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• Don't underestimate the value of comparison shopping

  Posted Jun 08 2008, 10:22 PM by Karen Datko
  Filed under: Spending, Saving, Get Rich Slowly, Groceries
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  This post comes from J.D. Roth at partner blog Get Rich Slowly.

  Consumers underestimate the power of comparison shopping, says a five-year-old report from the Consumer Literacy Consortium. "Consumers often do not realize that, for most products, a wide range of prices are available and, therefore, consumers often pay too much for the items they buy."

  (The study) results show that most consumers need a far lower price savings to persuade them to comparison shop than can actually be obtained from shopping around. These findings are particularly significant, since the available consumer behavior research indicates that, on the average, only about 50% of people shop around. An important reason as to why consumers do not shop around is the perception that it is not worth the effort. They rationalize that the savings potential will not be greater than the desired 10% savings needed to motivate action.   Read More...

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• An angel on one shoulder and a devil on the other

  Posted Mar 23 2008, 11:56 PM by Karen Datko
  Filed under: Spending, Saving, Get Rich Slowly, Groceries
  Rating:

  This post comes from J.D. Roth at partner blog Get Rich Slowly.

  We received a Costco coupon book in the mail. Costco -- a membership warehouse store -- has very low prices and generally does not take coupons. A few times a year, though, they send out fliers with special discounts.

  My wife flipped through the book first, clipping coupons for Kleenex, cat litter and Ziploc bags. When she was finished, I picked it up to look for things she'd missed.

  On the first page, I nearly tore out a coupon for $6 off a 10-pack of toothbrushes.

  On the next page, I was drawn to a coupon for four pounds of jelly beans.

  Later in the book, I was tempted by a stainless steel slow cooker. ("We already have a slow cooker," My wife muttered in exasperation when I showed her the coupon.)   Read More...

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