SMART SHOPPING

HOW TO SPEND YOUR MONEY WISELY

Spending may seem like the easy part of managing your money, but there are many tips and tricks that can help you save. 

As you make smarter decisions with your money and think carefully about your purchases, you will notice that saving a little with every purchase adds up over time. Using a budget and learning to plan your purchases can make it easier to save money. 

The key to spending is to stay within your means. Don’t spend more money than you have. As you plan to shop, make sure you keep your goals and your budget in mind.

THINK BEFORE YOU SHOP

When you make a decision, you are often weighing a lot of factors — not just how much money you’re going to spend. 

Before you make a purchase, look at lots of different options to make sure you’regetting the best deal. Rather than buying the first expensive pair of shoes you see, plan ahead to make sure you are getting the best value by researching quality and comparing pricing at different stores — this is called comparison shopping. The exact same pair may be cheaper at another store. 

If you want to go to a concert, there may be add-on ticket features you want. When all you need is a basic ticket, you may sacrifice the features you want to save money, while still enjoying the concert.

SO MANY WAYS TO SAVE

When you do finally decide what to buy, you’ll notice that you usually have a few options, such as name brands or generic items. 

A name brand is recognizable; if you see one of its products you are likely to know the manufacturer. A generic brand item is one that typically isn’t advertised. Many grocery and multi-purpose stores have their own generic versions of products. Most of the time, there’s no significant difference between the two items besides price. Generic items are usually less expensive — making them a great savings opportunity.