Who doesn’t want to save some extra cash? You could be saving up for your dream trip or building a savings account for an emergency or trying to meet your financial goals Small changes in your spending habits could have a huge impact. The greatest benefit? You don’t need to compromise on the things you cherish or sacrifice the quality of. With just a few easy strategies that you can shop smarter and see your savings increase. Let’s take a look at some simple strategies to help you get the most money from your spending!
1. Make a Shopping List and Stick to It
Purchases on impulse aren’t always obvious particularly when you are browsing aisles or browsing online stores. Before leaving (or pressing “add to cart”) make sure to make a shopping list. If it’s for groceries, or a new outfit, making a list helps you stay in check and helps avoid unnecessary purchases.
Pro Tip: If your heart is enticed by a product that isn’t in your shopping list, give yourself the time to consider it. The temptation to purchase will go away!
2. Shop During Sales and Clearance Events
The timing is crucial when it comes to getting amazing bargains. Keep an eye out for sales during the holidays, seasonal events, and the end of season clearance sales. Shop during these times could allow you to get huge savings on products that you had planned to buy regardless. A friendly reminder: Don’t purchase anything just because it’s available for sale. Consider if you actually need or be using.
3. Use Coupons and Promo Codes
There’s no need to worry about clipping coupons on paper (though they’re still useful!). Today, websites and apps help you find deals faster than ever. Before checking out online or in-store, do a quick search for promo codes or digital coupons. Apps such as Honey, Rakuten, and RetailMeNot will help you save without much effort.
Bonus Tip: Some shops offer discounts when you sign to their email newsletters. Although this could result in more emails, it’s well worth it if you can score 10% to 20% off the first purchase!
4. Buy in Bulk (When It Makes Sense)
The bulk buying option is a great option for things that aren’t perishable, such as pasta, paper towels, or toiletries. Warehouse stores such as Costco and Sam’s Club often offer lower cost per unit if you buy in greater quantities. But be aware of food items that are perishable. Buying too much could result in waste if the items expire before using them.
5. Compare Prices Before You Buy
A little bit of research can go far! Before buying make sure you look at prices from different stores. A lot of stores have price-matching policies. Don’t be afraid to inquire if they will match a competitor’s price.
Online Tip: Use online tools such as Google Shopping or price comparison apps to search for the best deals without ever leaving your sofa.
6. Embrace Generic Brands
The cost of loyalty to a brand can be costly! Most generic and store-brand products are comparable to their brand name counterparts, and often less expensive. From staples in the pantry like canned goods and cereal to prescription medications available over the counter, experimenting with generic products can result in substantial savings over the course of time.
7. Plan Meals and Avoid Food Waste
Planning your meals isn’t just good to stay organized, but it’s also a great method to save money. When you plan your week’s meals it is possible to create an organized shopping list and stop buying things you don’t really need. In addition, you’ll cut down on food waste and save money while improving the environment!
Pro Tip: Love leftovers! Find a creative way to recycle the dinner you had last night into the lunch of today.
8. Shop Out of Season
When it comes to clothes as well as holiday decor or even furniture for the outdoor shopping outside of the season can be a game changer. For instance, you can buy winter coats in the spring, or swimming suits in fall as retailers are working to sell off their inventory. You’ll find the same high-quality products at less than.
9. Pay Attention to Unit Prices
Sometimes, the larger package may not be the best deal! Look at the price per unit (usually displayed on the shelf label) to determine how much you’re paying per kilogram, ounce, or other item. This simple step can assist you in determining the best price.
10. Set a Budget
Although this might seem obvious, having a precise budget is crucial for savvy shopping. Make a decision ahead of time about the amount you’re willing to spend, and then stick to the budget. Apps such as Mint as well as YNAB (You Need a Budget) can help you monitor your expenditure and keep track of your financial objectives.
11. Sleep on Big Purchases
If you are buying a larger amount, give yourself time to consider your options before you pull the trigger. A wait of 24 to 48 hours can help you decide if that you actually need or an impulse purchase. Sometimes, taking a step back from the rush of the moment could help you avoid buyer’s remorse and help you save money!
12. Don’t Shop When You’re Hungry or Emotional
Have you ever gone shopping with a full stomach? All those snacks and desserts are now tempting! Similar to emotional shopping, whether out of stress, boredom, or excitement can lead to excessive spending. Make sure you shop when you’re in a calm and clear state of mind.
13. Use Cashback and Rewards Programs
Make use of cashback credit cards, or reward programs for stores to earn points or money on purchases that you would make otherwise. Make sure you pay the balance on your credit card each month in full, to avoid interest fees!
14. Declutter Before Shopping
Before purchasing a new item take a look at what you have in your home. Cleaning out your closet, pantry cabinets or bathroom cupboards could uncover items you didn’t know about, saving you from purchasing duplicates.
15. Practice Gratitude for What You Have
One of the easiest ways to cut back on spending is to be grateful for the things you already have. Consider the wonderful things that are in your life, and remember that having more “stuff” doesn’t always equal more happiness.
When you implement these simple shopping habits, you’ll not just improve your savings but you’ll also feel more in charge of your money. Be aware that every tiny action adds up and before you realize it, your savings will be transformed into something important.