Every financially responsible adult knows that if we shop smart, we’ll save a lot of money. Do you want to become a smart shopper? Read on.
Shopping is something that everyone does every now and then. And every time we are out shopping, we end up spending a lot of money too. Most of us have no clue about how to shop wisely and we usually end up spending more than we can actually afford. After all, smart shopping skills aren’t something that we are born with. Right?
But did you know that you could acquire smart shopping skills easily? Every financially responsible adult knows that if we shop smart, we will be able to save a lot of money. To help you become a savvy shopper, here are some tips and tricks:
The Good Old Budgeting
Shopping is addictive and you can literally blow up all your cash on stuff that you really don’t need. Most of the spending happens because of the rash decisions that we make (also referred to as the impulse buys). So, how do you curb this rash expenditure? Simple! You budget. Budgeting can do wonders when it comes to stopping you from spending the extra bucks. But, you’ve got to stick to your budget. No cheating!
Rather than going shopping on whim, it is better to plan ahead. This will help you create a concrete budget before you go on your shopping spree. And if you exceed your budget, then it simply means that you don’t need all the stuff that you picked. So, let go off the ones that you really don’t need at that moment. Cool?
Additional Reading: How Budgeting Can Transform Your Financial Life
Make A List Of The Stuff You Have To Purchase
Though this is not feasible when you are going shopping for clothes and shoes, you must apply it when you are going to the supermarket. You should make it a habit to make a list of things that you need before you leave your house. This will ensure that you don’t splurge on unnecessary stuff while at the supermarket.
If you are tempted to buy something that is not in your list, take some time and ask yourself whether you really need that thing. If you don’t, then stay away from purchasing it. It all boils down to a little bit of discipline.
Also, if you are planning a supermarket trip, please don’t go on an empty stomach. The problem is that when you are hungry, things seem more appealing than they actually are. And you’ll end up overspending on unnecessary stuff (which of course, you’ll regret later!).
Making A Large Purchase? Use Your Credit Card
There are a lot of people out there who’ll tell you to stay away from a Credit Card. And it holds true, especially if you are an irresponsible user. Credit Cards can wreak havoc in your life if you don’t use them wisely.
Additional Reading: Drama Lama’s Credit Card Hungama
Despite all the negativity glooming around it, these plastic buddies are perfect for making large purchases. Wondering why? The rewards that your Credit Cards offer. You can save big – cashback, gift cards, airline miles and a whole lot more when using your card to make your big purchases.
Cash Is King
Yes, your Credit Card is perfect for making the large purchases. We said that above. But, it should be avoided for all other purchases. Stick to cash if you want to spend less and save more. Wondering why? We can give you two reasons. Firstly, with a limited amount of cash in hand, you’ll not be able to buy everything that appeals to you. But, with a Credit Card, all it takes is a swipe. And secondly, it is rather unpleasant to see your wallet getting thinner as cash flows out of it. Don’t you agree?
Buyer’s Remorse Is A Thing
Ever experienced a sinking feeling in the bottom of your stomach as your drive away from the store after making a purchase? That feeling which makes you feel guilty and regret having bought whatever it is that you bought. So, how can you avoid buyer’s remorse? Research, it is!
Do your research before you buy anything that involves a lot of cash flowing out of your pocket. Imagine that you are at your favourite electronics shop and you totally fell in love with the latest smartphone. You really want to buy it but hold on. Instead, go home and do your research. Is the phone really worth it? Is there a better, more budget-friendly option? Do you really need a new phone? Isn’t your present one good enough?
Read reviews about the product. Compare between the other options available in the market. Look for better deals online if you really want to buy it. And then make the purchase. A little bit of research can help you make the right choice and avoid buyer’s remorse.
Stay Away From The Salesperson
These guys are trained to lure you to buy stuff and thereby extracting your money in the process. Well, they are just doing their job. But they do have the knack of making you fall for their sweet talks. There is no harm in talking to them. Rather ask them as many questions as you want. But don’t fall for their tricks. Instead, you can tell them that you’ll come some other day and get out of the store. Go home, think about it and if you still feel like buying it the next day, then go ahead with the purchase.
Bonus Read: 5 Ways To Save While You Spend
Do you know of any other tricks that can make anyone a smart shopper? Let us know in the comments section below!