How to save on Big Ticket Items

How to Save on Big-Ticket Items

Buying a house
To keep as much money as possible in your bank account, she recommends negotiating discounts with your Realtor, lender, and settlement company.

"Negotiating in our culture is always a little awkward, but some of these dollar amounts are too big to let embarrassment get in the way," says Leamy. Plus, she says, mortgage professionals are increasingly getting used to it these days.

Used Cars
New cars lose so much of their value in the first few years of ownership that they're not worth purchasing, Leamy says, especially when you can buy a certified used car that will last.
Leamy also recommends bringing cash to the dealership to avoid paying interest on a car loan. "Paying interest on something that is definitely going down in value is a horrendous waste of money," she says.

Keep good credit
Keeping a clean credit report--and high credit score--means you'll pay less for any type of loan you take out, including massive mortgages. That's why Leamy suggests ordering your free credit report once a year through annualcreditreport.com to make sure it is correct. If you're taking out a $250,000 mortgage, for example, a credit score of 785 instead of 635 could potentially save you $87,480 over 30 years, depending on prevailing interest rates.

Stash Groceries
By stockpiling groceries, you'll not only be able to purchase more items when they're on sale and save them for later (just stick meat and bread in the freezer), but you'll also be able to make use of Leamy's other big idea: Skip shopping trips. She says that many people can get by on the food they already have for a week, so why not skip shopping once a month or once a quarter? If you're used to shopping very week and spending $7,500 a year, then skipping the trip once a month could save you $1,800, or 24 percent of your annual grocery bill.