If you are struggling for cash during the month then shopping on a budget and some other key things you can change which will make a big difference to your cash balance at the end of the month. Our habits when shopping in the supermarket and in other stores can have a huge impact on your weekly and monthly expenses. Keeping an eye on the little things will help at the end of the month.
You might have developed some expensive habits when shopping and you don’t even realize it. So much of our shopping behavior is based on what we have always done and can even be influenced by our parents, siblings, and who we surround ourselves with. If you’re used to buying brand names or always using a credit card then this might be impacting you without you even realizing it. Below we have talked through some of the more straightforward ways to save money in our day-to-day lives.
Get Rid of Brand Names in Your Weekly Grocery Shop
No matter what you prefer – buying brand names is almost always more expensive than buying the supermarket’s own-brand equivalents. A brand name spends money on just that, the brand. After they’ve paid for this brand recognition the cost of this has to go somewhere – and in this case, the cost is passed on to you – the consumer.
An easy way to save money on your weekly shop is switching some of these brand names to more generic in-house items. Even if you just change your toilet paper, coffee, ketchup, and dishwasher soap, you’re already saving money.
Before you next go to the grocery store take a look at your shopping list and see what you are going to switch out for a generic brand. Have in mind your target for items and they try to stick to that. You’ll probably be fine with the differences after just a couple of weeks and so this could be an easily sustainable habit over the long run.
If you find that you’re at a supermarket that doesn’t have generic branded items then it might be time to switch to a store that does!
Make a List Before you Shop to Avoid Impulse Buying
A great way to avoid buying more than you need is to avoid impulse buying. If you have already made a list of what you want to buy then you should be able to stick to it when in the store. Impulsive purchases can really add up at the end of a shop. If you can reduce the number of times that you go shopping in a week (e.g. do a big shop at the beginning of the week) then you will reduce the number of opportunities you have to impulse shop.
Also – if you make a shopping list you can easily tell when you are buying something that is not essential and therefore is more likely to be an impulse purchase. If you’ve made a budget and are struggling to stick to it then you can read Top 5 Tips for Budgeting.
Avoid Purchasing Unnecessary Clothing
When you first create a budget it is important to try and keep your finances in check. At first, it might be difficult to not spend the amount of money you were before, and you might notice that it is challenging to do this. However this is important – paying attention to the amount you are spending on your credit card or in your bank, will help you stay on track.
For many people buying extra or unnecessary clothing or shoes is where they spend lots of money. It is very easy to go to the mall or even online shop and buy things that you don’t actually need.
If you know that you are prone to buying clothing or shoes that you don’t need then try to avoid places where this is going to happen. E.g. don’t spend hours on your phone browsing Instagram or your favorite store and don’t just go to the mall to wander around. Understanding where you are likely to spend more money will help you avoid that in the future.
Avoid Using Your Credit Card for Non-Essentials
Spreading your purchases across a number of cards can help you get points and spread the cost of your purchases, but it also means you might have less visibility on how much you are spending on what. It can be tempting to put things on the credit card to buy now and pay later but this can come back to bite you later in the month or year when you have to pay this money off.
Also – make sure to never use a payday loan to buy non-essentials, especially if you’re unsure about making the monthly payments.