GET THE MOST FOR YOUR MONEY

Many people find the weeks between paying off Christmas bills and assembling the information to prepare their income taxes an opportune time to re-examine their spending habits. A prudent person will seek a way not only to cut expenses, but also to get the most out of whatever they do spend.

How to be a competitive shopper:

Look for sales. Don't settle for paying the full retail price on any item. The difference between an item's retail and sale price varies as much as 50 percent. Shop several stores and wait for periodic sales before purchasing any item.

Buy your item the night before a sale begins. Most stores will apply the sales price to your purchase and you will not only avoid the crowds but also have a full selection of sizes and colors. If the store will not honor the sale price, ask that your selection be set aside so you can purchase it the next day.

Plan your purchases months in advance. By anticipating your needs beforehand, you will be able to wait for sales. This planning eliminates the urgency of making full retail-priced purchases out of need.

Buy good quality lesser-known products instead of high-priced name brands. Research various consumer product ratings before making any large purchases. Once you determine your specific brand then look for the best price.

Use coupons. If you diligently seek and use the many valuable discount coupons available, you can save hundreds of dollars annually. This includes coupons for food, dinners at restaurants, oil changes, and even cruises.

Consider buying slightly damaged or used items. Everything does not have to be new. Used office equipment and used cars; or slightly damaged appliances and furniture can save you dollars - and often the warranties will also apply.

Compare renting instead of buying. If you do not intend to use a product frequently, it may save you money to rent the item instead of purchasing it. All sorts of building and lawn tools are available for rent, as well as decorating and entertaining equipment.

Negotiate prices. The price of almost anything you purchase can be negotiated. Ask to speak to a manager, offer to barter, or ask for a discount for paying cash. Don't be timid.

Participate in discount buyer groups. Consider joining a buyer's club where you can purchase products wholesale. Calculate as part of the cost of an item the membership fee or the time required to serve in some co-op groups.

Use discounts. If you're a member of an automobile association, over-55 group, or carry certain credit cards, you are often eligible for discounts. You have to ask in order to get your discount.

Be willing to barter. Instead of cash, some people will barter with you for services or products. Some communities have barter clubs.

Learn to sacrifice. You don't need everything that you see or think about. Decide to live without the $2 coffee on the way to work, going out to dinner every weekend, or having the newest model sports car. What you save can quickly add up. This sacrifice will not only develop character, but will also enhance your appreciation of your luxuries when you finally obtain them.

C. Gerard LePre has been an insurance executive and personal finance planner for more than 20 years. He founded Faith Financial Ministries, Inc., a nonprofit organization devoted to teaching Christians how to obtain financial freedom.

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