No Competition - it's easier that way

No competition is the way to go if you can. It's what every business person wants.

When you're spending your money, you should consider it a type of business activity, so look to eliminate unnecessary competition if it is possible.

And, if you can't eliminate competition, then you can at least try to neutralize it. Less competition means you might be "the only game in town" and that can help you lower the cost of making a purchase.

A key to being a smart shopper is to reduce the effect of competition when you're trying to make a purchase. If you're in a retail store, the other shoppers are your competitors. Just think of it that way.

If millions of them are willing to buy a soft drink for 89 cents a bottle, don’t expect much of a chance that the retailer will help you save money by lowering the price for you even if you want to buy several cases. Those several cases will be sold in the next few hours by hundreds of your "competitors" that file through the door willing to pay what the retailer is asking.

Let me give you an example of the advantage of no competition when purchasing from a private party.

An ad in the newspaper one Friday advertised a compressor and power tools for sale during a Saturday garage sale. They had a phone number listed, so I called to inquire about the items. My aim was to make a purchase in a noncompetitive environment. In this case, a competitive environment wouldn't have raised the price, but it could have eliminated availability of the items.

After getting a brief description of the items and prices over the phone, it seemed to me that the asking prices were reasonable for the type and quality of products for sale. I asked if the items were available for purchase that day, and they were, so I went to the seller’s house, tested the items and made the purchases.

While loading my purchases into the car, someone else called to inquire about the items. They had the same idea as me – buy the items the day before the sale. I was a smart shopper and slipped in under the wire, buying two nicely cared for tools at a fraction of their original price.

This was all possible because I had no competition. As a smart shopper, I was able to get there ahead of time, save money, and avoid potential competition for the items.

No competition among your peers is good for both buyers and sellers. If you're curious about the effects of competition, then I can shed some light on that from the perspective of buyers as well as sellers.

Done with No Competition, back to Frugal Shopping

There certainly is a broad scope of topics here at Frugal Living Freedom. When you think about it, money permeates so very many activities in our lives, therefore, being frugal encompasses a wide range of interests, from being employed to taking a vacation, and just about everything in between. Enjoy the variety, pick up some new ideas, and start making frugality a part of your signature.

I'm a big proponent of being debt-free, and I mean entirely debt-free - no mortgage payment. It's not essential for financial freedom, but you'll love the feeling once you get there. If you didn't have a rent or mortgage payment, how much more could you do for yourself with your current level of income? I suspect plenty.

If you ever hope to see an abundance of wealth, you need to plug the hole in your boat. The wealthy don't necessarily make lots of money, instead, they know how to hang onto what they make, and make it work for them.