If you’re like almost every other American, after you’ve gorged yourself on all the Thanksgiving day feasts, you’ll be headed out to do a little gorging of a consumer variety.  Black Friday is well known as one of the largest shopping days of the year.  Most every retail store has some huge deals for the turkey-drunk shoppers that wander to their doors.  And, like most every other American, you’ll likely spend way more than you had planned on spending.

As your favorite personal finance blogger, I urge you to not do that.  I’m all about buying what we need at a price that is below the normal retail price.  Sales, coupons, and rebates are the way to go when buying things that we need.  But, chances are, the things that will be on sale on Black Friday will not be things that you need.  In fact, they’re likely to be things like big-screen televisions, computers, and the hot toy of the day.  You’re going to be tempted to buy them all, because the marketing department makes it look like such a incredible deal!  Here’s some tips for avoiding that temptation, and coming away from your Black Friday shopping with a happy account balance.

1. Have a budget.  This should be the only tip you need.  But, you’ll get in the store and be tempted.  But, having a defined budget for how much you are planning to spend is still a good thing!  Even if you go over that budget, you’re much more likely to at least stay close to it if you have a budget, than you are if you don’t have one at all.
2. Make a list.  You’re likely shopping for gifts for everyone, hoping to make them all happy while saving some money on what you buy them.  Make a list of the people you’re planning on buying for, compare it to the flyers that will be inundating your vision over the next week, and then make a master list of people, with the things you plan on buying for them, and where you’ll be buying them.  Now, stick to your list!
3. Be aware of prices.  Just because the marketing department put the price in big yellow letters over a big red starburst does not mean that it’s really a good deal.  The stores will be full of items that they are marketing as a big savings, when they really are not.  Be aware of the prices of competitors, sure, but also be aware of what the price for that item was last week and be wary of artificial sale prices that aren’t really sale prices.
4. Don’t fall for the swap.  Many of the places will have a very limited amount of the big sale items on hand.  When they run out, they’ll “swap” the sale item for a similar item that’s more expensive.  You’re there for the big sale item, and you can’t leave without it, so you pay the little bit extra to get the similar item.  Usually, that “swap” item is regular priced, and not on sale at all.
5. Free can be bad.  More than any other day in the year, the stores will be pushing free items.  “Buy a tickle-me-broke, and get a free tin can!”  The free item is usually a low cost item (loss leader) that they can afford to give away, while the item you have to buy is usually not on sale for as much as they’d like you to believe, and is a much higher profit item.

The biggest thing to remember while you’re doing your shopping next friday is to be aware.  Be aware that the store isn’t out to save you money.  They want to make money, so they will do what they can to bring you in the doors with a huge sale and then sell you all the high-profit items that aren’t on that huge sale list. We’ve all seen the videos each year of the people trampling each other trying to get one of the ten of those super cool kitchen gadgets, or video game systems.  Don’t be that person.  Be conscious of what you want to buy, how much it sold for before, and what the price should be the day you’re buying it.  Have a set amount you want to spend and stay close to that amount.  You’ll be happier that you did.

What are your plans for Black Friday?  Gonna be in the crowds at midnight?  Or wait until it cools off later in the day?  Or, are you a Cyber Monday shopper?

photo credit: Matt McGee

Prosper.com, the social lending site, is having a super special to honor our veterans this weekend.  Starting today (11/11/11) through Tuesday (11/15/11), they’re doing some special stuff for veteran’s loans.

1. $50 Donation for Every Listing to the National Military Family Association
   Prosper will also donate $50, up to $10,000, to the National Military Family Association (www.militaryfamily.org) for each loan that is listed as a part of this program during the program period and subsequently originated.*
2. Second Payment Free for Vets
   US Veterans and active military who apply for a loan during the program period and get a loan, will get their 2nd payment free, up to $250.**

If you’re a veteran and want to take advantage of this great program, you can sign up for Prosper and get more details.

Happy Veterans Day!  Thank You to all those who are and have served for our country!

Every day, I hear people say that they don’t use coupons because they don’t have the time to go through the papers and mailers and clip the coupons. “It just takes too much time” they say. Those same people, will spend hours budgeting and finding ways to save themselves money, but they don’t see couponing as a viable use of their time and efforts. While coupons may not be as important to your financial health as a budget, they can be just as good as many of the other saving methods that you will employ.

