How To Compare Prices

In a struggling economy, it becomes increasingly important compare prices to get the most "bang for your buck."  In order to do that, you could break out the old economics rule of maximizing utility and such, but there really is no need for that.  In fact, a few simple tips on how to compare prices will make sure you get the best deal on the things you want.

First, pick similar items to compare prices on.  It sounds simple, but this is where problems normally start.  Say you want to buy a plane ticket to Las Vegas, but when you go the travel web site, they give you a list of options, including date of travel, cabin class and even the option of a meal on the flight.  All of the options have varying degrees of importance, but when you are comparing prices with other web sites, you have to choose the exact same options.  A difference in dates, even by just a day, can vastly change the prices you pay from one airline to the next.

Next, when trying to compare prices, get your purchase options itemized to a per unit price.  That means break your box of corn flakes down to the lowest common denominator.  Many grocery stores make these easy by including a per ounce price on the ticket.  When using this price, you will see that the industrial-size box of choco-sugar-puffs may not be as much as a "dollar stretcher" as the human-sized box.   

The most important step in comparing prices is to be ready to not make a sale.  Car salesmen have been notorious for using the age-old line, "Tell me what I have to do to see you drive out today in that car."  It is complete and utter nonsense.  Regardless of the item to be purchased, you cannot allow anyone to hinder your price comparison process, even if you might be a bit slow about it.  Are you going to go on that vacation with the salesman?  Is your job on the line if he doesn't make the quota?  Of course not, so get a copy of the cars vital statistics, like trim options, color, make, model, etc, and get out of there.  Comparison shop! You may very well get a better deal elsewhere. 

Bottom line, it is your money and you should make the most of it.  It is practically your duty to save money by comparing prices whenever and wherever you can.  Just try not to make a fuss over $0.01 per ounce while the hot blonde on aisle 4 is watching.