Regroup & Refocus for 2012~Take the Savings pledge!

Ok everyone……holidays are over (mostly) so it’s time to regroup and refocus. Let’s make 2012 a great financial year for all of us. On your to-do list for this week, look at your household budget and take the Savings.com Savings Pledge. While I’ve exercised a lot of restraint the past few weeks, and haven’t nearly spent what I would have liked to have spent…….I still did quite a bit of unnecessary spending. I need to discipline myself, refocus, and remind myself to get back on board with this.

What’s your goal? What are you saving for?

Savings Pledge, principle #2

“I pledge to buy better.” Look for quality, not quantity. Quality lasts.

I frequently joke about being cheap, a tightwad, a cheapass and more. And the truth is, I like to save money. Or, I should say, I hate spending money unnecessarily. If I need to buy something, first I choose the item(s) I want, then I set about getting the best price that I can for it. Not everything requires a ton of research–for things like groceries and household goods, we pretty much know what we like and what we don’t like. So I go for the cheapest items, at that moment in time, choosing from a group of select items or brands.

People wrongly assume that just because we are frugal, that I just always go for the cheapest item. This is not true at all. Often, the cheapest item possible may be of lower quality. I ranted a few weeks ago because a certain clothing retailer (old navy, cough, cough) advertised a big sale, then fell flat on supply. Fact is, I don’t like them anyway. I think that their stuff is horrible quality and rarely makes it through a few launderings. I honestly don’t understand why people like it as much as they do. Sure, they sell flip-flops for a buck, but be prepared to be singing along with Jimmy Buffett……because they won’t last.

When it comes to clothing, outerwear, footwear, cars and our home, we really aim for quality. We have made significant home renovations in the past ten years and have always chosen quality items and quality workmanship. Sure, we could have done things for a lot cheaper and have had the home completely done by now. But $2 window blinds from the local discount outlet just don’t last. We also have a smaller home than what is generally the norm, which means things like floor coverings, our roof and other big ticket items–we were still able to afford quality because of the smaller square footage. We won’t ever have to replace our roof again in our lifetime. In terms of money, hassle, inconvenience–that’s huge! I understand–some folks out there may only be able to afford the $2 window blinds right now or nothing at all, I get that. But for the long haul, your best bet is too seek value, not just price. And there is a huge difference.

So just say no to the hot pink ruffled blouse on clearance right now for $2–if it’s really not your style and you have nothing to wear it with. $2 is a great price for a blouse, but not if you never wear it. If it sits in the back of your closet for two years then heads out to Goodwill, then it’s just $2 down the drain. Better to have one $20 blouse that you wear and enjoy wearing and look good in, with classic styling that goes with many things–than to have ten $2 blouses that you don’t wear.

Remember, focus on what you need first, then set about getting the best price that you can for it.

Savings Pledge update

A few weeks ago, Savings.com named me one of their 2011 Deal Pros! Exciting, huh? Well, for a coupon nerd like me, it is. We kicked off this honor by encouraging all of our readers and followers to take the Savings Pledge. I pledged to save $100 a week. So far, not doing so great, but I am on the right track.

We are now almost three weeks into the pledge, but it’s not too late to join. All together, we’ve encouraged over 1400 of our readers, followers, and members to pledge to save $4,480,734! There’s a button on this blog and a tab on the Facebook page if you want to join us. I’d love to see us grow those numbers! Continue to stay tuned for weekly updates as well as ideas and tips to help you reach your savings goal.

Here are some tips to get you started. It’s a post from a few weeks ago–10 Tips on Finding Hidden Money.

Happy Savings!