January 25, 2014 at 7:18 pm , by Nick Shell
3 years, 2 months.
To say we are a frugal family is an understatement. While some might consider the term “penny pincher” as an insult, I would take that as a compliment.
For the fact we don’t have smart phones or cable/satellite TV, it sets us apart from mainstream America. I realize that.
It means we’re a bit removed from modern technology and entertainment; and to a degree, we’re a bit removed from society, as well.
But on the flip side, we get to put that money in savings each month; which will help with down payment for the house we plan to buy later this year…
I actually consider being frugal as one of my hobbies. I know I’ve mentioned it before, but Mommy and I worked our way out of nearly $60,000 of debt and become debt-free last summer. There’s no way our perspective on money can or will ever be the same.
So I’m always looking for tricks that will help us save money. One example is knowing when not to buy retail items; and more importantly, the best time to do so.
My full-time job is in the HR side of freight logistics for a transportation company. Yeah, I know that sounds pretty random, but it’s a real thing; and it’s the main way I contribute to our family’s income.
I know that the next-to-the-last Tuesday of the month, until the first Monday of the next calendar month, is the best time for people to buy stuff cheap. I see it happen every month at my job; enough so that I predict logistics decisions based on that concept.
During that two week period, stores drop their prices in an effort to move the product out before the new month begins, which helps them avoid having to pay taxes on the merchandise they don’t sell by the end of the month.
That is why yesterday, our family met up at Old Navy after work and school. “Good Freight Tuesday,” as I call it, was just a couple of days ago. This is the best time of the month to buy retail products.
So we did.
We found the best items on clearance; as the store wants the “old stuff” off the racks to make room for the new stuff for next month, which begins next week.
Here’s how I look at it. I don’t want to be the sucker who pays full price for anything… ever.
One way I can accomplish my goal is to only shop for merchandise once the next-to-the-last Tuesday of the month occurs.
(I also recognize the importance of shopping for seasonal and holiday items after the season or holiday is over, or coming to an end.)
And just as important, I avoid doing any shopping, other than food and gas, during the first two weeks of the month, when stores are in no hurry to clear their shelves.
While we’re not eager to buy a new car, I will keep this in mind the next time we do; hopefully years from now.
If at a dealership, we will go during the last two weeks of the month, when I predict the salesman will be more desperate to meet his sales quota.
I feel that money management lessons are one of the best gifts I can hand down to you to eventually prepare you to adulthood, as the book Rich Dad, Poor Dad teaches.
So stick this lesson in collection: Don’t buy stuff until the next-to-the-last Tuesday of the month.