Comparison Shopping for the Best Deals
Whenever I consider buying a big-ticket item, the first thing I do is run it by my list of “usual suspects.” Places like Costco, Amazon, and eBay to name a few. The premise is simple: I’m shopping for the best deal possible – sometimes that’s the lowest price, sometimes it’s fastest shipping, but I want to see what everyone’s offering. Recently, companies like Best Buy have undergone heavy scruitiny becasue they won’t match what the internet is offering. In fact, a recent study suggests more people go to Best Buy to try out products they’re likely to buy at Amazon or another online retailer than people who actually go there to shop!
So, if I shop around for the best deal for sneakers, televisions and books, why not shop around for the best deals when it comes to my financial products as well? Financial review sites like Totally Money exist for the sole purpose of providing unbiased and impartial research into the everyday financial products we use. When was the last time you shopped around for the best interest rate on your credit cards? It’s probably been a while. If you’re like most people you’ll say, “Well, I really like my Discover Card…” or something silly like that. Gimme a break! A credit card is an innanimate object! It doesn’t know whether you like it or another piece of plastic better! The same thing goes for bank rates, life insurance quotes, or home loans. In fact, in some areas, you can even comparison shop cable, internet, and other utility costs!
Ultimately, who you choose to do business with is your decision. The hard part is taking all the emotion out of your decision and make fact-based decisions. If you take time to comparison shop your financial products like you do your commercial goods, you’ll likely save money each and every year.
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