How to price compare

If we were to get the best deal for everything we buy, it's estimated that we could save an average of 25%.  Price comparing may take a little effort, but it pays dividends. This article looks at some of the most popular price-comparison tools for shopping on the web as well as some useful tips for finding the best prices on the high-street.

Net a bargain online

Price comparison websites have been popping up all over the place lately. These websites are free to use and they work by comparing prices of multiple retailers. They earn their money by referring you on to the website from which you ultimately make your purchase. 

These websites allow you to compare prices for virtually anything from car insurance to video games, and are incredibly easy to use: they work in very much the same way as a search engine like Google or Yahoo.

Popular price comparison websites include:

• Comparethemarket.com
• Moneysupermarket.com
• Mysupermarket.co.uk
• Pricerunner.co.uk
• Kelkoo.co.uk

Some of these websites provide a wide range of price-comparison options whereas others are designed exclusively for comparing particular types of products such as credit cards or supermarket groceries. 

Be warned that the search results are not always 100% accurate. There may be differences in the price or the product itself (for example, a search for The Sims 3 may link to a guide-book for the game rather than the game itself) so it is essential to double-check the necessary details with your chosen retailer.

Some retailers are exclusive to certain comparison websites, and some retailers have opted out completely. This means that certain retailers may not appear on price comparison websites even if they in-fact offer the cheapest prices. For this reason, it is always worth carrying out individual checks on retailers that you don't see listed in your price comparison search.

High-street saving

Following the recession, the high-street has become a war zone of competition between retailers. For any given product, there are likely to be at least two or three suppliers available for you to choose from along a half-mile stretch. Sometimes to get the best deals you will have to do a little legwork (literally) and check what each store has to offer before committing.

Some stores will be amicable to price-matching. Usually this is restricted to a certain distance from the store in question and excludes internet pricing; however, if you have seen a price cheaper elsewhere (even online), and can prove it, it doesn't hurt to challenge the sticker-price and ask if the store is prepared to compete. 

If you're wanting to try your hand at haggling, the best time to attempt it will be near the end of each calendar month: most stores are particularly desperate at this time to meet and exceed their sales targets.