You call that a clearance? Five steps to saving actual money on markdowns

You know the feeling. From across the store, you see an orange price sticker on top of another price sticker, and your palms get sweaty. You thread your cart carefully through displays and past other shoppers, trying not to appear anxious or walk too quickly, all the time thinking, “Ohmygosh, ohmygosh, clearance stuff!” You can actually feel the adrenaline begin to surge as you find THE bargain of the day.

The thing is, sometimes those haphazard piles of stuff aren't really a bargain, but store managers have figured out that those orange tags and clearance bins are magnets for wannabe savers. If you really want to find the great bargains, it's going to take some detective work and discipline that could pay off, big-time. Follow these magical steps to get your tightwad juices flowing:

1. Find department managers and ask them when the sales are. This is especially true at a grocery store. My favorite store bags up clearance produce every Monday night at 7 p.m. The meat counter does its markdowns Tuesday at 7 a.m., so I shop Tuesday at 8 a.m. (Make sure they're actually good deals – see step 3. And remember, lots of this stuff freezes well!)
2. Ask somewhere where the clearance items are located. Periodically, this changes, so making friends with a certain cashier can get you some “insider” information.

3. 

   Next year's Valentines for the boys.

   Know. Your. Prices. Knowing the regular price of a certain type of item is key to saving green. If there's a basket full of wasabi peas for $3.50 per can, but they're regularly $3.65, I don't call that a clearance. It's a “special treat” food, and with little nutritional value, I'm still not paying that much for it. Gourmet ketchup for $3 a bottle is not a bargain when the regular price for store brand is $1.98.
4. Know your price point. I know I'd buy the entire basket of wasabi peas (Hubs loves 'em) if each can was marked, say, 50 cents. Do not waver on the price points you set for yourself.
5. This could also be Rule No. 1: Do not buy things you wouldn't ordinarily buy. A great deal isn't a great deal if you wouldn't buy it otherwise. I don't need Bump-Its, even when they're marked down from $10 to $1.50. It's a great deal... for somebody else.

I think maybe my favorite step up there is number three, but it's also the one that takes the most time and effort. How do you really get to know your prices on a personal basis? Follow me and let's find out...