How to Live on Less Money - Take the Next Step

Wholesale prices are the prices that retailers pay when they purchase items from a vendor. For example, if one vendor is selling pants wholesale to a large retailer, like Sears or Target, for $6 each, it's likely you will pay about $20 for these same pair of pants because Sears and Target need to pay the bills and still make a profit. Are you able to pay wholesale? Of course! There are two ways to purchase your electronics for much less than retail. One way is through online auction websites. If you have never competed in an auction, it's not too hard to do. I recently purchased $60 in bidding bucks. For that $60, I won a $50 card to WalMart and two $25 cards to Applebees. So, I came out ahead and I usually do. The following websites sell all types of retail items including clothing, shoes, jewelry, luggage, garden supplies, home improvement tools, furniture and more.

• Ebay: http://www.ebay.com/
• Webstore: http://www.webstore.com/
• ePier: http://www.epier.com/
• Ubid: http://www.ubid.com/
• Online Auction: http://www.onlineauction.com/

But, if auctions are not for you, you can also elect for the second option: buying at online sites that specialize in finding you 25, 40, or 60 percent off the typical retail price. Here's an example of one.

• Overstock: http://www.overstock.com/

Although there are definite savings to be had online, a shopper needs to be as prudent as they would be in real life. If you are spending the same amount as you would at the physical store location and just getting more items shipped to your home, you aren't really saving yourself any money or time. The idea is to get what you need and save the rest of the money for other purposes. It also pays to be a sensible shopper and identify when you aren't getting the deal you might have. The report below highlights areas you may and may not save when shopping online.

Prior to the Great Recession, I used to shop exclusively at Nordstrom's and Macy's but I rarely enter those shops these days. That's because I found a new place to purchase all my clothes by the same designers. If you like the clothes and look of a certain brand name, then try utilizing these same strategies.

• Goodwill
• Facebook thrift-shop pages (an online version of a garage sale)
• Discount stores such as Ross or Marshall's
• Craig's List: click on free or children from the menu

In this way, I recently purchased my son's $60 Vans for $30. I purchased his designer pants at Goodwill for $6 each and I 'made a deal' on Facebook with a seller for designer shirts. By the time I was done, I had spent $50 for about six tops and bottoms and a pair of "cool" shoes. After that purchase, I was able to secure 3 free shirts and some socks for him from Craig's List. I used to easily spend $200-300 every six months getting my son a new wardrobe. Those days are over!

This is not to say you cannot get a good deal at retailers like Macy's or Nordstrom's. You can. I recently purchased a designer summer dress at Macy's for $13. The difference is that when I now go to those stores, I make a beeline to the clearance racks only and I put blinders on when walking through the rest of the store. So, you can still find bargains when shopping at major stores but you do have to look for them. Even Target will sell clearance items for $3-5 an item.

At first, this method may seem more time consuming but actually, it's not. It's just different from what you do now and when you get used to it, you'll find it takes the same amount of time. In addition to saving myself the time parking and navigating the mall, I also saved myself some time at work, where I would have had to work overtime to afford the same items. This allowed me more time with my family: super win-win.

IF YOU MISSED PART ONE, CLICK HERE FOR MORE BUDGET SAVER IDEAS: