Which of the following are considered practical purchasing strategies?

Using coupons and timing purchases represents a practical purchasing strategy because it focuses on maximizing savings and making informed decisions. Coupons are effective tools that provide financial discounts on various products, allowing consumers to purchase items at a lower cost. Timing purchases is equally important, as certain times of the year, such as holiday sales or end-of-season clearances, can offer significant discounts on many products.

By combining these strategies, consumers can take advantage of deals that significantly reduce the overall cost of their purchases, thereby enhancing their financial well-being. This approach encourages careful planning and awareness of sales cycles, which is vital for successful personal finance management.

In contrast, buying at the highest price does not contribute to effective budgeting or financial management. Impulse buying often leads to unplanned purchases that may not fit into a budget, while ignoring product labels can result in a lack of awareness regarding key product information, including ingredients, price per unit, and potential for future savings, which are essential in making informed purchasing decisions.