Tag Archive for shop smart

3 Easy Ways to Avoid Emotional Spending

3 Easy Ways to Avoid Emotional Spending

3 Easy Ways to Avoid Emotional SpendingEmotional spending can ruin even the best budget. If you have spent time and effort putting together a logical budget to keep your financial life on track, it would be a shame to blow it by spending money on an emotional basis. It isn?t always easy to avoid emotional spending. But, you need to be disciplined if you want to see your financial goals realized down the line.

What is emotional spending? Any purchase you make which is based more on your emotions in the moment than on logic and reasoning can fall into this category. For instance, if you are sad or upset about something negative in your life, you might go shopping to make yourself feel better. Or, if you are excited about an event or other occasion, you may spend a lot of money when you are caught up in the thrill of the moment. Either way, spending your money in this manner will make it difficult to stay within your monthly budget.

To help you steer clear of emotional spending, we have compiled three tips below for avoiding this budgeting pitfall.

1. Wait a Day

This is a classic piece of financial advice. If you are thinking about purchasing something with a significant price tag, it is a good idea to wait a day or two before actually spending the money. This will help you to avoid buying on emotion or impulse.

If you wait a couple days and still think that the purchase is a good idea, it may be smart to fit it into your budget. However, there is a good chance that you will decide to save the money after you step back from the situation. It may be helpful to set a personal limit for spur-of-the-moment purchases. For instance, you could decide that you have to wait an extra day before buying anything which costs more than $100.

2. Ask a Friend

Sometimes, the best thing you can do when trying to make a financial decision is to consult a friend. If you are unsure as to whether or not you should buy a certain item, check in with one or two of your closest friends for advice. The ultimate decision will still be up to you. But, getting help is a smart way to see the purchase from a new perspective. If your friend seems to think that you would be spending too much money for the item, it may be worth second thought. It can also provide you with some extra accountability for your spending.

3. Try Other Forms of Therapy

If you are thinking about going shopping because you need something to lift your mood, try other options first. For instance, you could go for a nice walk in a pretty location to get out and clear your head. Or, you could schedule some exercise with a group of friend. Try taking a jog or going for a bike ride. Whatever your personal preference happens to be, doing something outdoors and active can be a great way to shake off your negative mood. When all is said and done, you may find that you are no longer in need of ?retail therapy?.

 

Have you ever dealt with emotional spending? How did you avoid it?

 

Photo courtesy of: Unsplash

How to Shop Smart at Costco

costco

costcoHave you ever stepped foot into a Costco? It is like no other store you have ever walked into. First of all, it is just massive. It might take you a little while just to get your bearings in the store. Secondly, they offer many products that are only sold in bulk that are big enough to feed a small army.

As you start walking up and down the oversized aisle ways, you?ll likely see a carton of tissues that contains 10 boxes all sold as one unit. The same thing goes for crackers, cereal, and fruit snacks. There are many units boxed as one, and the premise is basically that the more you buy, the better deal you are going to get. So, if you are buying a carton of 10 boxes of tissues, you would expect to pay less per box than you would if you were buying a single box somewhere else; perhaps for $1.29 vs. $1.99.

Know Your Prices When Shopping at Costco

While many people think that they are getting deals on everything in the store, this just isn?t the case. Perhaps you buy that big carton of tissues for $12.99 and think you are getting a deal, but in reality?Target might have a sale on their tissues and you could buy a single box for only $0.79. The point is, watch the per unit costs to make sure you?re really?saving money by buying the item at Costco.

Just because you are shopping at Costco does not mean that you will always get the best price on your goods. Do your due diligence and look at sale papers for other stores. If you don?t, then it?s possible you will not save money at Costco.

Don?t Get Tempted by the Samples

Sure, it?s nice to walk around and try free samples, but there is a reason those nice ladies are there feeding you. They want to tempt you into buying those foods that you loved so much in the sample.

We have been guilty of this on occasion, especially when we bring the kids. What I?ve found to be the key is to avoid the samples altogether. Not only will it drive up your bill, but could also hinder your desire to?eat healthy in the case it?s some sort of snack or dessert.

Avoid the Big Ticket Aisle

Do you really need a big screen TV or surround sound? Then what are you doing in that aisle when you are grocery shopping? Yes, Costco sometimes has great deals on electronics and big screen TVs, but that does not mean you should buy any of it. If it?s easy for you to get tempted by those shiny electronics, then stay away from them altogether.

Be Sure You Can Use All of What You Buy

Once you start to calculate how cheap of a price you are getting on some of these goods, it?s easy to get carried away a little. While it is true that you are paying very little per pickle in that pickle jar, do you really think you can eat ten pounds of them in a reasonable amount of time? That?s also not to mention the fact that you may not need to eat 10 pounds of pickles!

Chances are that some of those pickles will go bad, or will just be uneaten because you are so sick of them. The end result is any realized savings get thrown in the garbage. I hate food waste as it?s literally throwing money away.

Use the Store Coupons

Costco often sends out coupons to their members. It takes very little effort for you to look through them and cut out the ones that you need. They even have an app you can use in the store if you don?t want to mess with the paper coupons. Due to the size of the items they sell, it?s quite often you can save a good bit of money.

 

What are some of the ways you shop smart at Costco? What is the biggest size food item you have ever bought there? Do you ever eat lunch by showing up for the samples ? come on, I know some of you have.

 

 

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