My Mom is joining me on the show today? Hello. Welcome back Cash Kid audience! We are so excited every week to see our listener count grow and your involvement in the Cash Kid movement to build the savviest and most educated financial generation ever. I get asked a lot about how people can be a part of the Cash Kid Podcast movement. First, please follow us on one of our social channels at Instagram, Facebook or YouTube. Just search Cash Kid Podcast and start following us. Interact with our content by sharing, liking or commenting. Also, we’ve got merch! Purchasing this merch directly helps us continue to produce this podcast and help market our efforts. And, Join our mailing list. No, we don’t send a lot of emails. Actually, just once a month, but this list is a great way to stay up to date on giveaways and a recap of what we covered on the podcast recently. Alright, let’s jump into today’s discussion. Price comparison shopping. There are always ways parents can be involved in helping their kids learn about finances and I’ve had some instances over the last few months where my parents have stepped in to keep me or my siblings from making a quick purchase to stop and think about it and do some research before buying. One instance is my dad took us fly fishing for the first time back in March. I loved it! And I came home and right away started filling up my cart with brand new fly fishing gear. I wanted to go fly fishing again. My mom, however, was like, “Why are you buying, new gear? Save your money and search trading sites and yard sales for used gear. You’ll be able to spend half the money. You don’t need to buy new, especially at your age.” I knew then I needed to think more about comparing prices and options before I spent my hard-earned money. So, let’s talk about how to get the most bang for your buck! (music interlude) Now, how do you know if you've found the best deal? First, you need to learn the skills of price comparison. This means taking the time to research and compare prices of similar products from different retailers. We can easily do this at home online. Many websites offer price comparison tools that allow you to easily compare prices from different retailers. We use a Chrome extension called “PayPal Honey” that while we shop around online it will bring a pop-up telling us the price comparison difference of this same item across different stories. Then when we go to check-out, it will try out various coupon codes to see if any will work with our purchase. Another is Simplycodes. It’s an app and an extension online to pull up coupon codes and deals. Let’s give a real world example. Let’s say we’re shopping for a new GoTrax Electric Scooter. Let’s first search on Google. You’ll see right away various options from different stores. Our honey and simply codes widgets show up to the side and will tell us what the price difference is between some stores and Honey will actually tell us the price history of this item over time. So, don’t just settle for the first price you see. Another example is this past week my little brother wanted to buy a new snow cone machine. We found one we wanted on Amazon for real cheap. But when we went to check out, the shipping was almost the same price as the item. I then searched around and found…. Cash Kid: Now, I’m going to bring my Mom into this conversation to share a few of her thoughts on price comparison. Welcome to the show, Mom. Mom: Thanks for having me. Cash Kid: What are some skills you were taught or learned around price comparison? Mom: Well, I come from a long line of very frugal women in my life. Until probably my 30s I had what I termed, “Full Price Phobia” which meant I would literally go without something I needed just because I wasn’t willing to pay full price. I’ve grown out of that over the last ten years and we’ll talk more about that later. I can remember though my Mom taking me grocery shopping and it felt like it took forever as we took our time searching through coupons my Mom had clipped to only get those items that were on sale and we had to have a coupon. My grandmother was one of those people who was savvy enough to use coupons and watch sales to go to check out and the store would owe her money. I remember seeing the receipts, it was pretty impressive. Using coupons grocery shopping like that isn’t as big of a thing anymore so it’s been a shift to buying store brand items to save or buying things when it’s buy one get one free and stocking up. You like to do that with gum. The Cash Kid loves gum and if our Publix has it buy one get one free, he asks me to stock up. Buying in bulk at places like Costco and Sam’s Club is a way to save with a lot of house hold items. I’ve done the price comparison on several items of ...