With the popularity of extreme couponing, it’s no wonder that people feel that they need to spend hours each week pouring over newspaper inserts, clipping coupons, then sorting them all into categories and then making plans for where they’ll shop and what they’ll buy. In their mind, they see piles and piles of inserts, and closets full of extra supplies that they’ll need years to use up.

Couponing doesn’t need to be extreme, though. If skipping your daily latte can be a good strategy for saving a few dollars a day, so can clipping a few coupons. Taking a few minutes each week to flip through the inserts in your paper and clipping the few coupons that you find for the things that you buy regularly can easily save you a few dollars a week. Signing up for manufacturer email newsletters can often result in an electronic coupon to print out once or twice a month. A few extra emails a month is a small price to pay to save a dollar or two.

Now, the thing to remember here is that you aren’t going to retire off of the money you’ll save. And, you certainly won’t be sending your kids to college with it either. But, saving money is saving money. A few dollars here, and a few dollars there all adds up in the grand scheme of things. Heck, maybe you clip coupons so that you can treat yourself once a week to that latte that you’re currently skipping.

Anything that can be done, has been done to an extreme. But, just because the extreme version of something is popular, doesn’t mean that it has to be the only way. Just like there are people who run extreme marathons of 100 miles or more, doesn’t mean that you can’t be a runner. Just because there are hyper-milers who squeeze every extra bit of MPG out of their cars, doesn’t mean that you can’t employ a few of the same methods to save a bit on gas. And, just because there are people who spend hours each week clipping, sorting, and analyzing coupons, doesn’t mean that you can’t spend a few minutes each Sunday to save a few bucks.

photo credit: sdc2027

This post is being brought to you through the sponsorship of CouponCodes4U.com

I have a small confession to make to you.  Despite the obvious frugal focus of this site, I’m terrible at looking for coupons for things before I buy them.  I’m a calculated buyer.  I’ll price compare for hours before deciding on an item.  I’ll spend weeks bidding on things on eBay to get the price I want and the product I want.  But, I’m terrible at looking for coupons first.

My wife is the couponer.  She has a knack for finding coupons, collecting the deals up and using the coupons to buy what we need.  The other day, she hit Walmart and came away with over $50 in coupon savings.  She’s good at it.  I’m not.  She’s also good at remembering to use the links in the paid-to-shop sites as well.  I can’t seem to ever remember them.

But, with the rise of couponing, once again, as a viable way to stay frugal on a budget, it’s become more and more important to look for a coupon when shopping for anything.  And, there are starting to be coupons for just about anything you could want to buy.  Say you want to buy a pair of Vans shoes.  If you look, you can find Vans coupons.

One popular misconception that many have is that coupons are usually only for brand name items, and smaller ticket items.  That isn’t necessarily true anymore.  Say you’re looking for a new cell phone contract, but you don’t want to spend the big bucks and get locked into a long-term contract.  Going with one of the pre-paid services might be right for you.  What you need is a Straight Talk Promo Code.  Then you can get that wireless service, at a frugal price.

Finding and using coupons isn’t all that hard.  But, it’s something that I definitely need to get much better at.  Just because I’m saving money by buying online (usually), and making calculated buying decisions doesn’t mean that I can’t save even more money by using coupons.  Combined with those frugal buying habits, coupons can be a great money saver.

Whether you’re buying a toaster, shoes, or even a cell phone, doing a quick search for a coupon first can save you money.

What are your coupon habits?  Do you clip like there’s no tomorrow?  Or do you see coupons as just another waste of your time and leave them to others to use?  Or, maybe you’re like me and use coupons only when you remember to?

Swagbucks is having another sign-up bonus week as well as a referral promotion that will last through the end of the year.  When you sign up a new account with Swagbucks, and use the code 5for5, you will get an additional 70 Swagbucks added onto the normal 30 you get when you sign up for a total of 100 at sign-up.  It only takes 450 to get a $5 Amazon card (my favorite way to use my points), so you’ll already be almost 1/4 of the way to your first reward.

Once you’ve signed up, you can refer other people.  During this promotion, you have to get 5 or more new referrals that aren’t related or living at the same address.  Once you’ve done that, and each of them gets their first 50 earned (not sign-up bonus) Swagbucks, you’ll get a bonus 500 for referring them.

