- November 11, 2016
- Posted by: Ethica Private Wealth
- Category: Blog
We all have a list of the things that we want to buy or have and many of us will buy what we want no matter the price, causing us to experience buyer’s remorse. However, experiencing regret for purchases might not be the only thing a person may feel. Excessive spending and expensive impulse purchases could be one major reason we’ve barely got a cent to our name.
Here are 5 ways we can buy some of the things we want for less.
- Make saving your job
If we take a close look at what we spend on clothing and household items over the course of a year, we’ll all come up with an amount. For example, let’s say that number is $10,000. We should not only make it our job, but also our goal to buy whatever we’re going to buy in the following year, only for $5,000 instead. If a person can save half of their annual spending on household goods and clothing, it’s technically almost like earning an extra $415 each month.
It will take a bit of time and research to locate bargains, discounts, and possible DIY or make-it-yourself ideas, but doing so could help anyone save some money and start tucking it away for a rainy day and the future.
- Ask for deals and discounts
This tip may be a little difficult for some to follow because many of us aren’t used to asking for something, and it kind of feels awkward doing so. However, without asking we will never know whether or not there was an opportunity for us to save on our purchase. Really, the worst thing that could happen is that the answer will be no, but the possibility of saving will always exist when a person asks.
- Save money by shopping consignment
Many people overlook consignment stores as a way to help them save on household goods and designer clothing. Most of the time, the items sold on consignment are practically brand new. It may take some time and some planning because it’s not the same as walking into a department store that carries everything under one roof, but the longer a person keeps their eye out and waits, the more they will save on great stuff later on. To find the best items, scout out consignment stores in nice neighborhoods for the best chance to score some great stuff at a fraction of the price.
- Online Auctions
Ebay is great for finding smaller, lower ticket items like clothing. Many people will go out to an actual store and try on a brand that they like for size, then look for it on Ebay, scoring it for next to nothing. Larger items can be purchased on Ebay or other online auctions or bidding site, but it’s important to ask a lot of questions first since some items will be new or like new, but others will be used.
- Be patient, it will eventually pay off
In a world of instant gratification, this may seem like an impossible feat for some, but waiting often than not, yields the best results. Creating a watch list or wish list (Ebay has a watch list option) of items you’d like to have or find for much less. Watch items and watch out for end of season sales and clearance sales. Some of our coveted items could be obtained for up to half the price if we just wait it out.
If you live on the Sunshine Coast and are looking for more ways to save money for your future, try talking with one of our financial planners by visiting https://www.ethica.net.au/about/why-choose-us/.