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Self-Improvement & Hobbies

5 tips to saving money while shopping

Useful tips for impulsive shoppers
ST701 Editorial Team - May 15, 2014
By: Cheryl Mah
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5 tips to saving money while shopping

The annual Great Singapore Sale is almost here. With fabulous items and huge discounts aplenty, you’ll  need a tremendous amount of self-control not to go shopping. Here are 5 tips to shopping smarter (and saving money):

1. Don’t buy it just because it’s on sale
Many times we buy something because it’s cheap and don’t think about whether we need it. If you’re an impulsive shopper, you’ll tend to buy too many items you don’t need and that will simply be wasting money.

2. Buy it if you need it, but not when you have to spend extra money
On the other hand, if you catch sight of that a gorgeous cocktail dress and think you could wear it to a wedding – think again and ask yourself questions like “How often will I be wearing the dress?”, “Will the dress match any shoes or accessories I currently own?” or “Do I need to buy a new handbag to match the dress?”. If you’d have to spend extra money after buying the dress, perhaps you need to look for another dress that might already match what you own.

3. Check the item thoroughly before you buy it
Just because it’s cheap doesn’t mean you should “throw away” your hard-earned money. Before you pay for the item, check that there are no defects in the item – missing buttons, holes and broken zippers or seams. If the item should be tried on like shoes or clothing, ensure that they fit you well.

4. Take advantage of return policies
Took home your new necklace and realise it doesn’t match any of your clothes? If the store practices a return policy or allows you to make an exchange, take it back within the specified period and return it or change it for something more suitable.

5. Make sure you can afford it
If you have a credit card, use it only if there is a discount tagged to it for the item you are purchasing. It is better to spend within your means than to put all your purchases on credit and end up owing the bank more than you can afford. If you have a debit card, charge your items to it instead so that the amount is deducted from money you already have. Better still, withdraw a certain amount of cash and set that as your shopping budget and stick to it. Once you’ve finished spending the cash, you’re not allowed to spend anymore.

Some say that shopping is therapeutic. While retail therapy does make us feel better sometimes, it is important that we do not overdo the shopping and end up wasting our hard-earned money. Try out these tips and save more money for a rainy day!

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