Build Wealth Like a Vanderbilt: Part 2

by Kristina on December 26, 2011 · 3 comments

Good Morning DINKS.  Today we are sharing more tips from Anderson Cooper and his money coach Clark Howard on how to save money in our everyday lives.  Anderson Coopers mother is Gloria Vanderbilt, which means that Anderson has grown up in a luxurious life where money was spent without a second thought.  The Vanderbilt Family is known for their socializing, spending, and worldly travels.  Now that Anderson Cooper is older he is trying to learn the value of a dollar and how to save, not spend, his hard earned money.

Clark Howard is a money coach and consumer expert who helps people save more, spend less, and avoid rip-offs.  He is a national radio host and also stars in The Clark Howard Show on HLN. Clark Howard’s book Living Large in Lean Times is currently a Best-Seller.

Check Out These Money Saving Tips from Clark Howard and Anderson Cooper:

Never buy paper towels, toilet paper, plastic wrap, or dish soap, or laundry detergent in a Grocery Store because the mark up is huge.  Grocery Stores make a big profit on non grocery items such as household items and cleaning materials. Buy those items at discount mega stores such as Target, Wal-Mart, Sam’s Club or Costco.

The Medium size is always the best value when buying items such as Peanut Butter and other condiments.  The large size or value size claims to be the best value but the truth is that the large size is made for people who really love that item and they will buy it anyways regardless of the price.

Gas stations have the best value on Soft Drinks. We should never buy Potato Chips at a gas station. They drop their prices on Soft Drinks to lure clients in and hope that they pick up other (overpriced) snacks.

Coupon Savings Tips from Clark Howard and Anderson Cooper:

We should always carry our coupons with us at all times. We never know when we may make an unexpected pit stop.  I don’t know about you but I would be really upset if I had to pay full price for an item when I had a coupon at home.

One of the guests on Anderson Cooper admitted that she saved $50,000 in only 19 months by using coupons when she shops.  If you are not currently a coupon user, don’t worry it’s never too late to start saving.  After calculating her savings the woman estimates that she earns/saves $800 per hour from shopping with coupons.

If you have a favourite store then Clark Howard suggests that we sign up for their email distribution list.  You will receive coupons, exclusive specials, and daily deals directly into your inbox from the regular stores where you shop.

Other Savings Tips from Clark Howard and Anderson Cooper:

The retail store Original Mattress Factory is the best place to buy a new mattress.

We should always buy energy efficient appliances such as air conditioners at the beginning of an off season and end of the hot season because stores will be liquidating their items.

Shop around for Birthday Deals. Restaurants such as Quiznos Subs, Cold Stone Ice Cream and IHOP all give discounts and coupons to customers on their birthday.

Shop Savvy is a website/application that allows you to scan your item and it will display the current prices at different stores.  This way you know where to shop at the cheapest price.

The key to Shopping for a Car is to know where to buy it, not when. Clark Howards advises us to shop on or because we can save thousands of dollars on our car purchase with their instant price guarantee.

Photo by Poly Cart

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{ 2 comments… read them below or add one }

1 Elliott December 26, 2011 at 9:07 am

The Medium size is NOT always the best value. I’ve found quite frequently that the smaller sizes offer a better price per unit. But it’s not just about price per unit. If you only need 6oz, you’re generally better off with an 8oz container vs. the “better priced” 16oz container. Why “save money” and pay more to throw away 10oz?

If you really want to build wealth, learn to do the math. It’ll help you outside the grocery store too.

2 Kristina December 26, 2011 at 10:38 am

Hey Elliott,

Thanks for the helpful money saving tip. I am sure that money coach Calrk Howard will be happy to hear it. Happy Holidays!

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