Archive for the ‘Saving Money’ Category
TIP 8: Buying bulk and in advance
Monday, June 6th, 2011
Here is an example of bulk savings. Lets say you use 1 bar of soap that costs $1 each month. Lets say it is on sale for $.90 so you go out and pay $21.60 for 24 bars saving $2.40. Good going?
Well let’s say you could make 5% interest on that same $21.60 per year. You can see how buying so much soap may not be saving you as much as you thought. Bottom line is you need to think about buying bulk, as doing so ties up your funds. There is a point where buying in bulk is actually more expensive.
Imagine you buy 10 years worth of soap and spend $216.50 for 240 bars. The interest you could earn would be better for you financially than all that soap!
There is an optimum bulk purchase. This means if you buy an optimum amount you will save money over the long run. If you buy too much you will lose. Each case needs its own calculation so you need to do the math. It’s pretty simple. If you buy bulk determine how much you are saving over the life of your inventory. Then deduct the amount you would have made if you had invested the same amount of money in the bank.
All the best,
Andrew Martin
TIP 9 NEXT TIME: Selling stuff you don’t need.
Tags: charity, CommonKindness, giving, online discount codes, printable grocery coupons, saving, savings, soap, support, suying bulk, tip 8
Posted in Saving Money | No Comments »
TIP 6: Make Money Saving Money
Monday, February 21st, 2011
Benjamin Franklin is famous for saying “ a penny saved is a penny earned”. I used to have a business cutting lawns. I would make $10 hour. It was hard work and I really appreciated that $10. My girlfriend at the time was an amazing person and I loved her dearly. She was also very kind and thoughtful. We wanted to go to Jamaica and we both knew we had to work hard to raise the funds. For me it meant 80 hours of hard labor to raise $800. She was smarter. She looked at every possible deal for airfare and hotels and food and instead of working and raising $800 she only had to earn $500. Now that doesn’t seem like a big deal but when she shared her knowledge with me it saved me many hours of hard labor. Never forgot the lesson.
A penny saved is a penny earned.
In addition to saving money I worked the 80 hours anyway and put the money in the bank where it earned interest. While on the vacation on a beach I smiled thinking that not only had I saved all that money (thanks to a smart friend) but the money I saved was making more money in the bank and I was on the beach. Pretty silly story but it is something to remember. Finding lower prices for anything is like making more money working.
Next tip coming soon!
Tags: a penny saved is a penny earned, CommonKindness, coupons, find low prices, make money, make money saving money, save money, save with coupons
Posted in Saving Money | No Comments »
TIP 5 – Happy New Year!
Monday, January 17th, 2011
Week 5 – HAPPY NEW YEAR!
Dear friends,
To start off the new year, we would like to hear from you.
Send us a question that you have in regards to SAVING MONEY.
I look forward to offering further tips over the next weeks that simultaneously provide possible solutions to questions that you may have.
Send your question to tips@commonkindness.com
All the best,
Andrew Martin
Tags: answers, CommonKindness, Help others, questions, save money, solutions, tips
Posted in Saving Money | No Comments »
