It is very difficult to control your urges to spend when going shopping with peers because they are the most influential people you know. You must realize that you can still earn your peer’s respect, even if you have a clear state of mind to completely control your personal finance, by also helping them to resist peer pressure and the impulse to splurge.
In order to resist the pressure to shop for more than you need, you must find it in yourself to appreciate the things that you do have, and not always lust for those which you do not possess. Everyone can cut back a little on their spending and your friends will appreciate a little help from time to time. Remember that when shopping with peers, you put a pressure on them as much as they do on you. You need to voice out your goals about your personal finance and encourage them to do the same. Learn to enjoy the pleasure of your peers’ company by striving for the same goals when shopping, you’ll not only save money but also earn their respect.
One lesson we all know is that friends and money do not mix.
Here are some great ideas to share with your peers when you go shopping:
1. Make a Shopping List.
By planning and using a shopping list, you can save money while shopping with your peers because your list will help you prevent impulse purchases and ensures you only buy what you really need. If you are tempted to buy something, try to check your list first, there’s a chance that you’ll lose interest when your list reminds you that it is not one of the things that you need.
2. Only Bring the Cash You Need.
If you only have in your pocket a small amount of cash enough to cover all the things in your shopping list, then that is all you will be able to spend. There will be no impulse buying because it causes you to be more careful and thorough when you are spending our money. You can’t really do this with a credit or debit card on hand because it is too easy to not worry about the money until you get the bill.
3. Always Compare Prices.
Just because something is on sale does not mean that it’s cheap. Give shops a quick call to compare prices of the items you’re looking for. Given the high cost of living these days, you can’t be accused of being cheap for looking to browse around to save a few dollars.
4. Buy Fashion Basics and Classics.
It’s best to purchase and spend more money on classic pieces that will stay in style for years to come, rather than trendy pieces that will only last you a few months. Before you buy anything, ask yourself if you can mix and match it with your current wardrobe and then figure how often you’ll actually wear it. By shopping for and selecting certain classic pieces that you can make special every day with layering and accessories, you can have an all purpose, tasteful wardrobe that will suit your fashion needs.
5. Don’t shop when you’re bored.
Sometimes when you have nothing to do, you find the most ridiculous excuse to fill that void by buying something you don’t actually need. Only shop when you have a valid reason; besides, taking the extra time to evaluate merchandise is a good way to escape boredom and save money.
6. Sleep on it first.
You think that really want to buy something? Put it down, leave the store, and buy it tomorrow. Sometimes the excitement of seeing new things and the effect of the beautiful displays makes people think that they need it otherwise. Sleep on it first because chances are, you’ll realize you did not really want it and you’ll be delighted you saved money by skipping that buy.
7. Find great deals online.
Shopping online has become very popular because you can usually find great shopping deals online. Internet Stores have lower prices and better deals on just about anything compared to brick and mortar retail stores because they have lower overhead expenses and they can pass on their savings to the consumers. They are extremely convenient and can offer a large selection of products.
8. Do it yourself.
You can save a lot of money by learning how to do things yourself (DIY to save money). In these times of economic crisis, change your way of thinking and get creative. Instead of rushing out to buy something new, learning to work with what you’ve got.
9. Know your Sales.
Store sales always entice you to spend a little more than they mean to, whether it’s a marketing gimmick or real slashing of prices for product movement. Regardless of the amount that has been cut off from the original price, it is not worth spending you money if you have no use for it. Know what sales are applicable to you and only take advantage of that.
10. Shop Out of Season.
If you’re really interested in saving money while still wearing stylish clothes you need to learn how to shop out of season. This way, you’ll be able to get all the clothes you need for the next season at an amazing discount, and you are not as likely to go over your budget. Remember to buy classic pieces so that it will not look dated by the time you wear it.
11. There is no shame in Haggling.
If you think you’re not really getting the best deals, talk to the salesperson or shop owner and ask if the price can be lowered. Do not haggle if you’re not really interested in the item; simply ask for their best price if you’re just looking around. If don’t get the price you want, just walk away. Try looking for a better deal or just come back when the item goes up on sale.
12. See if Your Peers Will Split It.
If there are any shop that offer ‘buy one take one’ items that you really like, ask your peers if someone is willing to split it with you.
13. Borrow, barter, or buy thrift.
One way to save and stop possessions from accumulating in your life is to not own everything you use. You can swap for things you don’t need for things that you do. Borrow items whenever you can. And if you can’t, consider buying second hand first and you’ll be able to save a significant amount of money.
14. Save Your Receipts.
Sometimes when you buy something at the store and you take it home, you realize that it’s not really what you want. Give yourself a chance to change your mind by getting into a habit of keeping the receipts and tags on until you are sure about the purchase.
15. Give honest opinions.
When you feel like your peers are buying something they don’t really need, don’t encourage them to spend money just so you don’t feel guilty about your own purchases. By doing this, your peers will trust your opinions more and eventually respect your practicality.
Ally is part of the team that manages Home Loan Finder, a free mortgage broker and home loan interest rates comparison service in Australia. Before joining HLF, she was a Media Planner with McCann Worldgroup Philippines, Inc., with award-winning executions, including the Levi’s 501 “Live Unbuttoned” global campaign.