In today’s world, online shopping has taken over, and everyone is looking for ways to save money and make smart purchases. This article will share some amazing shopping hacks to help you save money and shop wisely, both online and offline.
Before making any purchase, use price comparison tools like Keeper Price or Price History App. These tools will help you avoid paying a premium price and even set price drop alerts.
Many companies offer student discounts, for example:
If you need something but can’t afford it, check out websites that sell renewed and refurbished items like Amazon Renewed and Cashify.
Pro Tip: Check out E-Refer for re-certified quality laptops at 40-50% discount with six months warranty.
Select a credit card that provides maximum benefits based on your lifestyle, such as fuel benefits, travel rewards, or co-branded cards like Axis Bank Vistara and Air India SBI.
When shopping for clothes, choose items that can last and can be paired with existing clothes. Use mix-and-match to create different outfits. Apps like Closet and Smart Closet can help you keep track of your wardrobe and suggest new outfit combinations.
Instead of throwing away your old clothes, consider reselling them on platforms like TFT, Poshmark, or ThredUp. Alternatively, you can swap your old clothes with others on these platforms.
Instead of buying expensive outfits for one-time events, consider renting them from local shops or online platforms like Rent the Runway, Style Lend, Rent An Attire, or Flyrobe.
Studies have shown that shopping on an empty stomach can lead to impulsive purchases. A University of Southern California study found that hungry shoppers spent 64% more money and bought 88% more products than those who were less hungry. So, eat before you shop to make wiser decisions.
When planning a big purchase, consider withdrawing money from your liquid funds. This waiting period may help you realize if the purchase is truly necessary or just an impulse buy, potentially saving you money.
If you’re a business owner, consider buying furniture or gadgets in the name of your business to claim depreciation and input tax credit. This strategy can help you save money on taxes.
As an equity investor, you may be eligible for special discounts from companies whose shares you own, such as Bata, Hawkins Cookers, Indian Hotels Company, Titan, Trident, etc. Check their respective shareholder benefits programs for more details.
The money you save by using these shopping hacks can be invested in SIPs, potentially growing your wealth over time. For example, if you save ₹3,000 per month using these hacks and invest them in an SIP for 30 years at a 12% annual return, your investment could be worth close to ₹1 crore.
In conclusion, these shopping hacks will not only save you money but also help you make better financial decisions. By following these tips and investing your savings, you can enjoy a more secure financial future. Remember, every rupee saved today can compound beautifully over the years if invested properly.
Leverage cashback and rewards apps to earn points or cash when you shop. Apps like Rakuten, Swagbucks, and Shopkick offer cashback and rewards for online and in-store purchases. These rewards can be redeemed for gift cards or cash, which can be used for future shopping.
Shopping at the end of a season can yield significant discounts on items as retailers clear out inventory to make room for new merchandise. For example, buy winter clothing in late winter or early spring to take advantage of clearance sales.
In some cases, negotiating prices can lead to better deals. This is especially true for big-ticket items like electronics, furniture, and appliances. Don’t be afraid to ask for a lower price or inquire about upcoming sales and promotions.
Many retailers offer bundle discounts when you buy multiple items together. For example, you might receive a discount when purchasing a TV and a sound system together. Look for these opportunities to save on your purchases.
Sign up for newsletters from your favorite retailers and brands to receive exclusive discounts, coupons, and sale alerts. Many companies offer special deals and promotions exclusively to their newsletter subscribers.
Before going shopping, create a list of the items you need. This helps you stay focused on purchasing only the essentials and can prevent impulse buys.
Some retailers offer price matching, meaning they’ll match or beat a competitor’s price for the same item. Research the price matching policies of your favorite stores and use this strategy to get the best deal possible.
Lastly, practice patience when shopping. If you’re not in a rush to buy an item, waiting for sales or discounts can save you money in the long run. Keep an eye on price drops and deals, and strike when the time is right.
Implementing these shopping hacks will not only save you money but also encourage more mindful spending. By adopting these strategies and investing your savings wisely, you’ll be on your way to a more secure financial future. Remember, every rupee saved today has the potential to grow exponentially if invested properly. So, start using these hacks and watch your savings accumulate over time.
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