It can be tough to stay on top of your finances, especially when it feels like every time you turn around thereâ€™s another bill to pay. But one way to ease the money stress is to create a budget for your shopping. By being mindful of how much youâ€™re spending on non-essential items, you can free up some cash to put towards your savings or other priorities.
Here are a few tips to help you create a thrifty shopping budget:
1. Know your spending triggers.
We all have our weaknesses when it comes to spending money. Maybe you canâ€™t resist a good sale, or you have a hard time saying no to impulse purchases. Whatever your spending triggers are, be aware of them so you can avoid them when youâ€™re trying to stick to a budget.
2. Set a limit.
Before you go shopping, decide how much youâ€™re willing to spend. This will help you stay on track when youâ€™re in the store (or browsing online). Once you reach your limit, put the brakes on your spending.
3. Make a list.
Before you hit the stores, take a few minutes to make a list of the things you need. This will help you stay focused on your purchase goals and resist the urge to buy things you donâ€™t need.
4. Compare prices.
Donâ€™t just buy the first thing you see â€“ take the time to compare prices at different stores before making a purchase. You might be surprised at how much you can save just by doing a little research.
5. Use cash.
If youâ€™re worried about overspending, leave your credit cards at home and only bring cash with you when you go shopping. This way, youâ€™ll be less likely to impulse buy since youâ€™ll only be able to spend what you have on hand.
6. Avoid sales.
It can be tempting to buy things just because theyâ€™re on sale, but resist the urge! If you wouldnâ€™t have bought it at full price, then itâ€™s not really a bargain.
7. Wait it out.
If you see something you really want but itâ€™s not in your budget, wait a few days before buying it. If you still want it after that time, then you can go ahead and make the purchase. But more often than not, youâ€™ll find that you donâ€™t miss the item as much as you thought you would and you can save yourself some money.
Following these tips can help you stick to a thrifty shopping budget and free up some extra cash in your budget for other things. So next time youâ€™re feeling the urge to splurge, remember these tips and youâ€™ll be able to resist the temptation.