You’ve heard the sayings again and again: patience is a virtue; good things come to those who wait. If you tend to get inpatient when it comes to certain things, consider the benefits of waiting, including the financial advantages. Some of the following are ways that being patient can help you save money:
There’s an expensive product you just have to have—even though you know in a few weeks or months it’ll go on sale and drop in price considerably. Unless it’s something you know for a fact won’t go on sale for a very long time, or the store will refund you the difference when the item does get marked down, consider the benefits of waiting. For example, if you’re just a month or two away from Black Friday—try to hold out. By being patient, you can save big bucks.
Consider the date
Is your birthday coming up, or a major gift-giving holiday around the corner? If so, you might just get it as a gift. If you’re unsure, don’t be afraid to drop some major hints to loved ones. It may take a lot of patience in order to wait for that date, especially if it’s a while away—but it saves you a purchase, and you could get a gift you actually want and won’t end up returning.
You’ve just been introduced to a new item or product—even if it’s something that’s been on the market for a while—and you just have to have it. Maybe you discover it in-store and you’re ready to make a purchase, right there and then. But by purchasing something expensive without researching it first, you could be overpaying. It may require some patience, but take the time to research the product and compare prices from other retailers. You might find it cheaper elsewhere, or if it’s something you can purchase used, you can save big bucks. It will also give you a chance to read reviews from other consumers, which can help you from making a purchase you’ll regret—or finding a better, cheaper alternative.
Do you ever go to a store with a mission to purchase a specific item or list of items, but end up buying much more? Make a rule for yourself and stick to it: any unplanned purchases that you want to make require some time to think about. Allow yourself several days, weeks, or even months—depending on how expensive the item is. This could require a ton of patience if it’s something you really want, but you might end up forgetting all about it or realizing it you don’t actually want it that much, thus saving you money.
Do you need money to take care of expenses or to make a large purchase? If you’re receiving annuity payments, contact Peachtree Financial Solutions today to find out how you can sell some or all of your future payments and receive a lump sum of cash.
Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.