Save 1000 $ on Shopping

March 8, 2017 Off By

1. Reduce the number of shopping trips

Dedicate one day in week for shopping. Do not buy anything on other days. The reason for this is to reduce your exposure to temptations. At the moment when you decide to buy something, you are at risk of buying something else that you do not need and that could be even harmful (alcohol, junk food, …). Therefore, reduce the number of shopping trips and you will reduce the number of temptations and save money.

2. Buy from the list

Before shopping make a list of things that you want to buy. Buy only things that are on the list. Make the list even if you want to buy only one thing. By the way, buying one thing is a waste of time and sign of bad organization. At each buy you spend some fixed amount of time (going to the shop, waiting to cross the street, …) probably at least 5-10 minutes for shops that are in your neighborhood. Imagine that you go shopping seven times a week that takes 35-70 minutes. Shopping three times a week will take 15-30 minutes. The difference is about 30 minutes. Find your hourly wage and calculate how much money you can save only on your time (probably about 5 $ per week).

3. Make a do not buy list

If you have problems with buying things that you do not need, make a list of forbidden things (alcohol, junk food, …). Before buying anything read a list of things that are absolutely forbidden. Make a promise to yourself or someone else that you will not buy such things.

4. Track your expenses

Note each thing you buy and its price. That will help you to memorize prices and find things on which you spend the most of your money. Using this book keeping, you can search for shops with the best offers for you. For example, you might find that groceries costs 2 $ less in another shop in your neighborhood. That might sound little, but shopping 3 times a week, will result in saving $ 312 per year.

5. Reduce shopping list

Go through your shopping list and ask yourself for each item "Is this item really, really necessary?". If the answer is no delete it from the list. After that you could delete the most expensive item from the list. With that you will delay spending money.

You can now calculate how much money you can save. 312 $ on better deals + 300 $ on free time + 350 $ on things that you do not need. In sum that will be $ 962 per year.