August 30, 2007
5 Reasons You're Paying too Much for Luxury Items
We all like a little luxury in our lives. It's okay to pamper yourself, even if you don't have the biggest paycheck on the block, but there's no reason to pay outrageous prices and rack up credit card debt, especially not when there are ways to get luxury items more cheaply.
Here's a list of 5 reasons you're paying too much for luxury items:
- You're not shopping at outlet malls. Yeah, yeah, they're always out of the way, but save up your shopping until you can do a bunch at once and make a day trip out of a run to the outlet mall. You can find luxury items, everything from tableware to purses, at 40-70% off retail prices. Also, since true outlets get their merchandise directly from the manufacturers that supply the goods, outlet stores often have a better inventory in that brand than retail stores.
- You're not doing your research before you go shopping. Did you know that retail jewelers mark up their goods as much as 150%? If you can tell a jeweler exactly what you're looking for (i.e. cut, carat, rating), the jeweler will know you're a serious customer who has done some research (and knows what's a good deal) and will probably buy as soon as he can show you the right ring. Many jewelers are willing to cut their profits way down for an easy sale on their part.
- You're putting your luxury purchases on high interest credit cards! Think those snazzy new stainless steel kitchen appliances were expensive to start with? By the time you're done paying them off, you might have paid two or three times the sticker price, all in interest. It's better to save up to purchase luxury items, but if you must finance, make sure the interest rate is low (watch out for 6 or 12 month no-interest gigs, because you'll still be charged handsomely if you don't pay the item off before the no-interest period runs out).
- You're buying in the wrong season. You may think about buying a fur coat in the winter, but the best time to buy furs is when nobody is thinking about them. Think summer. The slowest time of year for furriers is late July through August, and you can get luxury goods for half the regular price (up to 70% off if you buy last year's items). This isn't just for furs but for virtually all items that have seasonal use. Always buy off-season for the best deals.
- You're not hitting the pawn shops. While pawn shops once had a reputation for fencing stolen goods, heavy regulation has stepped in, and most of today's dealers won't handle merchandise they suspect might be stolen. You can find everything from diamonds to antiques to valuable collectibles at great discounts in pawn shops.
Source: Cut Your Spending in Half: Without Settling for Less : How to Pay the Lowest Price for Everything
Posted by Home Improvement Ideas at August 30, 2007 8:01 AM
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