How to save when you shop

Let me introduce myself to you.

My name is Mrs Stingy.

Any better name?

As it sounds bit more depressing than actual it is, let’s say I am frugal. ummmm… sounds better.

I don’t like spending money unnecessarily. I feel really uncomfortable (grumpy) when I waste money without proper reason. Believe or not, it is painful… I know what you would think about me but don’t get me wrong that I would never make any needless purchases. I certainly do time to time especially, when I can see my favourite words “half price”, “ 50% further sale”, or “MEGA sale”. Sometimes, I simply cannot control myself and buy things for sake of buying and enjoy the instant pleasure for a very short time. So, what I am talking about is I am not spot-on all the time but, I am trying to be a wise buyer most of time.

Let’s face the reality. The society that we live in requires certain standards of living so it is almost impossible to completely stop spending money or living fully self-sufficiently like a wild man. We must to buy stuff and spend money more or less. Therefore, we need to be sensible spenders to get the best value out of our “money”. Money is very important to me as it is equivalent to my precious life and energy that I had to exchange with work. So, it is same to me that wasting money is wasting of my life.

I guess some of you already feel sorry for me and my life like some of my friends and colleagues who think we must buy stuff and spend all our earnings for enjoying life. If you are one of them, my ideas wouldn’t be very helpful but if you want to know how I have become financially independent and ready to leave the job (retirement) at age of 44, my thoughts will make sense. All is up to you.

Let’s talk about how you can save money when you shop.

1. Less shopping less spending: Reduce the number of shopping. If you go every day, reduce to every second day. If you go 2 times a week, then reduce to once a week. It would be even better if you can manage your regular shopping less often. We are more likely to buy more unnecessary stuff while we are in shops. Specialized advertising strategies can easily capture our attention unconsciously and scam us to buy the stuff which we don’t need. As we all know, they are very good at it. You will need to do a bigger shopping when you go less time but total spending will be significantly less than when you go more often.        

2. Buy what you need not what you like: I know that you would hear this million times but this is critical. What you like to buy is not always same as what you need to buy. We all want to have more than what we need to have, don’t we? This is simple math. (More money and time saved = Buying what you like – Buying what you need). Think twice when you shop, whether you need the stuff or you just want to buy the stuff. Purchasing consciously is the opening step to take for saving money.

3. Make a shopping list but, be flexible: Make a shopping list and try to stick on the list. Before you head to the shop, take some time to think what you need to buy and write down the list. It happens to me often that actually I don’t need to shop for anything. Knowing what you need to buy can save time and also avoid purchasing unwanted items.

4. Be flexible and find alternatives: When you shop, you need to be flexible with alternatives. If the item you wanted to buy is not on sale, try to buy alternates that are on sale or better price. Most of time, what we want to buy can be replaceable with cheaper and better options if we let go our stubbornness. If apple A that you wanted to buy is far more expensive than apple B which is similar quality, this is the time to try apple B. Buying seasonal fruits and vegetables are cheaper and also fresher. If you have the flexibility, I am sure that your shopping basket will be fuller and your wallet will be heavier.

5. Buy on sales: I have not seen many days the shops without sale signs on their windows. There are plenty of occasions for them to shout at us “SALE”, “BUY this, BUY that… ”. From the start of the year till the end of the year, they put sale signs on their windows and winking at our wallet. So, why would you pay full price? I hardly ever pay full price unless it is urgent. Bigger market produces more stuff to buy but the strong competition benefits us for more options and bigger discounts so please take the advantages. I know some people don’t like to buy sale stuff or cheaper stuff as it doesn’t look good but how silly it could be when you pay more for the same stuff to be looking cool? It is up to you but I feel cool when I spend less for same good things and save money for my comfortable retirement.

6. Maximise store cards benefits but don't buy to get the benefits: I have been using FlyBuys (Coles supermarket store card) for a very long time and saving quite a lot of money through their point system. When I get 10,000 points, I can get $10. Coles sends me non-stop emails to activate their bonus points options and I diligently activate the bonus points options. Honestly, it can be annoying sometimes but there is nothing for free so I happily tick the boxes for extra dollars for my next shopping bills. But, please be careful of buying extra things or unwanted things to get the extra points as that’s the outcome all the big suppliers want to achieve.

7. Check the receipt: don’t forget to check the receipt after shopping. I had to go back to the shop for the price correction countless times as they overcharged me. Some sale items are quite often incorrectly priced in the system so you can be overcharged accidentally. The last thing we want is paying more for sale items while you are shopping. People can make mistakes and sometimes even machine does so we should look after our money. Some big supermarket chains’ policy allows giving away the items that they made an error so you can get things for free if you are lucky. Sounds good, doesn’t it? So, check the receipt. Look after your money is starting point of saving money.

Our current saving rate is over 80% of our income and I still think there is a gap which I can narrow down. Do I feel if this is too tight so that I cannot enjoy my life? The answer is short and simple. “NO!” I spend my money whenever and whatever I need to spend for and I still think we have more than enough. Amazing thing is when you spend wisely, you will find that less and less things you will want to buy and life is getting more comfortable. I don’t want you not to shop but shop consciously. Then less money will be spent. More saving will let you be free. One of the most stressful things in life is financial restrain and this can be avoided by your sensible spending habits.

Earning never can win saving.