So, if you’ve been putting off signing up for Swagbucks, this week might be the week to do it.  The 5for5 sign-up code is only good through 12 PM Pacific on Monday the 17th of October 2011.  The referral bonus is live through the end of the year.

My take on Swagbucks is this: You aren’t going to get rich by using it, but I average one $5 amazon card every two months.  If nothing else, it’s a free e-book every other month.  Or, two free hardcovers every year.  With very little extra work by me.  I just use their search when I have to search for something online.

I’ve done a bit of work with Printing for Less before, both as an affiliate and as a customer, and they’re good folks to work with.  So, I thought I would pass this coupon along to my readers.  The links are affiliate links, so I will earn something if you purchase through them, but they do put out a good product.

Anyways, you probably don’t want to read my ramblings.  “Get to the coupon!”, I can hear you yelling.  So here it is.

Use the coupon code: Affiliate100

Get $100 off of a purchase of $300 or more before 10/1/2011

Only available to new customers.

That’s a pretty good deal.  At 33% off, you’ll be hard pressed to find a better deal on quality business cards, brochures, letterhead, or whatever you need for your home or business.  So, if you’re in the market, click here, and start saving.

Swagbucks is running a pretty good bonus on their special offers through the 21st of August.  Here’s the info that I got from them:

Swagbucks is always looking for new ways for you to earn Reward Points, and this week they’ve got a promotion designed to help you get your free stuff faster! All this week, for any qualifying Special Offer you complete from now through Sunday, August 21st, you’ll receive a 20% bonus on what you earn That bonus will be applied no later than 4:00pm PDT on Monday, August 22nd.

Offers from the following providers qualify for the bonus:

Ad Rewards
Gambit
Trialpay (Offers & Daily Deals)
RadiumOne
Paymentwall
Super Rewards
Peanut Labs (Surveys & Offers) and Sponsorpay
If you haven’t done Special Offers before, you can choose from a variety of different offers (free, purchase required, games, surveys, watching videos, etc.), each of which pay you a Swag Bucks reward. Get started today and earn big all week long!

Worth taking a look at if you’re a member of swagbucks.  If you aren’t, you should give it a look.  It’s pretty easy to gather swagbucks and one of the major contributors to my Amazon addiction.   If you click on those links in that info, you’ll end up showing up as a referral to me.  I get a match on your search bucks up to 1000 bucks.  That’s a little over two $5 Amazon cards!

Ever since TLC decided that it would make for good reality television to follow around a bunch of folks who use coupons and dub them “Extreme Couponers”, there’s been a ton of talk about the people on the show, and people like them.  People who spend hours each day clipping coupons and then checking them against store fliers all so they can create spreadsheets and action plans on how to best use the coupons in order to pay the least amount of money for whatever it is that they are buying.

So far, I’ve avoided talking about these people.  I figure it’s about time that I make my thoughts known.  What kind of personal finance site would Beating Broke be if we didn’t talk about one of the hottest topics in the personal finance world.  My immediate take upon watching an episode of the show was that the people on it are a bit OCD.  I like my money, and I’d rather not part with it if I don’t have to, but not so badly that I’m going to buy several hundred tubes of toothpaste.  Or several hundred of anything for that matter.  I also don’t buy the “I saved $xxx” argument.  If you hadn’t gone to the store in the first place, you would have saved every penny you spent.

Coupons can play a somewhat important role in your shopping.  But, it doesn’t have to be as overwhelming as all that.  My wife, for instance, is on a coupon train that she joined through Swapmamas.  Every week or so, she gets a big envelope that’s bursting at the seam with coupons that the person who sent them to her just couldn’t use.  She’ll sort through them while we’re watching T.V. or lying in bed at the end of the day.  She carries the ones she keeps in a nice little accordion pocket organizer that she bought for that reason, then sends the rest off to the next person on the train.  When we go shopping, we try to make a list and she’ll take 10-15 minutes to flip through the coupons to see if we have any that we can use.  We don’t get results like the folks on that show, but it’s not out of the ordinary to save anywhere from 5% to 20% on any given trip.  On stuff we were going to buy anyways.

