FOUR WAYS TO SAVE YOURSELF FROM THE ONLINE SHOPPING MONSTER
Are you looking for a way to enjoy your purchases without sabotaging your financial goals?
As the weather gets colder, you might consider adding to your winter wardrobe or making a purchase that you swear is a form of self-care. Before you do, reads these tips and tricks on how to treat yourself without breaking your bank!
1. Create a realistic budget
This might sound simple enough, but it is more difficult than you think! Whether you have bills to pay or student finance coming in, you want to know how much money you have left every month so you can plan your purchases accordingly! There are a lot of apps out there that are available to help you sort out your finances. Alternatively, you can you can use our official BGM Budget template.
2. Unsubscribe from that email list
Let’s be honest, being constantly bombarded with emails is just plain annoying. Getting information on discounts and sales is a good thing, however it encourages impulsive spending. To reduce the temptation, ditch email subscriptions and you will be spending less and sticking to your budget! If you’re a student, you can download UNIDAYS, which offers different brand discounts in one place without falling down a spending hole.
3. Don’t store card details online
Websites will always recommend storing your card details online for you to check out your purchases faster. Don’t do it! This may seem convenient, but it increases impulsive spending. Finding your card and typing the details give you the time to deliberate your purchases before committing to it. This also reduces buyer’s remorse and the risk of overspending.
4. Avoid the “Buy now pay later” trap
Did you know that you’re likely to spend more money if you use the Buy Now Pay Later (BNPL) method at checkout? People naturally prioritise instant gratification and when the payment seems far away, you’ll spend more. For smaller purchases, avoid using this payment method and you will find yourself spending less and saving more!
