How to Shop on a Budget

Image Source: Elizabeth Tran – Created with Canva

As we get closer to all of the holiday sales, we may be tempted to buy everything in sight, especially on Black Friday and Cyber Monday. While all of these sales may appear irresistible at first, it’s important to not overbuy and to keep track of our spending.

Being mindful of a budget can seem challenging at times, but it’s actually quite easy once you get the hang of shopping with specific goals in mind. Check out these easy-to-follow tips to see how you can save tons of money this holiday season!

  1. Want vs. Need

It’s important to truly evaluate whether you want something or if you need something. For instance, if you already have three pairs of sneakers, you don’t really need another pair, even if they’re on sale. But since winter is only two months away, it may be worthwhile to invest in a thicker coat or jacket, especially if you don’t already have one.

Before I make a purchase of any kind, I always ask myself this question of want versus need, and I’ve effectively prevented myself from buying unnecessary things. In the long run, this method also helped me save tons of money.

  1. Is the Item Worth the Price?

Another method that I use to help control my spending is to assess whether or not the item I want is worth the price.

The following is a simple little way to evaluate the worth of an item:

Let’s say that I have my eyes on a dress for a holiday party. The dress costs $150, and I know I’ll most likely only wear this dress twice. Take $150 and divide it by 2. This means the dress will be $75 per wear.

Let’s look at another example – there’s a bag that’s on sale for $200. I know that I’ll use it at least 10 times a month, so the cost per use over one month would be $20. If I use the bag more throughout the year, I’ll really get my money’s worth.

 This is a great way to determine whether or not something is really worth its price and can help you make better decisions spending-wise. 

  1. Using Coupons

One of the easiest ways to save money is to use coupons. Whether it’s through email newsletters or magazines or even newspapers, be on the lookout for any coupons or promo codes that can help you save some extra cash. 

If you’re currently going to school, don’t forget to take advantage of your student status as well, since many retailers offer exclusive student discounts too.

  1. Waiting for Sales

Another easy way to save money is to wait for sales. If there’s something that I don’t necessarily need to have right away, I usually keep an eye on it; once a sale comes around, I swing by the store or hop on over to the store’s website right away to snag the item that I’ve been keeping track of.

Let us know if you have any tips on how you shop on a budget as well. And of course, have fun shopping this holiday season and stay safe!