|Take control of your shopping habits to avoid digging deep into the money bank|
Ever noticed how often you find yourself picking up an item you didn’t know you wanted just because it’s on sale? You’re not alone. Almost half of all Aussies surveyed (41%) admitted to buying with their heart rather than their head in the latest Choosi survey. Sometimes that discount price or last minute deal is just too hot to ignore. Or so it seems. Retail specials like ‘two for one’ or ‘50% off’ can look good at first but if you find yourself coming home with outdated items or a strong feeling of buyer’s remorse then it’s time to act.
Solution – Don’t go shopping without a set plan. Wandering around the supermarket without a goal in mind is a great way to get caught up in sales so only go to a store with a specific goal in mind. Try the 30-day rule too. If something catches your eye, then write it on a list and stick it on the fridge. Once 30 days has passed you can buy the item if you still want it. You’ll find a lot of those sale items that looked so good at the time aren’t what you wanted after all.
When you’re at the Grocery Store
There’s nothing wrong with a little treat now and then, when you’re a busy Mum you deserve to feel good so go ahead and spoil yourself. But if you find yourself shopping on an empty stomach and coming home with things you don’t need, there are ways to curb your spending.
Solution – Create a list before you go to the supermarket. Match it to your budget so you know where your money is going. Avoid shopping during meal times and always eat before you go so your head can overrule your stomach. It sounds simple but try leaving the kids at home too. It’s tough to stick to your list with a little voice nagging you for treats. Compare prices before you load up your cart and stay strong at the register to avoid any last minute impulse buys.
When you’re with the Kids
This is one of those impulse buys that slips under the radar because bringing your kids a smile feels so good. Large and expensive toys may seem like a great idea at the time but as kids mature and age they can soon become outdated. Buying for the little ones also happens on a small scale which makes it difficult to reign in. With the latest smartphone games offering upgrades and unlocks for a very small fee you can sink some serious cash into them on behalf of the little ones.
Solution – Start by considering the longevity of a potential toy. Even a great price won’t make up for your little ones moving on and wanting something else down the line. Try using the experience as a teaching tool. Giving your kids an allowance and showing them the value of choosing something with help the both of you to make better buying decisions over time.
Taking a break from the daily grind is something we all look forward to, but if your family holidays are leaving you needlessly out of pocket, you will come home from the vacation stressed about your finances. Using a credit card on holidays seems convenient but if you’re incurring extra fees or not on top of your budget you’ll come home to a major headache.
Solution – Planning a budget before you go will let you stay on top of your holiday finances. Try taking cash with you and avoid using plastic to pay as you go. If you do need to bring the credit card, consider adding a credit limit to avoid overspending. If you’re a part of the 50% of Australians who overspend on holidays, consider designated ‘discount days’ on your getaway. Use these to look for cheap or no cost activities, because the best things in life are free!
Spending less on needless purchases and saving more money for the things you and your family deserve won’t happen overnight. But by planning your purchases in advance and by spending within your means you’ll soon make impulse buying a thing of the past.