It seems that nobody can escape the clutches of websites like Amazon today, luring millions and millions of Americans shop at the comfort of their home computer. As we are faced with a dizzying array of information about ratings, pricing, and performance, how are we to really know which products are better or worse? Take a thumbs up from a friend on Facebook? Do your due diligence through Consumer Reports? Or, should you just hit the plethora of websites that will rate and rank everything. Not only do we work hard on building financial plans and managing money, but we also look to see how can we can save our clients some additional money. Here are seven ideas on getting a product that is priced higher at a similar product with a lower cost.
- Beats Earbuds
The idea of dropping $78 on a pair of Beats headphones is completely reasonable for many shoppers.
By significantly cheaper, I mean about 90% less than its pricey competition. The in-ear headphones described above are made by Panasonic and get a very high 4.5-star rating with over 28,000 reviews. By comparison, the $78 Beats version only received 3.5 stars with just over 1,500 reviews on Amazon.
- Top-Shelf Liquor at Costco
While Costco would never admit to it, many spirit connoisseurs believe Kirkland Signature Vodka is produced by Grey Goose, Kirkland Scotch by Macallan, and their bourbon by Jim Beam. Whether they are or not, the Kirkland brands often beat the top-shelf liquors in blind taste tests — making them great buys, especially with a price tag at almost 40% less per bottle. (source: Pennyhoarder.com)
- Shampoos and Sprays
Instead of MAC setting spray, buy E.L.F.’s cheaper version Read more: http://www.gurl.com/2014/05/01/splurge-vs-steal-makeup-beauty-dupes-nars-elf-mac-nyx/#ixzz40oFgGjYR
- Generic Medications
Have you ever looked at a box of generic cold medicine and compared it to the name-brand alternative? NyQuil, or Tylenol= Get Walgreens Brand or CVS Brand instead
We don’t often look at the cost of cabling when we buy it for home or small business office networks.
monsterproducts.com / monoprice.com
- Beef Jerky
There is such a huge market now for Beef Jerky that companies like Krave and Jack’s Links are killing the market right now. Consider a store brand alternative without really giving up the taste. Try the Nice package at Walgreens or Store brand at your grocer to save 20% to 30% on the purchase
- Expensive Brand-Name Makeup
Many “drugstore” cosmetics are just as good as their high-end, name-brand counterparts — at a fraction of the price. Diorshow Mascara, another one of those cult beauty products, is basically magic in a bottle. I have used it before, and I absolutely love it. It makes my lashes look long, without getting too heavy or flaking on me. But I just cannot bring myself to buy it every month because of its $25 price tag. Good thing L’Oreal has a nearly identical dupe in its Voluminous Mascara. The wands are almost exactly alike, fuzzy and round, and have a very similar consistency that will lengthen and add volume to your lashes. All for just $8. Also use Drugstores.
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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.