- Plan a budget
- Drawing up a budget can appear quite cumbersome. However, it will hurt you a lot less than paying off unwanted bills. So, allocate a realistic sum for festive shopping. Make your shopping list and then divide the total spend among the various items—clothes, shoes, gifts etc. Try not to spend on arbitrary goods, even if they are available at a discount.
- Assess your need
While
making your shopping list, ensure you include only those things that
you really need. Look for deals, for the goods on your shopping list,
but be mindful of not splurging on impulse shopping, goaded by
'discounts'. During festive seasons, retailers come up with several
seemingly interesting schemes to draw in customers. However, they might
not always be in the customer's interest.
For instance, advertisements like '10% discount on gift shopping of more than Rs 3,000' hold a strong pull. But do you really need to spend Rs 3,000 for a Rs 300 discount, when you had allocated just Rs 1,500 towards gift spends? Is it a gain of Rs 300 or a loss of Rs 1,200? Question your buying decision—is the purchase of value? It will help you evaluate your buying decision.
For instance, advertisements like '10% discount on gift shopping of more than Rs 3,000' hold a strong pull. But do you really need to spend Rs 3,000 for a Rs 300 discount, when you had allocated just Rs 1,500 towards gift spends? Is it a gain of Rs 300 or a loss of Rs 1,200? Question your buying decision—is the purchase of value? It will help you evaluate your buying decision.
- Make it a family affair
The
allure of shopping, at times, can be too good to resist. So, if you
can't control the urge to shop when it's raining discounts and 'sales'
are aplenty, it is suggested you don't go for shopping alone. Involve
your family. Take it along for shopping. And before you do that, discuss
your shopping list with your family.
Your family is most likely to rein in your urge to spend by pointing out why, despite the discount, you really don't need another centrepiece, or a wall hanging. When you are making the shopping list, ask your family members to cross out what they think is unnecessary. Friends too can be of help in preventing you from turning into a shopaholic.
Your family is most likely to rein in your urge to spend by pointing out why, despite the discount, you really don't need another centrepiece, or a wall hanging. When you are making the shopping list, ask your family members to cross out what they think is unnecessary. Friends too can be of help in preventing you from turning into a shopaholic.
- Wait it out
Allow
the initial excitement around a discount/special offer to settle,
before you make a purchase. Sit on the offer for a couple days and give
that heady feeling some time to concretise. What seems irresistible at
first sight, after a while, quite often, loses its lucre. So don't rush
into buying things.
- Opt for cash on delivery
Replace the card with actual fiat money, and the spell breaks. So, it is best to opt for cash on delivery when you order things online. The sight of parting with your money will deter you from ordering things you do not really need.
**Source: ET Wealth (21st Sept 2015)
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