Last Updated on December 28, 2020 by HodgePodgeDays
The cost of living is almost constantly going up. It’s not all too surprising that many people are slipping into debt after taking out credit cards and loans to try to maintain their current lifestyle while accommodating for the rising price of pretty much everything around us. The more financially savvy amongst us will avoid this situation, and instead, will attempt to implement minimalism into everything that we do. This is a way of living that involves only purchasing what you need. Not only is this great for your bank account (as you are purchasing less frivolous and unnecessary goods), but it’s positive for the environment (as you minimise your waste production), and brilliant for your aesthetic (minimalist design is really catching on as a fashion statement) too! However, no matter how scrupulous you may be, we live in a consumer society, and you’re going to have to make some purchases on a regular basis to simply get by in life. So, how can we save money when it comes to spending on things that we can’t go without? Not to worry. There are various steps that you can take in order to achieve this! Here are just a few to consider.
Consider Whether You Really Need It
When making any purchase, consider whether you really need it. When you are constantly bombarded by advertisements, it’s easy to get caught up in a hype and become absolutely convinced that you need a particular product and that it is a great investment piece. But in reality, in situations like this, you are likely to be being sold a convenience product or a clever spin on something you already have. Sure, that shiny new smoothie making machine might be able to provide you with your five a day in one fell swoop in the mornings. It may be easy to clean. It could also be used to create delicious soups for the evenings. But guess what. It’s practically the same device as the blender already in your cupboard with a shiny new design and a great salesperson pushing it to you. Before making any purchase, determine whether you actually need whatever it is that you are considering forking out for. This can prevent you from wasting money on unnecessary things.
Give Yourself Time
Avoid making impulse purchases at all costs. You may regret your decision later. Generally speaking, stores and salespeople will attach a sense of urgency to purchasing whatever it may be that they want you to buy. But at the end of the day, there are actually very few products that will sell out immediately if you don’t add them to your basket as soon as you see them. If they do sell out rapidly, chances are that the supplier will restock them quickly, as they will want to make the most profit possible and will consequently act on demand. So, give yourself time to mull every potential purchase over. If you determine that it is something you need or particularly want, you can go back and get it! If you do think something will sell out and want to buy it immediately, check that you can return it should you change your mind. This ensures you definitely have it but can change your mind should you have regrets.
Use Price Comparison Sites
Price comparison sites like this site are the holy grail for financially savvy individuals. Many product developers will use multiple suppliers to sell their goods, even if they have their own flagship store. Different suppliers will charge different sums of money for the exact same item, as they will be attempting to lure buyers in with a better deal. So, before you buy any branded product, check whether you could get it for cheaper somewhere else. Price comparison sites also work well for comparing services. If you are looking for car insurance, house insurance, a new mobile phone provider, or any other service, bear in mind that there are various companies out there who will be vying for your competition and consequently different providers will offer different prices. Price comparison sites will be able to weed out the best offers that will meet your needs.
Wait for Sales
If you’ve seen something that you like, but you’re not willing to fork out the full price for it, wait for a sale. The majority of retailers will hold them at some point or another, and a lot of the time, it’s just a matter of waiting until they have a clear out in order to launch new product lines. There are also some major pre-planned sale dates. Black Friday is probably the biggest and most notable example of this. This is a date where the majority of retailers will offer discounts. If you’re planning on making purchases coming up to Christmas, wait for the Black Friday sale to get the same goods at a reduced cost.
Buy Second Hand
It’s always worth taking a look through online auction sites like eBay, sales apps like Depop, charity stores, vintage stores, and car boot sales when looking for specific products. Buying second hand means you can get a good quality product at a much lower price, as it has already been used. Generally speaking, something already being used isn’t a problem. Feel free to ask the seller if there are any faults and if you find any faults with the product that you haven’t been told about, you can generally return them or get a refund.
These are just a few tips and tricks that can help you to save money on every single purchase you make. Implementing them into your lifestyle can significantly reduce the amount of money that you spend on a daily basis!