How to Save at Wal-Mart -- or Anywhere Else

Shopping for a good price rather than purchasing items at the most convenient location can save you thousands of dollars a year.

That is Wal-Mart's(WMT Quote) message in its new slogan: "Save Money. Live Better." Research by Wal-Mart consultant Global Insight indicates that the retailer saves the average U.S. family $2,500 a year, an increase of $171, or 7.3%, from an estimated $2,329 that Wal-Mart saved families in a 2004 survey.

Savings at Wal-Mart stores -- or any other retailer -- can be found in a number of places, as long as you're willing to commit the time to find them. Here are some simple steps you can take to save even more money when shopping:

Check competitive ads: Before you head to the store, check out all the weekly advertisements and see which stores have the best prices on the items you need to buy. Most Wal-Mart stores will match prices in the advertisements of any of their competitors. You will need to ask the Wal-Mart manager at your local store to confirm if they do match prices. If they do, you can take the weekly ads in with you and then you will be guaranteed not only to get Wal-Mart's best price, but the best price for the item advertised in your city.

Gift cards: If you know that you will be shopping regularly at Wal-Mart, then you can save a few extra percentage points on your goods by purchasing gift cards on the secondary market. Gift cards are sold at a discount on sites like eBay, because the person who received them wants cash instead of store credit. If you check for gift cards being sold on the secondary market on a regular basis, you should be able to knock an additional 5% off the cost of your purchases.