- June 17, 2020
- Posted by: Houssam Hawwa
- Category: Blog
tips to reduce your purchase invoice
Do you suffer from the random shopping problem in a big way? Did you know that spending money wisely will enable you to make the best use of your money? Many are not planning to shop properly, which results in cash being spent out of place, as well as unnecessary acquisition of necessities. Smart shopping is what takes into account the principle of healthy shopping on the one hand and within the budget specified on the other hand.
11 tips on smart shopping
Below we provide 11 tips for adopting a sound spending method to reduce your expenses while shopping in major areas, which will enable you to save money by more than 20%.
- Plan your purchases in advance.
The rush to make instant buying decisions will inflate your expenses more than expected. One of the smartest shopping signs is going to the supermarket once a week, because your daily presence in the supermarket will double your purchase bill.
Prepare your shopping list when you are calm and relaxed at home. Or get your wife to write to you for the week’s requests and needs, stick to the list as much as you can and make sure you don’t get along with your desires and cravings! What is on the list is what you really need, and otherwise it is not necessary and will eat from your budget.
- Avoid hasty and impulsive buying.
If pre-purchase planning is a good thing, the instant buying decision is very bad. One of the smart shopping skills is avoiding making purchasing decisions for the wrong reasons. And not to visit the shops only for fun. If you buy collectibles because you consider shopping a fun experience, you’ll likely end up spending a lot of money on things you don’t need.
- Try to shop on your own.
Kids, or friends who love shopping, or even friends you like their taste for choosing things might influence you to spend more money. And in the case of taking your children while shopping, especially the young ones, not all of their requests must be fulfilled by purchasing everything that attracts their attention to train them on smart shopping, respect the priorities and choose the best alternatives.
- Pay your full dues and pay in cash.
Credit cards increase your expenses for two reasons: First, you have a greater amount of money to spend, and second, because you do not see any real money being transferred between hands, do not feel the pain of spending money and getting out of your pocket. Not paying your bill in cash makes it very difficult to think how much money you’ve spent. Do not carry more money than you need. If you don’t have the extra money, you won’t be able to spend it simply. Smart shopping in this section is to withdraw your weekly budget from the ATM once a week instead of filling your wallet with money whenever you find it empty.
- Don’t make advertising ads fool you.
External influences are a significant factor that influences your spending of your money. Be careful and pay close attention to the reasons why you are attracted to a particular product. Do not buy anything based on ads only. It doesn’t matter whether the ad is on TV or on the outside of the product, always treat ads with suspicion and mistrust. The ads are designed to get you to buy and spend money.
- Do not go to the market when you are hungry
Almost all of us have done this! Do not go to the market when you are hungry, because your desire to eat at the time will overwhelm you, and your appetite for purchase will not be able to suppress it. Your cart will suddenly be filled with all the food you don’t need, and most of it will be unhealthy. Do not go shopping and you are hungry, as this will negatively affect your purchasing decisions.
- Take advantage of discounts and retrenchments.
One of the most important principles of smart shopping is to use discount offers to purchase the products you really need. The allure of discounted prices is an easy way to get you to buy products you don’t need.
But beware that you only buy items because there is a discount on them! The discounts and retrenchment vouchers are great for the products you’ve already decided to buy, but buying any product because it has a 50% discount banner won’t save you money.
- Do not be an easy catch for advertising installments.
Do not buy consuming items except paid ones, and stay away from the hell of installments. Installment (such as the discount method) is one of the methods that companies have devised to increase their sales and profits. In order not to get entangled by tempting installments and buy what you do not really need, get yourself used if you decide to buy something to provide it until its value is complete. You may resort to installments to buy the home, or the car if necessary. Don’t be fooled by the few monthly installments. Calculate the total price you will pay (monthly installment * number of months of installments) to see which option is best for you.
- Know when to spend more money for quality
It makes no sense to buy the most expensive socks brands as they will quickly wear out like any other. While spending more money to buy a couple of high-quality footwear for a brand can be commendable because it will live longer and save you money in the long run. Pay attention here too, and remember that price hike doesn’t always mean quality. Search for the best quality brands instead of assuming that the most expensive option is the best.
- The rule of ten seconds
The 10-second rule on smart shopping can really help you save money. Simply put, the rule means that you have to think 10 seconds to answer yourself to the following questions, and if your answer is “yes” to the entirety, then this is a strong indication that you should avoid spending money on this thing:
Will I use this thing repeatedly? Will I drink all this milk before it spoils? Do I have anything that can replace this? Will this change my life for the better? Will I miss an opportunity to buy this product if I don’t buy it now? Why do I want to buy this item: shall we run from home? Or do I want to buy it as a gift? Or does it not obligate me in the first place? …
- Monitor your spending and track all your expenses.
This will enable you to have an accurate picture of your financial situation. Keep the receipts you get or write your purchases in a journal to keep. Check your bills every month. After tracking your purchases for a period of time, create a monthly (or weekly) limit for each of the categories. Make sure your total budget is less than your income for the set period, and if you have a savings surplus this will be excellent. Classify your purchases into specific categories (food, clothing, entertainment, etc.). Rankings where you spend a large amount of cash (or the monthly expenses that you find very large) can be good targets for saving money.