Some people think to save for future, but once their salary credited, they can’t control their emotions and over-spend on unnecessary items! This is a very common thing happening among youngsters! Is there any solution for this? Yes there is!
If you follow these simple steps, you can reduce over-spending! To be a smart spender you should-
- Avoid Window Shopping– Some people goes for “Casual Shopping” during week-ends. While doing window shopping they get attracted to some expensive items and purchase them without a second thought!
They can’t differentiate whether it is a “Need” or “Want” at that moment. They get attracted and spend unnecessarily! To be a smart spender, avoid window shopping
2. Leave Your Credit Cards at home– using credit cards have both pros and cons. Credit cards would be useful only in emergencies. Use credit cards only when you didn’t have liquid cash and can able to repay later!
But many people think that using credit cards is a “Social Status”. Swiping credit cards won’t have control over your expenses. Instead if you pay by cash, You feel the “Pain” of losing cash. So from next time onwards, use cash rather than credit cards to experience the difference
3.Prepare a shopping list and don’t buy beyond that– To avoid excessive spending, prepare a wishlist before shopping and stick to the list. Don’t get tempted by “Offers”, only purchase whatever you need for that particular month.
Especially while shopping in big malls, stick to the shopping list and avoid buying unnecessary items, which are not needed at that moment.
4.Don’t Shop as there are Offers– Some people prefer to shop in offers, but they don’t differentiate whether it is a “Need” or “Want”. They just shop as there are offers! In this illusion they purchase more than what they needed.
They start shopping to buy a particular item, but getting attracted by cashbacks, discounts they spend lavishly on 4, 5 items, but their intention is to buy 1 items, this is what over-spending means!
5.Prefer Online Shopping as they save fuel charges– Now-a-days they are numerous online shopping sites. They gives huge discounts when compared to off-line purchases.
Instead of wasting money on petrol, if you prefer online shopping, the delivery executive will handover the package at your door-step which reduces petrol expenses to you!
As petrol prices are increasing day-by-day instead of visiting physical store, prefer online shopping as they bear petrol expenses and delivers your package on-time at your door-step!
6.Compare Online and Offline Prices before shopping– Some items are cheaper in physical stores while some are cheap on online sites. Compare both offline and online prices before shopping
As online shopping sites mandates “Minimum Purchase value” and some “Delivery Charges” for small small items, they are available cheaper at physical stores. There is “No Minimum Order” mandate while shopping at physical stores.
Before shopping consider delivery charges and minimum order and compare both offline and online prices. Then only you should take a final call to buy!
7.Don’t get attracted by “Branded Items”– Some prefer only Branded items to any other items assuming that branded items will lasts long. But they don’t estimate advertising costs, brand ambassador expenses while purchasing Branded items.
Branded firms don’t spend on their own on brand ambassador costs, advertsing expenses, they includes the expense in the product price. This are hidden facts!
Before selecting branded and unbranded item, enquire your friends on the quality of the product and check online reviews of the product.
Only after full satisfaction, decide to purchase whether to uy a branded or unbranded item.
8.Don’t Purchase Groceries in advance- Some people tend to purchase groceries at a glance! Generally shop-keepers keeps grocery items in front rows which are going to expire in few weeks, months. They are offered bulk at wholesale prices.
Without knowing this, the consumer buys bulk items in advance to grab the wholesale discount prices. But after few weeks, groceries loose quality and smell.
This may be experienced by few house-wives. By buying groceries bulk, they would loose their quality! So from now-on-wards purchase groceries whenever you need! They looks fresh and easy to consume! So don’t buy groceries in bulk!