5 Frugal Shopping Tips to Save More Money

December 12, 2015 - Lifestyle
5 Frugal Shopping Tips to Save More Money

Times are tough. Unlike years ago, inflation is now at its all-time high, and this has resulted in a reduction in the consumer purchasing power. $20 today will buy you fewer items than it would have a couple of years ago. Although some economists would say that the fact that we are living in a free market economy has made things easier for consumers of products. But you and I would agree that that theory doesn’t represent the situation on the ground. So the question remains, “How do we save money while shopping?”

According to an article published by Investopedia , there are some ways in which shoppers can save money while they are out shopping. They include:

1. Make going to the store the last resort

For most people, the store is always the default place for getting whatever we need. But the truth is that it is not the only way we can get whatever we need from it. Maybe you can obtain whatever you need for free after you have searched for them in community advertisement sites like Kijiji and Craigslist. Or you could join a local Freecycle group where you can get whatever you need from someone who already has it but is not using it. Or if it is something that you will not often be using then you can opt to borrow from a neighbor or a friend.

2. Learn to negotiate

One of the ways to save money when going shopping is to make sure that you know how to bargain. It will come in handy when you are standing in front of a salesperson, and they are wiggling about the price of an item they are selling. Although there are not so many items whose prices can be negotiated, there are a few in some places that can. For example, buying a dress in a retail store offers you with the perfect opportunity to negotiate the price than a supermarket would have.

3. Time your purchase

Timing your purchase is imperative if you wish to save money on shopping. The Kitchn also put emphasis on this point where they talk about frugal spending when doing grocery shopping. It is judicial not to wait to buy an item or a commodity when you need it. Plan to purchase it from way earlier so that you can include the sticker price. Also, ask yourself if the item you want to buy ever goes on sale. If it does, then time for the sale. You should also ask yourself if there is a coupon for the item anywhere else. If there is, then consider buying the product there.

4. Be open to getting a substitute product

If the product you want seems to be a bit expensive than you had budgeted for, then you should consider getting a substitute product. The substitute product will do the same job as the initial product would have but at a much cheaper price hence saving you money.

5. Expand your shopping universe

Broadening your horizon when it comes to shopping can help save you big bucks. Therefore, instead of logging on to that site you are used to, try another site. Or you can attempt to go to another store or supermarket than the one that is close to your home. You could find that products are cheaper there or that they offer discounts.