(TNO) In reality, there has always been a saying that never gets old: “Instead of buying boats and ships, it’s better to eat convenient snacks”, and you will always save money, from buying groceries every day to making big household purchases, if you know and apply some useful saving tips.
 Setting a personal budget and keeping an expense diary is the best way to start saving – Photo: Reuters |
Here is information about some noteworthy money-saving tips for everyone when shopping, compiled from the Money Advice Service – a website specializing in personal finance advice established by the UK Government – and the BBC channel.
Expense Diary
To start saving, the best way is to pay attention to what you spend the most money on. Setting up a personal budget and keeping an expense diary is the best way to start saving.
Balance emotions and needs when shopping
Make a list of things you already have and things you need to buy before you go shopping to estimate the expenses.
This will help you avoid situations of “accidentally” buying expensive items or unintentionally “splurging” on things you don’t need when you can’t control your emotions while shopping.
Be cautious with “special offers”
Manufacturers spend a considerable amount of money researching customers’ psychology, ways to “empty your wallet” with convincing “promotions”. Buying special promotional products like “20,000 – 3 pieces” or “buy 2 get 1 free” seems like a good way to save money, but it’s not always the case. 70% of customers will buy more than planned if there is a discount program.
Therefore, calculate the price again and compare it with the remaining shelf life of the product or your actual needs before choosing to buy discounted items.
Always compare prices
Some stores advertise lower prices than other stores. So, try going around shops if you want to save your daily expenses. Avoid small convenience stores because the prices of items there can be higher.
If you are about to buy a valuable item, compare its price at different places like stores, on the street, on online retail sites… Buying items online is sometimes cheaper, but the drawback is that you don’t get to try them before buying, and sometimes the packaging and shipping fees can be quite high.
Choose outlet stores
Outlet stores are great places to buy many products at a bargain price. Instead of choosing retail stores with a variety of brands in one product line, you can try going to outlet stores – places that only sell one brand or products produced by the same company. Outlet stores offer you many deals even though they sometimes don’t have a new item that you’re looking to buy.
Check reviews before buying
Take a few minutes to read customer reviews and expert reviews of products, especially household and electronics items that you intend to buy. Most online shopping websites have a section for customer reviews to help you choose the most suitable product for your needs and budget.
Subscribe to receive promotion notifications
Many online shopping websites have a feature where they send weekly or monthly emails about promotions to customers. Some stores or restaurants also give vouchers when you subscribe to receive their weekly newsletters or follow their social media pages like Facebook or Twitter.
Take advantage of this to stay up to date with information about your favorite brands and get products at good prices.
Avoid shopping when hungry
According to the experience of many people, especially women, shopping on an empty stomach will make you put too much food in your cart. Therefore, BBC advises you not to go grocery shopping when you’re hungry.
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