Nowadays you can’t really not spend your money. We obviously have basic needs and wants and you can’t avoid spending money. We buy and retailers make money but with that being said you can learn how to be careful with your money. No I don’t mean being cheap where you end up buying things which are poor quality which will barely last you for a year. I mean being really smart with your shopping decisions. So let’s look at some ways at how you can being a smart shopper
Make a Budget
It is so easy to get carried away when you do have cash in hand. It’s an age-old anecdote where people are kings on the day they get their pay check and paupers right the next day. The best thing to do is 70-80% of your budget should be used to fund your spending needs that include all your basics need and wants that includes food, clothing, bills, travelling etc. The remaining 20% should go into a saving account where your money gets interested and grows over time
The world of internet is quite fascinating. It quite easy to get a lot of things on the internet for a much decent price than what you could get at your retail store. For example, you can fulfil your fashion needs at little lies clothing. Online stores like this not only allows you to shop easily but also gives you the bang for your buck.
Know What You’re Buying
We as human beings have wants which always keeps growing. In this never-ending cycle we end up buying and accumulating a lot of material things. Do you really need another watch? Do you really need a big TV? Do you have space to keep our things? Especially when buying big expensive things you have to be absolutely sure if you need it. Otherwise you aren’t just going to end up spending money on purchasing the item but also much more to maintain it.
Don’t Buy Into the Marketing
Always remember things are the most expensive when they are released. iPhones released today will cost way more than 6 months down the line. This is where 90% of the people go wrong. They buy into the hype that they need to own the latest phone especially when it is released and they end up paying a premium price for it. Always make sure you wait for a couple of months buying purchasing such things. Another advantage to wait would be that other people’s reviews on the item will tell you if it’s a right purchase for you or not. That way you know you are getting your money’s worth.
Always Pay In Cash If Possible
With the world of automation and cashless transaction, it is quite difficult to carry cash around. But it’s always best to spend with cash as you only would end up spending what you have. Credit card companies would lure into owning credit cards but then you will end up paying interests on your purchases. As I said before it is quite difficult to carry cash around. In this case the best thing to do would be to get a debit card so you can only spend the amount of money that is there in the bank account. As we evolve the money devalues. Things continue to get expensive. But even in tough times you do not have to give up on your needs and wants. All you have to do is be smart about your spending habits