
* Buy seasonal items on clearance. Stores are dramatically slashing prices, you get the benefit. This works very well for children's clothes. Buy next year's sizes at this season's cut-rate prices.
* Use websites to track 30-day price guarantees and collect on the sale price after you've already purchased your product. Stores hate to give you money, while you love to get the best price.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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