Extreme couponing has become a bit of a fad.  People are watching shows like the one on TLC and thinking they can do the same thing.  Some of them are going to less than honest means to achieve those goals and are stealing papers from dispensers just to get to the valuable coupons in the inserts.  When you have to steal to save your money, you really need to draw that line and get some help.  Done right, couponing can be something that is hardly intrusive at all, and that can save you some money.  Done right, it can become a bit of a lifestyle.

Some say they just don’t have the time to use coupons, but I think they have a somewhat distorted view of the time involved.  It doesn’t have to be time consuming, and the returns can be rewarding.  Give it a try.  Next thing you know, you’ll be buying two of those Sunday papers.

photo credit: bargainbri

After the long days of summer, many parents look forward to their children’s return to school.  Unfortunately, preparing for the return to school often includes a large financial outlay for back to school supplies and clothes.  However, there are several strategies you can employ to limit how much you have to spend.

Back to School Supplies

-In late July, try to obtain your child’s back to school supply list from the school.  Scour the ads for great deals and look at sites like A Full Cup to learn which items you can get for free.  It may take several weeks for all of the items on your child’s list to go on sale, which is why you want to start shopping in late July.  I employed this strategy last year and got all of my son’s school supplies for $12, and I bought extra to give at Christmas too.

-Keep in mind that stores such as Staples, Office Depot and Office Max have a price matching policy.   If you find a lower price at a competitor’s store, bring in the ad, and the store you are shopping at will match the price.  You can save gas by taking advantage of this policy, but beware that most have a 7 to 14 day window for the competitor’s price, and a few stores exclude prices advertised on websites.

-When you can obtain items for free, try to buy more than you need.  Then, if your child runs out of some of the supplies mid-school year, you won’t have to pay full price to buy more.  You can just shop in your supply you got for free.

Back to School Clothing

-Before going out to shop for clothes, first go through your child’s closet to see what clothing they already have that still fits and is in good condition.  Make a list of items and colors so you can look for matching pieces when shopping.

-Check out stores like Once Upon a Child.  They often have new designer clothes for 1/3 to ½ the retail cost.

-Buy on eBay.  Many people list their children’s gently worn clothes on eBay, and you can find many auctions in late July and August.  To make sure you get a good deal, read the description thoroughly.  A good seller should specify how worn the clothes are and any flaws in the clothing.  To make sure you are dealing with a good seller, check their feedback.  It should be 100% positive.  I never buy from a seller with lower than 98% positive feedback.  Also, the more feedback a seller has, the more experienced they are.  Finally, feel free to ask questions about the clothing before you bid on it.  Consider buying several auctions from one seller who combines shipping to save on shipping costs.

-Check out Craigslist.  People often list their children’s clothes for sale and when they are having garage sales.  You probably don’t want to buy all of your children’s clothes used, but you can find some high quality clothing at a fraction of the cost by considering used clothing markets.

-Buy mix and match clothing.  Try to buy 3 to 4 pairs of pants and 5 to 6 shirts that can be interchanged.  This dramatically extends the variety of outfits your child can wear.

-Stagger your buying.  Buy some lightweight fall clothes early in the season, and buy sweaters and warmer clothes later in the fall.  This can help you distribute the money that you spend over a few months.  Wait for seasonal sales such as Columbus Day.  Also, the stores frequently reduce the fall merchandise to make way for the winter items; try to buy more clothes when they are on clearance.

The average American spends $600 on back to school shopping.  You can reduce that amount by half or more by following some of these strategies.  If you take the time to plan ahead and wait for the sales, you can dramatically cut your back-to-school expenses.  Happy frugal shopping!

photo credit: me and the sysop

If you’re reading this blog, chances are you know all the tips and tricks associated with spending less. But everyone needs to spend money sooner or later. So when you know you’ll have to open up the wallet, spending smarter is your last defense against wasting your hard earned cash and maintaining a contribution to your high interest savings account . Smarter spending can save money and get you to feel better about your purchases at the same time. So how do we spend smarter? By reducing or eliminating ‘spending mistakes’.

We’ve all had the experience of buying something we regretted. It probably happens more often than you think. Whether it is clothing you don’t wear, something sitting in the fridge or freezer because no one wants it or some toy or gadget taking up space. How do we define spending mistakes?
I define spending mistakes as anything you buy which you do not get full value out of. Whether this means you only received limited value or no value at all. For those who are already doing what they can to spend frugally, spending smarter may be the last, best way left to save more. The following is my list of 11 tips to help you spend your money in a more effective and efficient way.

