 Moderation is key to affording the good life - Wise Consumer
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Audio/Video Script:
Laura Connerly
Instructor - Family Resource Management
Sometimes we talk about getting in shape and about physical
fitness, but I'd like to talk to you about financial fitness, smoothing out some
of those bumps and bulges that come in some of our expense plans. And I have a
few tips for figuring out how to shape up your spending plan or get your
spending in shape.
One of those things is to find the best buy, to be a smart
consumer and to shape up your spending you need to compare prices. We use the
rule of three which means you're going to shop three places or compare three
prices before you make your final purchase decision. While I'm not going to shop
around three places probably for the best buy on a box of cereal, but if it is a
larger item like a washer and dryer or a new car I'm definitely going to shop at
least three places before I make my final purchasing decision.
Another tip is to use wisely. Take good care of what you
have and use it wisely. When you do buy a car get your regular maintenance and
oil changes. Even smaller appliances and things at home you can follow the
manufacturer's instructions or directions. Clothing should be cared for
properly. That will make the items you purchase last longer, and you will
definitely get your money's worth if you use wisely.
Another tip is to substitute items. So, look at your items
and think of ways you could substitute something cheaper. Maybe you could buy
the store brand instead of the name brand for a grocery item. Or, maybe you
could buy the generic medicine instead of the brand name medicine. So,
substituting one product for another you may find that that product does just as
well, but its equal value for less money.
One more tip for shaping up your spending is to rent or
borrow. Things like movies, instead of going out to the movies maybe you could
rent a movie, or better yet, maybe you could borrow it free from the library. So
that's an idea, rent or borrow instead of making the purchase.
Announcer:
To learn more, contact your county Extension agent and
follow the links in this section.
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