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I am a homeschooling mother and Certified Public Accountant (CPA) combining my experience and knowledge to help homeschool organizations such as co-ops, support groups, music and sports programs. HomeschoolCPA answers questions from homeschool leaders on many topics such as nonprofit status, liability, paying teachers, tax exempt status and taxes.
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12:10 PM, Apr. 15, 2006
Myth # 3: It was on sale; I saved a lot of money!
(view similar articles on Personal Finance and Taxes)
Third of a five part series on Money Myths that trip up Homeschoolers:
Myth #1: Just a Little More Money Will Solve All My Problems
Myth # 2: I Need...
Here is the next myth: Myth # 3: It was on sale; I saved a lot of money!
Here’s a story:
Mother had decided to trim her household budget wherever possible, so
instead of having a dress dry-cleaned she used Dryel in her dryer.
Proud of her savings, she boasted to her husband, "Just think, Fred, we
are $20.00 richer because I dry-cleaned this at home."
"Good," Fred quickly replied. "Clean it again!"
Truth: Money is not saved unless there is a deposit into the bank!
In the house of the wise are stores of choice food and oil, but a foolish man devours all he has. Prov 21:20
As yourself: Is the sale price a good value?
My daughter was looking at an audio book catalog with deeply discounted
prices. “How can they sell these audio books so cheaply?” she
asked me. “The original price was $500 and they’ll sell it for
$150.”
Perhaps, it never sold at $500 and it’s only worth $150.
Is the $150 a good value?
Tip: If you buy something on sale, put the difference in a savings account. Use the savings for future homeschool needs.
Anyone ever tried that? I'd like to hear how it went.
Paying $500 for an audio book might make you think homeschooling is expensive, but that’s the next myth…
Carol
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My dh used to say that I never could resist a sale. It took me years to reach the point where I could pass up something I didn't have to have just because it was on sale. But for things we need, including food, I almost never buy something unless it is on sale---I stock up during sales so that I rarely have to pay full price.
I'm so glad you stopped by my blog, or I wouldn't have known about yours. I love your series, and look forward to the rest of it!
Happy Easter,
Barb
Posted by BarbaraFrank on Apr. 15, 2006 at 9:22 PM
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Sales
