The ability to find the lowest price and best value is as much an art as it is a science. The science comes from the ability to compare store prices, quality, and dollar value.
The art comes from your ability to sniff out the good deals that others pass by without realizing it. The art also comes from your ability to bargain down the price or bargain for unannounced additional services or other perks.
To find out where you stand on the Street-Smart consumption scale, take this short quiz.
1. I use a shopping list before going to the supermarket.
2. I get at least 3 quotes before making a purchase decision.
3. Do I buy at least 25% of the merchandise that is out of season?
4. I am a tag reader most of the time.
5. The larger the quantity I buy, the larger the discount I expect most of the time.
6. The cheapest price is not always the best value.
7. The best way to find out if a business has a complaint against you is to contact the Better Business Bureau.
8. The laws do not protect you if you neglect to protect yourself.
9. I check my credit reports at least once a year.
10. I avoid buying clothes that force me to buy expensive accessories with it in order to look decent.
11. I avoid buying clothes whose styles change from year to year.
12. I check clothing labels for fiber content, care and cleaning instructions before I buy.
13. The easiest and most effective way to reduce car repair costs is through preventative maintenance.
14. Regular oil changes are the most important thing you can do to protect your car’s engine and make it last longer
15. Buying a reliable used car can save you several thousand dollars in depreciation on a new car.
16. Before signing any contract, I make sure I have all promises in writing.
17. I know the importance of negotiation and I do it on high-value items.
18. I save money on insurance by having a higher deductible than the minimum.
19. I avoid buying items with my credit card that I cannot pay for in 30 days or less.
20. I have a monthly budget and I stick to it every month.
21. Every month I review my monthly budget to see how well I did.
22. I avoid trying to keep up with the neighbors.
Now that you are done, review each question and give yourself 1 point for each yes answer. See the chart below to see your results.
15 -21 affirmative answers
You are a smart street consumer.
12-15
You are moving in the right direction towards street smart consumerism. Pay more attention to how you approach your purchases and how you spend your money.
9-12
You are missing out on opportunities to save more money due to lack of information and/or desire to save. Take the time to learn and practice the information available to save money.
5-8
It’s hard to save money if you’ve qualified in this category, but all is not lost. If you pick up the pace now by reading and studying solid information on saving money, you can be on your way to greater savings.
1-5
If you fell into this category, you either have your own software company, you’re a distant cousin of Bill Gates, or you don’t like money. However, if you want more money in your pocket, you must commit to saving money. It doesn’t just happen. Find someone to help you, a mentor, a financial advisor, or one of the many free financial services offered in most cities.
Congratulations for taking the time to take this quiz. Whatever your result or the category you landed in, the purpose of this message was to inform you. Now you can make any corrections midway to get on track or later to save more money.
