Spending Smart: I Have a Budget, Now What?
So, in our last “Spending Smart” segment (I guess it’s a segment now, since so many people liked it), I discussed the art of budgeting and the very important first step: setting a budget. It’s really easy to get a lot of stuff when you don’t have a limit. This is why people go into credit card debt. They don’t see money disappearing or their pockets emptying. They just dismiss it as something to consider later. A budget is a way to consider now, and work within that construct in order to achieve a goal. Ok enough about that last segment.
Today I’ll go into the process, almost step by step, as to what I do when I want to buy gear. As much as I love photography as an art, I’m also a gadget and gear person. I accepted that I like stuff, but I do my best to be frugal about it. So this is what I do:
First, unless it’s a brand new product (and even then), I avoid buying new at all costs. So, I browse through the internet for used goods. Note that this is my personal experience. There are a million places to go for everything, but I tend to do very well for what I need. And I go to:
- FredMiranda: They have a Buy&Sell forum that’s excellent. You need to register to buy from that forum (free). They have a topic search so you can quickly scope out if someone’s selling a D300 or a 20D or some SB800’s. You can view sellers ratings, their post count, and see what they post to get a feel for their standing in the community so you can feel secure in your purchase.
- Sportsshooter: Their classified ads section is very good. Membership is not required to purchase, but sellers have the option to sell to other sportsshooter members only. There’s a classified search so it’s easy to quickly find if anyone has your goods.
- Luminous-Landscape: Their For Sale forum has higher end equipment, but you can find some gems here. Search engine means you can add a quick keyword and determine if it’s on the block.
Remember, this is my list. Those who live on another continent may need to do some research. But that’s the goal of this post: Do research. Find out where to go to save money, and SAVE MONEY.
Next up, if I’m looking for new goods and accessories, I accept that I may have to buy new (can’t really buy used gaffer), but I don’t accept having to pay the standard price. I use B&H as a baseline for what going rates are, then try to beat their price. First I:
- Froogle: It’s Google’s search engine for products. Yes, some of the super low prices there are via shady establishments, but that can be checked out at ResellerRatings, a site dedicated to rating online vendors. I sort the Froogle search by lowest price, going down the list til I find a reputable seller. I sometimes check a few vendors at slightly lower prices, especially if there’s free shipping.
I don’t really have any loyalty when it comes to buying most goods. If it’s higher ticket stuff, be sure to check out that ResellerRatings site. If you plan to buy new, consider how to purchase it. Credit card, right, but which? Make sure to get points, reasonable interest rates, and even buyer protection or extended warranties. I like American Express for this reason. I also like that it’s a charge card. You pay the following month, so there’s no interest. This keeps me responsible (somewhat).
Consistently, certain vendors keep popping up on my radar, and they are listed below:
- Newegg: Awesome prices on memory cards. Currently, B&H has an 8gb SD card for $40 p/s. Newegg: $28 p/s.
- MyDigitalDiscount: Competitive memory card prices. Excellent selection of readers, including the Omni (USB, reads older and newer CF cards at high speeds), and even a new Firewire 800 CF card reader.
- Buydig and BeachCamera: I love this place for external drives. Their prices go down all the time, and it’s almost always free shipping. BTW, they’re both the same place, with the same stock. Sometimes you’ll see one has the same product for $5 or 10 cheaper. so check both. How bout a 1TB Western Digital for 199.95. A quick Froogle check tells me that another competitor has it slightly lower priced, but Buydig has free shipping, and their TOTAL price is lower. BTW, B&H has this same drive for 214.95 p/s.
- Amazon: Their prices are usually in the right ballpark, but they have Amazon Prime up their sleeve. Shipping can be expensive on larger quantity or size items. Pay $79, and for a year, anything eligible will be shipped to you express, at no cost. Overnights are 3.99. So let’s say you want to get a 70-200 2.8 IS from B&H. $1574 is fine, but you also pay shipping of 34.50 for 2 day (to my zip code). Prime has it for the same $1574 w/ free super saver, or if you’re Prime, 2 day. 3.99 and it’s at your door the NEXT DAY. B&H wants 57.50 for next day. And your first month of Prime is free. Cancel before the month’s up and you don’t pay the $79 yearly.
You won’t get fire sale prices buying anything new, but over the course of time, free shipping, saving a couple bucks on products, and just in general knowing how to shop, you will see those dividends pay off. Put them all on your business card with the best points or perks, and it pays off even more.
Since I live in the US, this article is definitely more US centric, but I’d love to hear comments on places to buy in Canada, Europe and the rest of the world. I know I have some readers in Australia, and even China. I’d love to know more about how to make the most of your money when purchasing there. Comment or email me with links to vendors and tricks that work in your neck of the woods.