To Have or Not To Have – It’s not a Bargain if you Don’t Need it!

Let’s face it, most of us have weaknesses, but one that can be especially detrimental to your wallet is buying items on a whim.

So is it really a bargain, well yes it can be if it is an item you normally buy and it’s half price.  And no it is something you think is a good buy at the time but don’t need it and may think you will use it.

Emotions can play a very big part in our buying process especially holiday seasons.  And when we are feeling upset or depressed and a shopping spree we think will make us feel better.

When in reality the aftermath on the credit card makes us feel worse.

Christmas Buying – Wants versus Needs

With Christmas, items starting to show up in stores and in our social media newsfeeds don’t help as it’s only October.

It may feel like you just have to buy things and you try and justify your purchases by telling yourself, “Oh, it’s for my sister for Christmas” yet you end up keeping it for yourself.

Well, then it’s definitely not a bargain if you don’t need it and bought it for your sister anyway.

We also get sucked into buying things on bargains that are similar and close to that much wanted or needed item too and then regret later only to get rid of it down the track and buy what we really wanted.

Is it worth the wait for that needed and much wanted item to come on sale or even layby and feel a much more sense of satisfaction in our buying decisions?

We all get sucked into buying our presents early in the year to find we have overbought, if your personality is not the type that usually is disciplined and likes to buy ahead of time, then don’t do it.  There are always specials on and especially in the last few weeks before Christmas.

Set Goals and Plan your Outing to the Shops

If you feel you have to go out, make your goal to just look and do some window shopping. Why don’t you just leave your wallet at home, or at least your cash, debit and credit cards to keep you from buying unnecessary items.

In an article, Beth Ruge, 37 of Adelaide and Mica Teh, 30 of Brisbane, both had a moment of truth when they realised how they were just making random impulse buys with closets overflowing of clothes that still had price tags on them.

They set up the “No Buy July” challenge.

The challenge ran for a month and opened up insights into their own buying behaviour that made them realise how much they spent on things they didn’t need.

Some tips for your own challenge.

To Have or Not To Have – It’s not a Bargain if you Don’t Need it!

When making the decision to start saving money instead of spending it, the behaviour is key.

You will need to start tracking what you spend your money on. Get you a small notebook and start keeping track right now, there’s no time like the present to start making a positive change.

Stay away from the shopping malls and local markets that have cute artistic hand-made crafts.

When you do go out with other friends, think about making a plan before you go out.

Make it known that you are not interested in going shopping or to be in any environment where you’ll be tempted to spend money.

A great way to do this is to have a friend who shares your goal and be each other’s accountability buddy partner.

Find other activities you two can do together with other than shop ‘til you drop.

Forget bargains and sales

No, it’s not a bargain unless you really need it.

Unsubscribe from all email lists of your favourite stores.

Don’t you love the gorgeous pics of the latest fashions and Oh Yes there is a sale!

Lose the junk mail bargain catalogues from your mailbox and bin it in the recycling.

When you go shopping make a list of items and stick to the list.

No impulse buying in case you need it.  I know it’s hard to stick to a list so just remember how you will feel after you get home and you stuck to your list.  Feel empowered!

Spend less time shopping

Time to browse in stores is fatal for your wallet and credit card.

Only go shopping in your lunchtime or when you know you have a short time available.

This will allow some time to try things on but not enough to make you paralysed by indecision because you tried on so many outfits you can’t decide between them.

And don’t be seduced by the salesgirl’s line – buy one and get the second item half price.

The store has increased the price on items to actually make the second outfit seem like a bargain to you.

Have a wardrobe detox

Grab a girlfriend have her come over and clean out your wardrobe.

Basics you wear often go in one heap and put back into the wardrobe.
Never wear again and the wrong size goes in the second heap.

Off to the local Op-shop.

Sell your items on Facebook marketplace.
The absolute sentimental you can’t bear to part within the third heap and this should be the smallest.

Have your girlfriend add up all the money that you spent on each heap.
The op-shop heap is lost savings, the basic worn often is an investment.

The sentimental heap of one or two items like your wedding dress put in a box with tissue paper.

So, how much money did you waste on items that still have the tag on them and not worn, never will again and now don’t fit?

Lost savings you could have stashed and invested.

When you do shop for clothes it should be simple to replace items that have worn out.

Check-in with what you already own and mix n’ match back. Then you buy less because you are only matching to create another outfit.

Follow the French women chic with a beautifully tailored skirt, simple shirt, new belt and a stylish scarf to change and update your outfit. How many pairs of black shoes do you need?

To Have or Not To Have – It’s not a Bargain if you Don’t Need it!

Plan what you need

A part of saving money is only buying what you absolutely need. So, planning purchases ahead of time will work wonders as long as you stick with it and work out just how much you can really afford to spend.

What are you saving for that means so much to you?

The emotional outcome of your goal has to be greater for you than the need to go shopping and buy the stuff you don’t need just as a habit or because you are bored. Selfies for the social media cachet of a new outfit doesn’t cut it when you are saving for a house deposit or your wedding!

Put your spending money into a savings account as a direct debit before you get it in your household account so you don’t see it.

The real challenge is to make the decision to change your shopping behaviour and do something different.

The reward is healthy savings account with stylish mix n’ match wardrobe that didn’t break the bank.

Open up an account and put in the money you would normally waste going out and shopping or you may go to the raffles or bingo once a week with friends stash that away.

You can still go out with your friends to the events just don’t participate for a couple of times and reward yourself once a month instead of every week.

You don’t have to miss out or feel deprived there are many other and great activities and groups to join that are very social and have activities to try different things if it tempts you.