Shopping

“Shop in stores with concrete floors.”

A self-made millionaire gave me that little nugget of wisdom. And boy oh boy, he was dead on the money. Basically, those huge warehouse stores (like Costco, Sam’s Club) are a treasure trove of cheap deals for the frugal shopper.

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Buy raincoats in summer, because winter always comes.

You’ve almost certainly heard this one from a few sources (mine was from my dear old mum) but it’s without doubt one of the best pieces of advice for anyone watching their pennies.

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The greatest story ever sold is a fantasy covered in blood.

Want an easy way to save 3+ months’ salary? Don’t buy a diamond engagement ring. If your fiancée, friends and family scream hellfire, calmly explain:

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15 million British shoppers with math skills of fifth graders get government help

14.9 million adults in England do not have the math skills of an 11-year old.

During this holiday shopping season, these poor souls will have trouble figuring out simple calculations for "20 percent off" or "buy one, get the second half-price,” according to the Department for Education and Skills (DfES).

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Special holiday return policies of popular stores

Consumer World compiled a great list of the special holiday return policies of some of the most popular stores such as Amazon, Best Buy, Toys R Us, Wal-Mart, Kohl's, Target, Costco, etc.

Consumer World is run by Edwgar Dworsky, a highly respected consumer rights attorney. It is pretty sweet having an attorney read the return policy fine print for you, but I advise you to use the chart only as a general guide. Make sure you check out these policies for yourself before making a return or purchase.

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Deadweight loss of Christmas: Economist explains why gifts are inefficient

Did you unwrap any crappy presents this morning? Are you thinking that all the shopping and running around was a big waste of time?

You might be right, says economist Joel Waldfogel.

Waldfogel estimates that people generally spend 16% more on presents than they’re worth to those who receive them. He calls this phenomenon “the deadweight loss of Christmas.”

For example, a deadweight loss is created when you spend $20 to give me a DVD that I would spend only $15 to buy for myself. Economist Tim Harford explains:

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Hype is Expensive

I want a Wii. I really really want one. I’m an avid female gamer and I am dying to play Trauma Center: Second Opinion so I can use Nintendo’s innovative remotes to perform surgery. I want to play Cooking Mama where you race against the clock to mash, slice, cut, and stir based on “real-world receipes.” I want to bring the Wii over to my parents’ house and watch my mom play tennis and my dad try to bowl.

I had one. Actually I had five. I stood in line at Walmart at 6am and was 30th in line at EB Games. I picked up the one I preordered at FYE because no one knew FYE was doing preorders. I got the last one at Game Stop by sheer luck and won a lottery at Costco. I sold them all. At a profit margin of $100-$200, hype paid for the Wii I will pick up when hype cashes in for the year and disappears until next holiday season.

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Nintendo Wii and Sony PS3 locator

Running around frantically searching for the Nintendo Wii or Sony PlayStation3? Save yourself some time and hassle by checking out XPBargain's Nintendo Wii locator first. They also have a Sony PS3 locator.

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Stylish but Cheap Gift Wrap Ideas

Beautiful gift wrapping doesn't have to cost a fortune. You can wrap gifts with everyday items you already have around the home. Not only will you save money, but people will also appreciate your thoughtfulness and creativity.

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