Profit Last: How to Shop, Profit at Same Time

How much do you like to shop?

The answer, inevitably, is “yes,” and with good reason.

But can you really shop and save at the same time.

Again, why can’t the answer be a resounding “yes.” The fact is this can exist and does actually but beyond what you’d believe to be the obvious.

Sure, coupons, online codes and other perks certainly help, but a lot of what makes shopping smarter and more rooted in saving money on wants and needs starts with timing, too (among other things you’ll read).

Shopping is one of the acts that individuals draw pleasure from, more so than you might assume, even though studies show spending isn’t tops on the list of priorities.

Most Americans, 59 percent to be exact, say they prefer saving money over spending it, but a closer look shows that about 36 percent of those individuals state they have spent less recently but 30 percent have spent more.^[1]

You can see the dilemma here, right?

We know saving is important, but are we actually following it.

That 30 percent is a big number of the masses who are spending more recently.

That would suggest that spending might be more wildly popular than initially believed.

Need more proof that spending is on the rise, just check out the average amount a person or family has in their savings account, that money stored away for the proverbial rainy day. Nearly 40 percent (approximately 39) have not one dollar put away in a savings account, while 18 percent have less than $1,000.^[2]

Even though 59 percent say they “prefer” saving money doesn’t mean they actually are doing it, and they certainly are inclined to spend money, based on how little they have saved.

This is where the spending bug comes into play, whether it’s clothes, shoes, food or even things you’d consider “wants” versus needs, but yet still feel as though they’re items or services you enjoy. Also, you have to deduce that convenience and how products and services play into our money trends.

Wouldn’t it be easier to hire someone to clean the house rather than you do it? Of course, but at what cost.

A recent study of 6,000, all of whom were given $40 to spend in two weeks (the second week they had to spend it on a convenience), and much to no one’s surprise they were happier as a result.^[3]

Can you really have it all? Can you spend and save, yet still manage to have that nest egg and feel financially at ease? Of course, but that only works if you’re someone who knows how to spend expertly and do so with the following tips in mind.

Seasonal reason: Buy during offseason on just about everything

Seasonal shopping is an approach used by the pros, who know exactly how to pounce based on buying during a particular time of year.

Let’s keep in mind the cost of clothing isn’t anything to ignore. The average person spends $161 per month on clothing, and that varies depending on age. That $161 is for ages 25-34, but if you’re in the 35 to 44, you’re well over $200 (209).^[4]

This allows you to save quite a bit of money but minus skimping on the quality or quantity. If anything, seasonable buying boasts deals, discounts and other promotions that would actually allow you to buy more and spend less.

Consider clothing as an example.

It’s best to follow the six to eight week rule of thumb. Retailers often get new merchandise in and wait that time period, give or take, before they start discounting clothing.^[5]

That would suggest the best time to buy a new shirt, skirt or dress is two months after it’s hit the shelves, and while that patience is hard to imagine, you’ll be rewarded with savings for your patience.

Buying winter clothing in February makes the most sense, and with it the most potential to save money. The same can be said for summer clothes, with a target date for purchase around August or September. At this point, more seasonal clothing, such as spring attire hitting the shelves in February or Fall clothing arriving around Labor Day pushes the out of season apparel to discounts of epic proportions.

Outwear, for example, in February is going to be in the neighborhood of 50 percent off, but in most cases could reach as high as 80 percent.^[6]

Another reason why seasonal shopping in the offseason is better.

Holiday decorations are 50 percent off after the holidays.^[7]

And of course that makes little sense practically, but consider if you’re in need of decorations overhaul, why not spend half and start next Christmas off saving money by already getting what you need. So what if you have to hold on to it for another 12 months until it can be used?

Promotional Coding: Take advantage of online deals, coupons

Before we dive into the wonderful world of online coupons, let’s take a look at our coupon throwbacks, which seem antiquated at times but also shouldn’t be overlooked as a means to save money.

The average coupon savings if you opt to break out the scissors and start cutting away is $30 per week, and while that sum seems inconsequential that adds up to $1560 per year, which could easily be sitting in your bank account.^[8]

Whether the coupons are for food, clothing or even dining out, you can’t afford not to use them or at least tailor you activities and what you buy to keep those savings in mind.

