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Tips on Saving Money When Shopping 1. Always make a list of the essentials you need, and stick to them when shopping! It is estimated that people end up buying 40% more than budgeted, thanks to impulse buying. 2. Continued with #1, do not go shopping when you are hungry. This will just make you buy unnecessary food items you really don't need! Go shopping after lunch or something; when you are not hungry. Studies show that people end up buying 10% more on an empty stomach, than on a full well fed stomach. 3. When you want to purchase large sized items example furniture, do it at the end of the year or a furniture store's end of the quarter. Since their salesmen need to meet their sales quota, they will lower prices in order to sell. Take advantage of these lower prices! 4. Instead of going shopping a few times a week, try to make it only once a week (fit many errands into one trip). This helps save gas money as well as time, and furthermore prevents you from impulse buying! 5. If you need an item for only one time (example a hammer to fix your broken bed), try to borrow it from a friend rather than hitting the hardware store for a new hammer. |
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6. Consumers can get very impulse when shopping for clothes. Many end up buying clothes that they will never even wear. Just because it has a "35% discount" tag on it, or just because "its an awesome deal" doesn't mean you will end up wearing it. 7. Avoid shopping at convenience stores. They put on the highest prices on products, that you can get for half the price in wholesale markets! Example when i used to buy Coke from a nearby convenience store, i ended up paying $2.9 per bottle. However if i buy it from a wholesale supermarket, i ended up paying $6 for 4 bottles (comes out to $1.5 per bottle). Smart don't you think? ;) 8. Take a few seconds to read over the receipt produced by the scanner. Although the scanner does add up all the numbers correctly, it could've been that the cashier entered an amount incorrectly, or charged you double for one item! 9. Hint: Don't end up buying the first thing you see on a supermarket shelf. Look up or down the shelves. Why? Because managers have a habit of putting the more expensive items on where most people will see them first, placing less expensive items up or down the shelves. 10. Search for health, kitchen products and beautyware products from your nearest "Dollar Store" You'll probably find these products cheaper there than the more expensive supermarkets. 11. Do a cost comparison on all items with different supermarkets and stores. Even saving 10 cents on a bag of potatoes means a lot! 12. Be wary of the "zero percent financing" deals. This is because if you do not pay back the total amount you purchased before the zero percent financing time limit ends, you'll have to pay the accrued interest from Day 1 of your purchase. For example if you buy a piece of furniture on zero percent financing deals, they'll give you a time limit of how much to pay back and in the amount of time. If you fail to pay it all up, you'll pay accrued interest from day 1! 13. Do not spend a lot of time in the grocery store. |
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Compound interest - why it is bad to cash out your 401(k) plan: Reasons why you should participate in your 401(k) plan: |
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