Have you ever had the experience of going on a shopping trip and buying a lot of things that you never intended to? 3 easy money saving tips for Shopaholics!
We are all guilty of impulse at some point in life but when faced with attractive products and convincing marketing strategies, the practical side of our mind is taken over by our emotional side. We explore how we can distinguish needs from wants and yet be fulfilled after a day of retail therapy.
Budgeting
It would be a good idea to get into shopping with a budget. With the help of the internet, the cost of items are highly comparable and assessable. To be on the safe side, you may want a small “grace amount”. If you do not spend this amount at the end, you may instead use it fulfil a little luxury such as your favourite drink or a massage.
When shopping online, you may want to cut down on the number of credit cards used. You may also want to just use the specific card preferred by the merchant and leave all other cards in your wallet or at home if you are going out.
Holding the urge
It is natural for us to have our desires. Convincing marketing strategies and persistent sales people may not spare us a moment to think rationally. Often, it is only after an impulsive purchase that we realise that it was not actually necessary. To avoid this, it is always important to take a moment to think, assess and maybe even compare prices before a purchase decision.
For big ticket items in particular such as luxurious or ornamental accessories or more commonly household items such as electronics and furniture, it is important to assess the need for the item. It would also help to compare the price from various manufacturers and retailers. Once the prices are derived, it would be good to assess the quality and other factors such as delivery lead time before making a purchase decision.
This process would allow for more rational decision making and lesser regrets post purchase. This time would also give you the opportunity to clarify your doubts about the products and ensure that you have as much details as possible before making a purchase decision. You may also negotiate the add-ons that are provided by the various service providers to ensure you get the best deal at a competitive price.
Look out for deals
This applies to any product from groceries to luxury items. Seasonal periods or special events offer attractive deals where you can save a lot. You may also want to check out places that are known for more affordable products or if you don’t mind even second hand items.
You may also look out for options such as rental if you need the item for a short period only. Furniture rental for example is gaining increased popularity in urban living and a highly mobile population. Furniture rental gives you the luxury of choice at any time and reduces shipping costs when you move from place to place.
Check out what you can look out for when shopping for
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