Frugal Tips

Putting a 24 hour waiting period on any optional purchase will help you avoid wasting money.

Stores are good at what they do - making you think you need what they are selling. With lighting, displays, in store demonstrations, they make an item you had not even thought of before in your life seem indispensable.

Television pitchmen are even better. With testimonials, celebrity guests, and the occasional bit of flashy camera work, they make the item they are selling seem like an essential step toward a fulfilling life.

You need to break the spell before spending your hard earned cash. If the item is really useful to many people, it will still be there tomorrow.

Write down the item and the price. If it's on television, write down the toll free number. But don't buy.

Take a day to think it over. More often than you expect, you won't even remember you wanted it by the time the sun comes up. If it does still seem important and desirable, go online and research the product. Try to find consumer reviews and articles from people who have used it. See if the same item is on sale at a lower price via eBay or Craigslist.

If, after research and reflection, you still want it and can afford it, go for it. You will find, however, that a simple cooling off period will save you money and storage space.