Ways to save money on your shopping

Is it the end of the month? Did you just get paid your monthly salary? Most people once they receive their salary go ahead and figure out what will go towards their bills, savings plan and the home shopping - usually having a little left for recreational activities. It is important to find ways to save your money because you have worked hard all month to earn it. Extreme couponing might not be for you and you might not have time to look for bargains but it is important to always save that little bit for a rainy day.

There are many ways you can save money on your shopping and here are some examples:

1. Always be a smart shopper and don’t buy the first thing you see, this can be said for Nigerians that jump to a decision to buy something without thinking it through. You may find a better offer online or research for the best store that is selling the item at a lower price. You will need to train yourself to get all the information on the product and only then to go out and try to purchase it. If you are searching for basic everyday food items then why not head out to an outlet which can provide you with regular savings.

2. Another culprit that can make you lose money is your impulse, this is usually how stores make the most money as they depend on your impulse buy. When you are generally window shopping why not leave all your money at home to reduce the chances of an impulse buy. Take down the product number of the item and research the best price when you get home. If you are attending a market only take out a small amount of money to ensure that you won’t go against your budget.

3. One of the biggest mistakes people make is that they go food shopping without a list which is a big no. If you don’t have a list you end up bringing home things that you otherwise didn’t need and leaving behind things you did need. Before you leave the house go armed with a shopping list with the quantity of the produce you need to avoid anything going to waste.

4. Before you leave the house always look at your saving money plan, this is a crucial way of saving money whilst shopping. This will help you to decide what your budget is for your shopping trip, or go one step forward and categorise your expenditure and set budgets for each section. Get envelopes to differentiate the different amounts of money for the different types of expenditures.

5. Always negotiate a better price for the products you buy, this might seem like a dated approach but it really does work. This is usually effective in open air markets and at some small privately owned shops. All the extra money you save from shopping can go into your life savings plan.    

6. You will be surprised at how good the produce can be in budget stores as most of it comes from the same location as the high-end store. You will be amazed at how much you can save at budget stores, and they have more variety, just because it isn’t branded doesn’t mean it doesn’t have the same taste.

7. When you buy big items for the household such as rice or soap powder, always visit an outlet and buy in bulk. Why not buy all your months groceries together in bulk? These outlets usually can offer you an excellent discount which in turn will save you some money.