All Products / Services

Read Reviews and Compare First
This advice is usually adhered to for major purchases like cars and TV’s, but smart spender gather as much knowledge about the products or services they are about to buy, every time. Whether you check a place out on yelp first (great for knowing what to order), reading reviews online for fashion or checking consumer reports. Do your homework and you will spend smarter.

Know Their Refund and Return Policies
Always ask about refund and return policies and make sure you adhere to their guidelines. I get a real sinking feeling when I did something small or stupid to void a chance to refund or exchange something I only realize later was a mistake to buy in the first place.

Know Why And How You’ll Use The Item
Before you buy a new gadget or anything really, figure out how you will use the item in your day to day life. Also, make sure the item is an improvement over whatever you do now and is worth the cost. Better products come out every day, make sure the upgrade is worth the extra cash. If you’re buying toys for your kids, if they are old enough, ask them how/when they would use the toy. If a kid knows all that stands in their way of a new toy is a good reason why they should have it, they’ll be motivated to give a good answer. Plus, it is a great way to develop their logic and reasoning skills.

Follow Your Basic Shopping Knowledge
Searching for coupons and using a shopping list are no-brainers that no self proclaimed frugal spender can do without. However, no list is complete without mentioning these shopping strategy staples. But it doesn’t hurt to be reminded of these tips for being a savvy spender.

Food and Drinks

Don’t Buy It Until You’ve Tried It
Think that new 6-pack looks good? Only see the family size version of a new product? Want to switch brands? See if others you know have the product for you to try yourself. If that won’t work, try waiting until you can buy a cheaper or smaller quantity of a product before you invest in a more expensive purchase you may need to suffer through till you finish. Or worse, need to throw away and replace completely. Also, try these other ways to save on food costs

Clothing and Accessories

Wait Before You Buy
After you find an article of clothing, try waiting a week before you buy it. If you can go a week without needing an item you were on the verge of buying, chances are, you don’t really need it. This works best however, with bigger clothing purchases, like new shoes, dresses or jackets/coats. If after a week you still feel you NEED that item, you have already cut down drastically on the chance this is a mistake purchase.

Use A Shopping List
Just like groceries, you may be tempted to buy more than you need when you go clothes shopping, particularly during sales. By having a list of what you need, with notes about what colors or styles will fit best, you can cut down on mistake purchases by being able to zone in on what you’re really after. This can also help you save time too.

Know Your Wardrobe Before You Shop
While men seem to suffer with this more so than woman (no shock there), knowing what you have at home can prevent you from buying something you realize later you can’t match with anything.

Don’t Take The Tags Off
Don’t take off the tags until you are putting on that item and are sure you are going to walk out the door with it on. If you are the type to go shopping, come home and cut off all the tags and labels immediately, you could be making a mistake. First of all, leaving the tags on until you are about to wear it will remind you that this item is new and hasn’t been worn, who doesn’t like having that feeling? Second, if somehow the item gets pushed back in your closet and doesn’t get worn, having your tags intact can help you return it more easily or sell it for more money.

Don’t Rush To A Decision
Chances of a mistake purchase are at their highest if you’re not really into the item at first sight. Spend some time looking at the item, coming back to it later after browsing through more options. And definitely try it on. Nothing makes you feel worse than bringing something back you barely liked to find out it doesn’t fit anyway. However, sometimes you can use a second, or third, opinion, which brings us to the last tip.

Go With Other People
Go with someone who you trust to make purchasing decisions. A second, or even third opinion can help ensure you don’t buy something you won’t want to wear out when the time comes.

Pro tip – Designate certain people to help you buy certain attire. Have different “bar friends”, “golf friends”, “dinner and movie friends” and “business friends”? While your exact groups may vary, some of us tend to do certain things with certain people. Not only will going shopping with them help eliminate mistakes, but it can also lead to a nice day with a friend and strengthen your bond.

We want to know what your money saving tips while shopping are and what you think of this list in the comments below. And if you have shopping buddies or feel others can benefit from the advice here, do not forget to share it on Facebook or Tweet about it. Sharing is caring

Author Bio: Daniel Rosenhaus is a frugal spender himself and loves sharing tips on saving money so others can continue their commitments to their high yield online savings accounts.

photo credit: epSos.de