Make Your Weak Dollar Strong

It's no secret we are in a recession. The US dollar is weak, and even the Canadian dollar is stronger. We all feel the hit due to falling values, and it is felt on a larger scale by retailers, suppliers and businesses. We generally don't need to spend money, but we do have basic needs that require money. But what about something you don't need, but want to have? Does the weak dollar force us to bide our time and wait out this recession? I don't think so. It will take some elbow grease and legwork, but it is possible to stretch your dollar as far as possible.

By researching your advantages, I mean taking notice of businesses that engage in competitive pricing more often than usual. To maintain a website can be expensive (due to bandwith costs) as can newspaper advertising. So businesses have to make sure to draw the consumer in and hold our attention so that we will consider them over their competition. If we the consumer takes careful notice, this is a prime opportunity for us to negotiate a price that we can live with, while the retailer still makes its profit. It is easy to go too far, though, so don't go in guns blazing demanding a deal. Respect and decorum still apply.

It seems like it is a no-brainer, but you'd be surprised by how many people forget to make a personal budget to stick to before stepping foot in the store (or giving out the credit card number). This personal budget will be the top amount you are willing to spend on an item. You can choose if this includes tax or not. For instance, I went to buy a digital camcorder and stood firm at not paying more than $400 for it. Incidentally I got a hybrid camcorder worth around $500 for $99.

If you start to feel your resolve weakening towards something more expensive, my advice is to leave the store (or the site) and take time out to reasses your situation. Here's why: if you waffle on how much money you want to spend, salespeople are trained to spot that as an easy sale, which would put them at the advantage. Remember, you are in the driver's seat because these companies have quotas they need to meet and you are helping them with that--not the other way around.

As it turned out, the camcorder I wanted was out of stock. However, the wonderful salesperson offered me the floor model. I was hesitant at first. It wasn't that the floor model wasn't working or good, but I thought that the basic warranty wouldn't apply to it. As it turns out the same warranty applies as a closed box model. Not only that, but because it was already out of the box, the discount was automatic. Some stores even give you a deeper discount if you decide to extend the warranty.

Because of the discount I got, I not only was able to buy accessories and get a great deal on an extended warranty, but I ended up just below my budget of $400 not including tax. So not only did I come out with one item, I got extras as well as a completely satisfying shopping experience.

This is another place where more legwork will be involved. Through an internet search, there are after purchase rebates to be found, even through some store's and manufacturer websites. A recession is something we never want to get used to. I personally look at it as an opportunity to teach myself to make my money more valuable no matter what the financial climate is.