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How To Save: The 7 Habits Of Highly Successful Savers — 8 Comments

  1. A great tip for saving money is being patient, especially when it comes to technology. Never rush out to buy something like a new phone or TV when it first comes out because it will cost you so much more. I remember when plasma TV’s first came out it cost a fortune and now you can buy them for a mere fraction of the cost. Those people who have to have these new gadgets as soon as they come out have more money than sense.

    Another good reason to wait is when you do buy them they will have ironed out some of the bugs 😉

    • Hi Peter,

      thanks for stopping by again!!

      Very well said & I couldn’t agree more – one thing I like to do is get ‘1 model down’ from the latest one. I’ve had some really great mobile phones that way for next to nothing for example. My current phone is a blackberry pearl which is quite old now & cost me next to nothing but it’s right up there with the best of them and I love it. No need to have the very latest all of the time. I completely agree with your more money than sense comment (unfortunately I actually have some close relatives who have that disease ;-)),

      take care,
      Alan

      • Yeah, sometimes my kids get sucked in as well. I tell them to wait but they haven’t learned yet that just because their friends have one is no reason to rush out and buy one. Hopefully they will learn the error of their ways as they mature.

  2. Alan,

    I like the idea that I should expect to pay less. Go into a deal and buy with the idea that I should get the best deal I can. But I am always so bad at negotiating for myself. Why do I say it that way? Well, I will haggle for others and help them get a good deal but I chicken out when it comes to my interests. Lol. I’m overcoming this.

    Alan

    • Hi Allie,

      You should! These are what I’d call fundamental principles of good financial sense (that’s why there’s only seven of them) – I’d love to know if anyone has something (in terms of money management) they think I haven’t covered with these 7 concepts. The point is meant to be that with each, it gets better with practice. With that particular one people often don’t want to negotiate/look to pay less because they think that it’s being ‘cheap’ – it’s not. A lot of the richest people in the world expect to pay less and it’s just in their make up. Say it right and nobody can blame you for asking the question… why shouldn’t you?

      As an investor, the most important of these for me is actually the timing one – it’s really amazing the difference good timing can make. Thanks for your comment & I hope your negotiating improves (I’m sure it will – nice point about haggling for others – that in itself tells a story…)

      p.s. did you see I posted my first video (even though it’s a bit ropey)? That was inspired by you!

      take care,
      Alan

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