Are you a shopaholic…? Ok, don’t think too much about it. But if you spend more than 50% of your monthly earnings shopping, then I am sorry to announce to you that you are a shopaholic. It’s quite a thing that shopaholics can’t save, which proves to be true, because shopping addiction combats the law of nature to save, it is difficult to spend that much and save at the same time.
The thing about being a shopaholic is that you derive satisfaction from shopping, it’s like therapy, it gives you a different kind of excitement, brand new stuff has a different smell that hits different when inhaled, the packaging, the crunchy wrap that may come with your packaging and the butterflies to try something new. Yea I get it, was there myself, still there, but have managed to be a shopaholic and save at the same time and I am pleased to show you how. So here are the top 10 tips to follow.
Save Before You Shop
A lot of people do it the other way around, the shop, and then save their change. But the trick is don’t ever go shopping without putting a penny into your savings. Put some money aside whether to your piggy bank, bank, or investment account.
Bargain shopping never goes out of style, with bargain shopping you can literally go shopping, get new things, fill your bag, and still save some money left. A lot of stores offer discount coupons especially for first-time shoppers, take advantage of them. Most stores go up to 70% off discounts towards the end of a season because they know that buyers would be buying items in preparation for the upcoming season therefore another way to bag a bargain is buying off-season like buying summer clothes during winter and buying winter clothes during summer.
Buy Things You Need
This might be difficult to achieve if you enjoy shopping, shopaholics like me tend to buy our wants even before our needs, like buying a cute shiny sexy heel I just bumped into when I have that bathroom rug that has been needing changing before it trips me to the floor after a shower.
How do you ignore the temptation of buying the things you want and buy your needs? The five top questions you need to ask yourself before you buy that next pair of shiny heels are:
1. Do I have space in my wardrobe?
2. Do I have an alternative item at home that I can use for the occasion that could match up to my need for this item I want to buy?
3. Do I need to drain my account to buy this?
4. What special value will this item I am about to purchase add to me?
5. Ask yourself loudly. Do I really, really need this?
Leave It In The Cart Till Next Morning
Leave it in the shopping cart and think twice. This would apply mostly to online shoppers. I have had moments where I added lots of items in my shopping cart on an online store, got distracted with something, and when I come back to it few hours to days later, I would be like! Hold up, I do not verily need this. Love for shopping is a mood that may be wavy, where you want that so much now, and if you can avoid the temptation for few hours the urge may pass by.
Analyse Pros & Cons Of The Item
This might work if you think about it a bit more. Try not to dive into that love at first sight attraction that mostly comes with seeing and buying new things. Think a bit more, leave that aisle that you have seen that beautiful dress in the boutique, and walk to the next aisle, while walking away think of reasons why you may not be needing that dress.
Remind Yourself Why You Are Saving
If I have no reason or motivation to do something most times I give up halfway. Saving could be a task, but if you set a goal and remind yourself why you are saving then it should motivate you not to spend that cash but rather save towards that goal.
Map Out A Shopping Budget
Set aside a certain amount of money for a particular shopping trip. Possibly, if you use debit cards to shop have two cards where you can load your day shopping money, if you are cash shopping, then leave home with a minimum shopping amount, this way you are not tempted to spend more than your budget for the shopping day.
Invest Instead Of Shopping
Now, this might be for the higher earners but the good news here is that you can still shop and shop and shop till you drop but then here you are not just giving out your money with no returns because you are investing, investing for returns. For example, you can shop and invest in bitcoin, you can shop and invest in real estate.
You Can Get A New Career
If you enjoy shopping you might as well get paid for doing it. Mystery shopping is a job for many out there. You get to shop for other people with their money, derive the joy of shopping for new things, and still get some coin while at it. The organisation, ‘Save The Student’ reported that mystery shoppers have had earnings between £30-40,000 per year.
Quality over quantity any day, especially if you can afford it. The good thing about buying quality products is that they last longer limiting your shopping trips. Also, quality stuff can be re-sold for a cashback on money spent. For example, if you buy a Birkin bag or gold the value appreciates over time and you can always re-sale to get back almost if not more of the money you spent purchasing the item.Follow Me On Social Media