Money Personal Finance Saving

3 New year money-saving strategies that could break your piggy-bank

new year money saving strategies

The holiday season is back again and the holiday marketers have already created enticing ad campaigns to make you spend money. Holiday marketers understand the psychology of consumers very well and use clever strategies to make them spend more and get into debt in the long run. The holiday season is the time when people think more from their heart rather than the mind. And, retailers exploit consumers’ vulnerability to reap profits. 

Like you, I’m also on a shopping spree. Like you, I also make several strategies to shop smartly for the Christmas and New Year celebrations. My goal is to shop more without breaking my piggy-bank. But many times, I also get enticed by the attractive marketing campaigns and end up spending more.

I don’t want the same thing to happen this year. I don’t wish to spend an extra penny for Christmas and New Year celebrations. Neither do I want my readers to get trapped by the smart marketing gimmicks because I love you all. So here I’m, all set to reveal 4 New year money-saving strategies that could break anyone’s piggy bank. Hopefully, this would help you save a lot of money. 

1. Taking advantage of all the sale offers: Whenever my mom sees a minimum 50% flat off sale offer, her heart leaps with joy. She ends up buying a lot more than what is required. Last year she planned to spend $200 for Christmas and New Year celebrations. But when she came out of the store, she has already spent $350. Thanks to the exciting sale offers. 

If you’re going to a store for shopping, then buy only what you need. Stick to your holiday budget. Don’t buy things that are not necessary. If the retailer is offering a flat 50% discount on shower gels, then you can buy 3 bottles. You can stock them up for future use. Check the expiry date as well so that you get enough time to use all the 3 shower gels. 

2. Buying cheap products to save money: Branded items doesn’t always necessarily mean that they are quality goods. Some brands don’t compromise with quality. Again, some brands don’t give too much importance to quality. So you have to be careful at the time of buying any product. However, purchasing the cheapest item could cost you a lot in the long run. 

A $50 men shoe may seem to be a great deal but it has to be replaced every year. So in the long run, you could end up paying more. On the other hand, a pricey pair of the shoe could last for a decade with proper maintenance. If you think from a long term perspective, then buying a good quality product is better than buying cheap items that need to be replaced again and again. 

When you’re ready for Christmas and New Year shopping, buy quality goods even if though they are pricey. Focus more on quality rather than quantity. 

3. Buy more with coupons: You can indeed save a huge amount of money with coupons. But it’s equally true that you can end up wasting a lot of money due to the same coupons. 

Coupons come with terms and conditions. Some coupons offer a $10 off a $50 purchase. Other coupons may offer $40 off a $100 purchase. Naturally, consumers are tempted to purchase $100 to get that $40 off. But eventually, they are spending more? They are making impulsive purchases and wasting money. 

So my suggestion is, don’t get swayed by coupons and make impulsive purchases. Stick to your budget and holiday shopping list. 

Last but not least, 

Most online shopping portals offer 0 shipping charges when your cart value is of a certain amount. This is another strategy to entice you to spend more. Many consumers end up buying things they don’t need just to qualify for free shipping charges. But that’s a waste of money. 

Be careful when you’re doing your holiday shopping online. Make a list of items that you need first. If the total cart value is not enough to qualify for free shipping charges, then it’s better to wait and shop later.