When can procrastination and—let’s call it like it is—laziness actually help you out? When it comes to saving money! To stretch your budget and fatten your wallet, learning to simply wait can often make all the difference between saving money and wasting it.
Patience, a kinder, gentler word than those mentioned above, is not only a virtue, but also a strategy to help you get more value out of what you already have as well as what you purchase. Here’s just a few ways practicing a little procrastination—er, patience—can help you realize savings:
Take your time acquiring a new purchase. While it goes without saying that it’s important to snatch up a steal when you see it, it’s just as important to know when to wait it out for an even steeper discount. If you jump the gun too soon, you run the risk of paying a higher price than necessary. And that equates to just throwing money away.
Learn from the (costly) mistakes of others. Avoid running out to buy the latest and greatest. Instead, let others do the initial test buying. Holding off and waiting ensures you’re less likely to buy a subpar product. Waiting affords you the luxury of reading consumer reviews, ratings and warnings. Why make a costly mistake if you don’t have to? Let someone else take the test drive, and learn (and save) from their mistakes and courtesy of their dime.
Allow products to sit to do their job. Just like saving money is often not about how much harder you work, but how much smarter you spend, so it is with cleaning products around the house. If you’re willing to apply a product and allow it to sit, you’ll not only be able to get the same (or better) results with less products, but with less elbow grease from you, too. Applying more and more product to achieve the desired affect is not only likely useless, it’s an outright waste of your money.
Practice the patience necessary to prep your own food. Want to eat better, enjoy improved health and save money? Start eating at home more, and focus on whole foods rather than processed, convenience foods. Yes, it takes a bit more time to prepare food from scratch, but at a time when food prices continue to climb, a bit of practiced patience in the kitchen can translate to real savings in your grocery bill.
Wait until the hype has died down to snatch a deal. Retailers often overbuy and stuff their shelves full of items that are supposedly the next big “it” item. Whether it’s a trendy watch, new shoes or the next big video game, overzealous retailers are often left with an abundance of such items that simply didn’t sell. Make it your business to procrastinate when it comes to purchasing such items. If you’re willing to wait it out a bit, you’ll likely be rewarded with the exact same item purchased at only a fraction of the cost.
Photo credit: heavdog
This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.
EverBank Money Market Account 1.25%: Open an EverBank Money Market Account with a minimum balance of $1,500 and earn 1.25% bonus rate for the first six months. The first year APY is 1.01% for account balance up to $50,000. Find out more about this offer.