What if you had to buy American?

This article was originally published by MSN Money on Thursday, May 12, 2011.

It might be supremely patriotic to stop purchasing imports, but the consequences for US consumers and the economy would be devastating.

By Katherine Reynolds Lewis

Legions of patriotic Americans look for "made in USA" stickers before buying products, out of a desire to support the country's economy.

But what if we all were restricted to purchasing only those goods that were made in America?

Our homes would be stripped virtually bare of telephones, televisions, toasters and other electronics, and many of our favorite foods and toys would be gone, too. Say goodbye to your coffee or tea, and forget about slicing bananas into your breakfast cereal -- all three would become prohibitively expensive if we relied on only Hawaii to grow tropical crops.

We'd have to trash our beloved Apple products because the iPod, iPad and MacBook aren't made in the U.S. Gasoline would double or triple in price, given that we now import more than 60% of our oil. And you couldn't propose to your true love with a diamond ring: There are no working diamond mines in the U.S.

Moreover, a complete end to imports would actually hurt the U.S. economy, because consumers and domestic companies would lose access to cheap goods. Trade protections, whether through tariffs or quotas, cost the economy roughly $2 for every $1 in additional profit for domestic producers, said Mark Perry, an economics professor at the University of Michigan-Flint and a visiting scholar at the American Enterprise Institute, a conservative think tank.

"If we restricted trade to just the 50 states, what would happen immediately -- and would increase over time -- would be a huge reduction in our standard of living, because we wouldn't have access to the cheap goods we get from other countries," Perry said. "We also wouldn't have any export markets, so companies like Caterpillar and Microsoft would have a huge reduction in sales and workforce." (Microsoft is the publisher of MSN Money.)

Use the Web to save $8,000 a year

This article was originally published by MSN Money on Monday, Jan. 31, 2011.

Smart shoppers use the Internet to save a bundle through comparison sites, coupons and online services. Just be sure you're not wasting time and money to save a buck.

By Katherine Reynolds Lewis

Savvy Internet users can save nearly $8,000 a year through smarter shopping, online discounts and Web-based services such as bill paying, according to a report compiled for the Internet Innovation Alliance.

Gale Swanson, 53, can attest to the value of an Internet connection. Since her children gave her a computer in 2009, her Web usage has saved her more than $5,000 on gifts, entertainment, food and travel purchased through the Internet -- and ended her weekly trips to Big Lots and Wal-Mart.

"Because I'm on a fixed income and a budget, I have to make sure I don't spend my money frivolously," said Swanson, a retired office manager in Van Nuys, Calif. "The ease of being able to find things that are discounted is great."

Haggle anywhere -- even at Kmart

This article was originally published by Msn.com on Tuesday, June 9, 2009.

Retail prices are a lot more negotiable than you might think. But before you go out and try to play hardball to get a discount, learn the rules of the game.

By Katherine Reynolds Lewis

You see an item you want in your local big-box store. The price seems too high. You ask for a discount -- and you get it!

This scenario may seem far-fetched, but expert negotiators say it occurs every day in retail outlets across the U.S. With consumers restricting their spending, store owners need every sale they can close, even if it means accepting a smaller profit.

"Retailers, particularly a number of the high-end retailers, are in real trouble given the current recession, and they're willing to bargain," said Joel C. Huber, a marketing professor at Duke University's Fuqua School of Business.

That's not to say it's easy to win unadvertised discounts. The art of the haggle is an intricate dance, and you must know the steps before you venture onto the dance floor.

And you have to be willing to ask.

"The thing people don't understand about the retail industry, especially brick-and-mortar stores, is that prices aren't fixed," said Albert Ko, a co-founder of bargain-hunting site CheapCheapCheap.com. "With the economy, it's all about the numbers and getting goods sold. . . . They're willing to listen and work with you."

Layaway Makes a Comeback

This article was originally published by Msn.com on Wednesday, Nov. 12, 2008.

No credit? No problem! Some businesses are dusting off a budget-friendly strategy familiar to your parents and grandparents. Now you can even get a replacement hip that way.

By Katherine Reynolds Lewis

After falling out of favor when credit was cheap and easy, the layaway is back.

"We have seen a huge increase," said Michael Bilello, the senior vice president of business development for eLayaway, which offers layaway plans for everything from big-screen televisions to hip replacements. "This is something fiscally responsible Americans are going to use."

Kmart even hired Kate Gosselin, a star of the reality television show "Jon & Kate Plus 8," to tout layaway as a sensible way to budget for Christmas while keeping gifts out of the house and safe from children's prying eyes.