Girls love to shop, that is a fact. However, shopping can be addicting and can cause damage to finances if not done properly. If you are left with stress after shopping because of high credit card interests, or because you have to borrow money from others to be able to buy your wants, then shopping is not really giving you a positive effect. But if you know how to shop wisely, then shopping will be enjoyable and fun.
But not many of us really know how to shop wisely. It was never taught in school. Most people only learn how to manage their finances when they are already confronted with financial problems.
And since shopping is something that most people do, it is important to learn how to shop wisely. Buying clothes is a necessity, because clothing is something we use everyday. However we should all learn how to buy clothes the frugal and smart way so that it won't hurt our finances.
I have curated simple tips to help you and me to shop for fashion items in a financially intelligent manner. I have made these as part of my personal finance values to help guide whenever I am about to shop for our clothing needs.
1. Make a list.
Make it a habit to scan your wardrobe and list items that you need. Listing what you need will help you allocate a budget for that specific item and will give you enough time to save for it.
Make sure are only listing what you need and not what you want. Because when you actually consider what you want, for sure the list will be endless.
2. Plan your shopping.
When you have already made a list of what you need, then it is now time to plan how to buy those items on your list. Provide a budget for a specific item. For example, I need to buy a pair of running shoes, I will allocate 3000PHP for that running shoes. So the shoes I will be looking for should fit on my budget which is only 3000PHP. When I have already saved up 3000PHP in cash, then that is the time that I am allowed to buy the item.
Also plan your shopping according to scheduled mall or store sales. I like to check sales on malls Facebook page. This way, you can schedule your shopping on the day where there is a mall-wide sale.
3. Shop alone.
If you can shop alone, do it. As much as possible avoid shopping with shopping crazy friends because there is a tendency that they will convince you to buy something that is not your list or something that you do not really need.
Shopping alone will also give you focus. Bringing children especially toddlers along when shopping will divert your attention to their needs and will sometimes cause you to make impulsive shopping decisions.
4. Compare prices between shops.
Before buying an item make sure that you have already checked all the shops offering the same product and be sure to only buy the best deal. Also consider online shops when scouring for best deals.
5. Only buy discounted items.
Why buy clothes at full price when you can actually buy it half the price? Most shopping malls and stores always have their mall sales where items are sold at half the price or even up to 70% off, take advantage of those sales.
6. Shop for items that are classic.
It is very tempting to shop for clothes that are in the fad. Ask yourself if you can still wear that style even when it is no longer in the fad. If not, you should just stick to the basics and shop for classic items which you can wear whatever the fad is.
Do not be a fashion victim. Instead create your own style and stick to that style of your when buying for fashion items.
7. Buy quality items.
Shop for items that can survive the wear and tear longer. It is sometimes enticing to buy the cheapest piece only to find out that it can be worn out with just one use. Always check the quality of the products that you are buying.
Look for quality products especially when buying shoes, because you wear shoes more often and carry the weight of your body so they are much easily worn out. As much as possible go for brands that are known for their quality. Comfort and quality are your first priority when looking for shoes.
8. Pay in cash.
You read it right. Pay in cash. Don't use credit cards if you can not pay it in full because it will only incur interests and will lure you into the debt trap.
Save money for the things you like to buy instead of using your credit cards. If you think you do not have enough knowledge about credit cards, do not use them. But if you can pay your credit cards in full, all the time, then maybe you can use it. Or better yet, use a debit card instead.
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