How To Be Smart About Spending

Smart spending

Think you are the ultimate shopper? New mom or a seasoned one, chances are that most often, we end up buying things we do not need, or at the wrong outlets. Saving money while shopping for the family can go a long way in increasing your bank balance. So here are a few tips to ensure you get more bang for your buck!

Draft A Budget

Put down on paper, how much you CAN spend. This will give you a perspective on spending, by weighing all your expenses – food, essentials, entertainment, school fees etc. It will also help you prioritize your expenses so you won’t end up spending your electricity bill money on a new pair of shoes!

Make A List And Stick To It

A list of things to buy will help you see what the necessities are, and is also a sure way to stay away from buying unnecessary things. This is very important while grocery shopping. It has been proven that shopping on an empty stomach will make you buy more than you actually need. With a little planning you can make your money and your purchases go a long way.

Substitute Expensive Items

Soaring food prices and commodities can put a strain on your monthly expenditure. This is also the right time to try alternatives. For example, you could switch to a less expensive soap, nappy pads instead of diapers or try that new shop instead of the mall. Less expensive does not necessarily mean lower quality. You never know, you may end up liking the alternative much more than your usual choice – and save a lot of money too!

Use Coupons Wisely

Most often, large stores use coupons to lure customers who are attracted by the discounts, but ultimately end up buying more than they planned to. So frame a mental picture of what to look for, before you step into that sale. If getting a good deal is your main reason for coming here, then stick to it and only buy items that are discounted. Don’t forget to check with the salesperson, before you bill.

Look For Offers And Discounts

Most departmental stores and supermarkets have monthly deals that offer food items and commodities at a discount. These discounts do not compromise on quality, so make good use of it.

Pay Cash

That’s an excellent way to keep a tab on your spending. In fact, you can save a lot of money by following a cash-only purchase plan. Here the golden rule is: If you can’t afford it in cash, you can’t buy it.

Avoid The Mall

Shopping malls are designed to make you linger and expose you to a variety of items. It is easy to lose focus while you meander through the brightly lit halls. Instead, shop at a specialty store – chances are that it could turn out to be a lot cheaper and you can easily find exactly what you’re looking for. It also helps you stay focused and you will not end up buying things just because they are cheap – while you do not actually need them!

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