Save Money During The Credit Crunch By Going VIP

Credit crunch, recession, economic slowdown… whatever you want to call it, things are financially getting tough for all of us… but whereas most people are looking to economy products and services to save some cash, I have been going for VIP in an attempt to save money.

I was recently flying from the UK to Spain, and at the airport I decided to go into the VIP lounge for a couple of hours prior to my flight. The cost was 16 pounds ($30).

Now, this may seem like an unnecessary extravagance, but I later realised that it actually may have saved me money compared to the average customer.

Here is a breakdown of what I normally purchase during a standard airport experience:

Note: I have put prices in pounds, to get a dollar conversion, just double the numbers)

PRIOR TO BOARDING THE AEROPLANE (average time = 2 hours)

•    x1 newspaper & x1 magazine (total cost 3 pounds)
•    x2 drinks in the waiting area (total cost 5 pounds)
•    x1 snack in the waiting area (total cost 4 pounds)
•    x1 wifi pass for 45 mins Internet access (total cost 5 pounds)

ON THE PLANE (average time 2 hours 30 mins)

•    x1 hot beverage (total cost 2 pounds fifty pence)
•    x2 snacks (total cost 3 pounds)

Overall combined cost = 22.50 pounds

These prices were actual prices from my airport, and I have seen them higher at other airports.

Now, let’s rewind a few hours and remember that for 16 pounds I could get into the VIP lounge of almost any major airport on the planet… even with an economy ticket.

That’s right… I recently learned that you can also pay to get in, regardless of your flight class.
In fact, the cost of entry was 16 pounds, which is 6.50 less than what I would normally spend on average.

Here is where it gets clever… as well as getting the first class comfort of leather seats, no kids running around, no waiting in line etc…. you also get free drinks, Internet connection, newspapers and snacks in the airport VIP lounges.

Everything on the list (and more) can be obtained free of charge in a VIP lounge… so all you need to do is get your drinks, wifi, snacks and newspapers from the VIP lounge, and then upon leaving, put a few items in your hand luggage.

I put a few cans of soft drinks, and five packets of snacks in my laptop case, more than enough to keep me going during the flight, and once again, it saved me from having to pay the crazy prices on board the plane.

So my afternoon of luxury and stress-free bliss has actually worked out cheaper than the average person would spend for economy standard items and services.

TIP: You can actually get a yearly pass for approx 65 pounds, making this even cheaper for regular travelers.

My Taxi Experience

Here is another example I found recently…

I got a taxi into the posh part of town with a friend recently, it cost us a whopping 19 pounds ($35+) despite being only a 10 minute journey.

The next day I discovered that there is a taxi deal where you can go to the airport (30 min+ journey) for just 18 pounds.
That’s right, despite being over three times the distance, it is actually cheaper.

Once again, you can save money by going for what would seem the more expensive option.

In this instance, all you do is get the airport taxi deal, and then say you missed your flight, and would they be ok to take you 10 minutes into town instead?

Which taxi driver is going to say no to that? You just saved them 20+ minutes of time and petrol, yet are paying the same amount.

In fact, I am sure you could negotiate down to 15 pounds or less with ease.

The Restaurant Wine List Secret

I have contacts who are leading wine experts, I also have contacts who own bars and restaurants, and they all have shared one industry secret with me…

The highest profit items on a wine list are in the middle.

I will explain…

There is a psychological trick that is exploited by almost every restaurant on the planet. It works on the understanding that when choosing a wine from a wine list, the average person will avoid the cheapest wines (due to not wanting to seem cheap), and they will not be able to afford the most expensive, so they will find a happy medium and over 90% of the time, the wines chosen are from the middle of the wine list.

Savvy restaurant owners know this, and therefore they raise the cost of the wines from the middle of the list.

In fact, the wines with the highest profit margins are almost always found in the middle bracket.

What does this mean for the consumer?

It means you should avoid the middle… either swallow your pride and go for one of the cheaper wines, or pay a little more and go for one of the wines just above the centre. You will get a lot more wine for your money, and at the end of the day, it may be better to pay 30 pounds for a wine worth 27 pounds, than paying 25 pounds for a wine worth 10 pounds.

Summary

It is our instincts to look towards cheaper prices and cheaper options during these hard times, but if anything, this just leaves even greater value to be found in the VIP and higher end. I am writing this from my plane seat, safe in the knowledge that I have been in 5 star comfort with quality food and beverages, and what’s more, I have probably spent less money than the majority of my fellow stressed passengers.

Of course, these scenarios are most likely exceptions, but this is certainly food for thought.

Do you have any strange methods of saving money or getting great value?

Dean