Tend Your Need List

Remember the NEED LIST?

Review Questioning Needs for a bit of a refresher. As a general rule, a need that you have examined and found to be legitimate doesn't automatically get met right away. First it goes onto your Need List. The Need List requires action, but not the action you might think. Buying anything on that list needs careful consideration if your finances are already pinched. The list is important. It isn't a "No" list. But this approach can save you a lot of money.

Regularly review your list and apply this ongoing process to all the items. No doubt you have already prioritized which needs are more urgent. However, take the time to do this with all the items on the list.

First of all, research the value of the item. Get a ballpark figure or a quote. Comparison shop for retail prices so that you will recognize an extremely good deal when it shows up.

Begin to watch for sales and discounts, and for the item being sold privately.

Spread the word among your networks that you are seeking the item or service. This often brings the best results of all. It's astonishing how frequently someone you know knows someone who has the solution to your need, and often at low or no cost.

Have patience. You will eventually be able to meet your need at a price that you know, beyond all doubt, is extremely good, Then you can spend the money with no regrets.

Never Pay Full Price

Everything goes on sale – so wait for the sale. That's where the Need List is so valuable. if it’s on your list and you've done your research, your antennae will be filtering data. You’ll be tuned in, and when the opportune moment arrives, you're ready to move on it.

Ask for “the best price.” You may be surprised to find that the sticker price isn't necessarily the final price. Ask when the next sale is coming.

Can you get a better price if you buy in quantity? Going together with others in your network who need the same thing, can result in discounts as well as big savings on shipping, such as when the free shipping threshhold is far higher than you could reach on your own.

Use percentage off coupons, but only for products that you actually value and need. Don't get sucked into buying a supposed bargain that is a high-priced, heavily-processed, temptingly-packaged product you know doesn't have your best interests at heart.

On the other hand, when an item you do use and value is on a special offer, stocking up makes good sense  as a way to avoid paying full retail later on. This is especially relevant for grocery stores. Once you start paying attention to the sale cycles, you'll have a sense of how much to buy to last until the next sale.

Choose Used If Possible

The value of almost anything drops dramatically as soon as you leave the store. Why not avoid paying for depreciation? Let someone else buy it retail, and then take it off their hands for them when they no longer want it. That's how the consumer game works. Buyers become dissatisfied with a perfectly good product just because advertising has tricked them into craving a newer model. By relieving them of their castoffs, we're doing an act of kindness, right? I jest, but I think you get my meaning.

Reusing is an invaluable practice. The sheer mass of refuse that our society produces boggles my mind. It is unsustainable and unconscionable. Every time we choose used instead of new, there's a glimmer of light in the dark cloud of rampant consumerism.

You're probably familiar with most ways to find used goods. Garage sales and private individuals who advertise their items often net the best prices. Be aware that there are folks who regularly shop these, buying and then reselling for profit, so try to get to the original owner and cut out any middleman surcharge.

The other golden opportunity is visiting the thrift stores in your area. Almost every thrift store I've ever seen has a worthwhile mission, and by shopping there, you benefit humanity according to how that organization uses their profits. Thrift stores are mostly staffed by volunteers and sell donated goods so the prices are exceptionally low. The constant turnover of stock makes for an adventure every time. Sooner or later you'll find what you're looking for.

Seek Free Stuff

I have so many examples. By nature I see the possibilities in everything. This propensity has to be kept under tight rein, but it's also saved us a lot of money. Here are a few examples.

• • We wanted a compost bin while we were renting, so we collected four free wood pallets and assembled a bin for free. In a more permanent location, Jim gathered pallet wood to salvage the 2x4's for garden framing.
  • Jim once worked in a industrial mall that included a hardwood milling company. Their dumpster held short ends of scrap hardwood that became the basis of woodworking projects he designed such as a 3-D chess board.
  • Once we needed a lawn mower with big wheels to cut a rough area on our property. We were tuned in so when Jim spotted one in the spring curbside collection pile, we snapped it up. With a little TLC it was perfect.
  • Jim worked at businesses that had a policy of replacing furniture and equipment according to a depreciation schedule. Conversations with the appropriate staff person gained us several useful items for our home offices, including an executive desk and chair. Apparently a new president can't sit at a used desk.

A spin on free stuff is being part of an informal sharing groups. Parents pass on kids' clothes and toys because most  young children's clothing is outgrown long before it wears out. Local churches often offer this kind of event as a community service. Neighbours can share seldom used equipment such as power washers and shop vacs, even tools. Be sure to give back, keep it fair. No one likes to feel used.

Bartering is another form of free – trading skills or extra goods you have for services and goods you need. Soft skills and specialized knowledge have value in the world of casual trading. Do some creative thinking about what you have to offer.

Use Less. Use It Up

In my first year as a career-girl graphic designer in Toronto, I went for a haircut at an upscale, big city salon. It seemed like a fitting way to salute my new life. Turned out that the haircut wasn't particularly great and the stylist was just a bit demeaning. I never went back. But I might have gotten my money's worth from this one nugget. He said, "It's not about how much lather you get. All that matters is the product touching each strand of hair."

Advertising can distort our sense of normal by showing models using far more product than they need, or for that matter, by touting products that are not necessary at all.

Use less and see what happens. Using 50% less each time is the equivalent of buying your product at half price. Now there is a sobering thought.

Toothpaste is a good example. A series of animated commercials showed a closeup of a toothbrush with a line of striped toothpaste covering all the rows of bristles plus an adorable curl at the end. Eww. That much toothpaste in your mouth would be gross. In reality, a dab does the job and the rest goes down the drain. It is especially important to help the kids in your household see these as opportunities to score in the anti-consumer game. They have no concept of cost and waste unless you show them. I remember when my youngest needed toilet paper rolls for a craft. I found her in the bathroom unwinding and flushing toilet paper to get at the roll. So yes, I confess, I made a little sign:

"Save some money, save some trees,
Use just six sheets if you please."

Use it up is the other aspect of this principle. I once bought a fairly expensive eye cream in a tube. When no more would come out, instead of assuming the tube was empty and tossing it, I cut off the end. I was amazed to see at least a quarter of the product still clinging to the inside of the container. A little plastic wrap to keep it soft, and I got  another six weeks from it. I'm sure you can think of many examples similar to this. It doesn't seem like a big deal until you translate it into terms of percentage of expense, and then it does.

An especially important way to save money with the Use it up principle is to reduce your food waste. Smoothies and soups are great vehicles for using up small amounts of food, raw or cooked. Leftovers don't need to be thrown out. One of our favourite family meals was called "Grub-Around." Hooray! Everybody got to eat exactly what they wanted from the food on hand which I spread out buffet style on the kitchen counter. No two plates looked the same. So much happiness.

Time to Think It Over

Extravagant living is the norm for our society if you believe the advertising. Let's not believe it. The race to extravagant consumption is not the path to contentment or good money management. Choose one of these five core principles and apply it to a current need in your life.