There are numerous hacks for when you want to save up for a house or another long-term goal, but what if you could save money on every purchase? Items that you purchase every day or on a recurring basis tend to make up a large part of your monthly budget, so cutting spending here can make a big impact. It turns out that there are plenty of ways to cut down on the costs of just about any purchase that you make. It all comes down to taking advantage of different tools and resources that were designed with budget-savvy shoppers in mind.
Here are three ways that you can save on every purchase you make:
1. Use coupons and shop promotions.
One of the easiest ways to save money is by using coupons and finding deals. Let’s say you’re looking for a blazer and sheath dress for work. Instead of paying full retail for your work dresses and jacket, find a discount offer. Many popular retailers like White House Black Market also offer free shipping from time to time, which you should always take advantage of. For online shopping, a simple Google search for “[store name] promo codes” will pull up various websites for deals. The codes featured on these sites will involve some trial and error, but you can almost always find some kind of coupon code.
When shopping at physical locations, you can often find coupons in the flyers at the entrance of the store. Another way to get coupons is by signing up for a mailing list to get the deals delivered to your mailbox. Most stores also offer coupons online that can be printed out.
Also, if the store you’re shopping at has an app, download it. Many retailers are moving toward digital coupon clipping, where you can enter your phone number at checkout and the savings will be applied.
2. Always compare prices.
Research pricing before committing to any purchase. Competitors may offer the same product at a lower price, allowing you to keep more money in your pocket. Aside from old-fashioned research where you visit a few different websites or compare weekly flyers, you can take a more automated approach. There are websites that will do the work for you; more and more online services offer you the ability to type in the product, and then an algorithm will automatically find the lowest price.
These price comparison sites go beyond household items as you can even compare necessities like electricity suppliers. Let’s say that you wanted to learn more about Northern Ireland electricity suppliers and how to get the lowest utility plan for your household. Rather than obtaining pricing information for a single electricity market, there are sites like Moneygains that allow you to compare electricity tariffs to find the best deal. Moneygains understands the energy regulation and the electricity sector’s distribution network so you don’t have to. You can also find additional information and resources on how to budget energy, which is another great way to save money.
3. Buy used instead of new.
If given the option, always buy the used or refurbished version of an item. That means instead of buying a brand-new laptop, opt for the open box version. The discounts offered for electronics can easily add up to hundreds of dollars in savings, not to mention they usually come with a warranty to protect you from faulty parts.
This doesn’t just apply to electronics, as you can even get clothing, accessories, and jewelry from exchange marketplaces. People post their items along with detailed descriptions and photos to showcase the overall condition. When shopping on these apps and websites, always review the buyer and seller policies beforehand to get an idea of what to expect.
If not used, you can also opt for older models of certain goods. For example, when a new phone model has been released, the price of older models often goes down. Another consideration is used vs. new cars. A 2021 model of a car will be much higher than older models released over the last five years, yet the features might not be drastically different. By opting for used or slightly older choices, you’re saving yourself lots of money in the long run.
