This the the ultimate question. The question of every recovering shopaholic.
I have learned a lot over my years of working, saving and spending. Part of my debt journey is figuring out where to spend my money and how to make my money go further.
There is now loads of content online that you can find about budgeting, saving and debt repayment. I am trying to be creative and think if quick ways to manage your money in a practical way.
One of the ways that I do this is by being more conscious of the things I buy. By more conscious I simply mean carefully assessing whether or not I need an item and whether I am willing to part with my coins in order to purchase something.
Here are 3 things I will do or questions I will ask myself before I make the decision to buy or not to buy:
1. Do I need the item?
So like many others I have a habit of purchasing things for fun or something cool I see while in a store. If it wasn’t planned I will generally try my best not to purchase the item (unless it is something that isn’t readily available or that is in limited supply). It is for this reason that I also generally (unless it is something that is tried and true and does not go on sale often) do not purchase “stock items”. I don’t believe in purchasing a bunch of crap because then you have to figure out storage and sometimes products turn before they are used which is certainly wasteful.
2. Is the item on sale?
It’s really hard, as a shopaholic such as myself, to avoid sales. I am a big sucker for a sale, I often purchase things that I don’t need when there’s a good sale. This habit is dangerous for your wallet and will often leave you with a bunch of crap you don’t need but bought because it was on sale. I try to avoid sales when possible especially when I am not looking for anything in particular.
At the same time, I hate paying full price for things. Sometimes when I want something and I know that the retailer has a history of putting items on sale, I will wait it out. The risk here is that sometimes retailers will discontinue a style/item and then place it on sale. This results in sizes being sold out quickly, if this is the case take advantage especially if you are a common size as you may not see this item again. Just be sure it is something that you want and will not regret.
3. Is this the best price?
Look at other retailers for the lowest price. Before I buy something whether it is in store or online I will always do a quick google search to see whether it is selling for a lower price elsewhere and if so I am less likely to purchase it at that point. This is also a good time to look for discount codes or coupons as well.
Hopefully these three tips are helpful and something that you can integrate in your own shopping protocol. I know this isn’t glamorous but I think that frivolous spending on crap that you don’t need is ever a good idea. Don’t get me wrong I own expensive items that I have contemplated and thought about for sometimes even years before I pulled the trigger and made the purchase. However, small useless and unnecessary items can really add up and be a total money-waster. I would always encourage quality over quantity this is for everything (skincare, makeup and clothing really). So to my fellow recovering shopaholics out there be intentional and smart with your purchases!
