Ever heard the axiom, ‘You make your money when you buy’? Well, it is absolutely true. Every penny you can shave off your cost of an item puts more money in YOUR pocket. So here are four BIG tips to help you save money when you source.
- First, if there are regular stores where you source product on a regular basis, consider purchasing gift cards to those stores which you can use to pay for your inventory. There are two ways you can save with gift cards. The first way is to purchase them for less than face value. Sometimes you can find these available on eBay or other sites. The second way is to purchase at a local grocery or drug store where you can get reward points or credits for buying them.
- If you are doing some sourcing online, always start at Ebates.com, Mrrebates.com or Bigcrumbs.com. Register at all three and use them every time you shop.
- Before you hit the ‘Buy’ button for that online purchase, open another browser window and check for a coupon. Some great sites for that are RetailMeNot.comand FatWallet.com
- Another way to save money sourcing is to use the buyer’s clubs and rewards club that many stores offer. You can save a higher % sometimes by using the store’s own branded credit card. Please don’t take this as recommending that you purchase inventory on credit, but using a Kohl’s credit card to purchase your items from Kohl’s can save you 20% or more on every single purchase. Many times the savings is in addition to the already sale or clearance pricing. Just make sure to pay off that bill when it arrives.
If you do a lot of your sourcing at retail and thrift stores, there are 50 different stores detailed in the book I wrote recently, The Ultimate Guide to Savings by Store.Details for each store are laid out step-by-step. One store per chapter.