Online coupon codes have seen a surge in popularity in recent years as the consumer has gone digital and has ditched the paper coupons (even though that seems like bad advice given the aforementioned yearly discounts that still abound.

Among the top online coupon code retailers who offer these sorts of discounts, you can save as much as 38 percent more by using them.^[9]

If you’re someone who spends $200 a month on shopping, take 40 percent off that total and you’ll save about $80 on the products and services you want and need to buy, and put a little more money back into your pocket.

To dig into online coupon codes a little deeper, don’t forget that these can be “stacked” on some sites, meaning you can use more than one at a time. Although this practice isn’t typical, you might want to use this as a gauge or ultimately a deciding factor as far as where you shop. And if you think stacking discounts is only for mom and pop or second or third tier sites, think again. Stores like Old Navy and Kohl’s are among many high-profile, “A-list” sites that allow this.

Kohl’s is one that stands out with 15 percent off an order of any amount and an extra five percent off that total if you spend $100.^[10]

Noting stores like this and using promotional codes for the sites in particular help you get what you already would be buying but at a lower cost and with saving money at the forefront.

While it’s easy to find stores like Kohl’s and Old Navy, among others, you also want to take note of smaller online gems.

Snapfish comes to mind instantly. Immediately, when you hit their web page, you see deals of 70 percent off prints, with a coupon code, 50 percent off gifts and other deals of that ilk.^[11]

This site embraces the online coupon codes to a high degree, offering personalized photo books, home decor and anything to make that special occasion that much more memorable.

Line of Site: Take advantage of cash back, discount-driven sites

Sites like Groupon and ebates gain plenty of mainstream publicity due to a national marketing campaign that centers on saving money through their sites, specifically.

You can use Groupon to get discounts on anything from tonight’s dinner spot to bowling trips and hitting the links or grabbing some quality family time at the ice skating rink or treating yourself to a massage at a better rate.

ebates isn’t quite the same, but in a similar vein; it’s a cash-back site that works to give you money in return for buying what you would normally want or need from national retailers like Macy’s, Amazon, Wal-Mart and other high-profile sites.

The business plan put forth by ebates is hard to argue given that if you’re already going to buy from those places, why not use ebates as the proverbial “middle man” to get money back on cash you already were going to spend anyway.

In fact, one example and subsequent testimonial suggested that 90 percent of what was spent through ebates were items that already were going to be purchased to begin with. This was $6,000 worth of products purchased and $400 in your pocket.^[12] If you’re spending it on what you need, why not earn more as a result, minus the idea of using a credit card for cash back, just in the event you can’t pay it back from one month to the next.

Good points from both Groupon and ebates, but as much as you want to focus on those two, and with good reason, you can’t overlook other discounts sites that might actually go above and beyond, particularly when you compare them to Groupon.

Consider that Groupon has 83 million subscribers, but only about 16 million have actually purchased something.^[13]

This might suggest better sites exist, or at least ones that are more concentrated based on your area, wants, needs, etc.

Groupon is very broad, so you might want to think about a more specific approach to what you want. If fine dining is in the cards for a special day, anniversary or Valentine’s Day, try Savored as an example. They’ll give you 30 percent off your bill, and the site has managed to recruit some really quality restaurants, too.^[14]

Being able to shop and save in the same breath is exactly what the retail doctor ordered; not only are the stores happy but you get exactly what you want, but for a price that works and other extras you certainly aren’t going to turn down.

These suggestions aren’t a full-scale, all-out reason to start spending, either.

They’re merely a better way to build a financial portfolio that includes saving money but also not passing up on what you need, what you enjoy, conveniences and such that make life easier and you happier and more pleasant.

Some of it is going to be hard decisions, as well. Cutting the cord on your cable, losing that bloated cell phone plan and others of that ilk are going to go a long way toward padding your wallet and giving you money that can be used in a better way, but doing so is going to open up the possibility of being able to save more and won’t let shopping (and saving) feel like it’s something you shouldn’t be doing.

This can be accomplished and that love of shopping and spending can be quelled by participating in that act (sounds like an oxymoron, right?) if done with precision and prudent decision making not so much on what you buy but how, when and ultimately where.

From online retailers to promotional codes, you can’t help but be engaged in the act of buying but also that inevitable, undeniable rush you get when you can get what you want at a price that is more reasonable, feasible and still rooted in the fun that is shopping and spending money.

Wisely, of course.

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