Young Americans Blog

Concept of the Month: Savvy Shopper

Gift boxesThe holidays are quickly approaching which means you will likely be doing some spending!  Whether you’re buying gifts for friends and family or thinking about what to buy with your own holiday gift cards or cash, Young Americans Bank has some tips to help you spend smarter.

Budget

Set a spending limit for yourself and stick to it.  When you’re limited in what you can buy, you usually make better choices.  Taking time to plan your shopping list in advance gives you time to shop around for deals.  It also saves you money because helps ensure you buy only the items on your list when you shop.

Think before you buy

Before you head to the checkout register or online shopping cart, think, “Do I really need this?”  It’s your money, so you need to think about how you want to spend it.  If the purchase is a gift, will the recipient truly like it, or do they really need it?

Compare, shop around

If you find an item at a store or online, check around to ensure you’re really getting the best price.  Just because an item is on sale doesn’t mean you’re getting the best deal.  Also, see if you find a similar item for a lower cost.

Resist impulse shopping

Avoid buying things on impulse–just because it looks neat doesn’t mean you need it!  You usually don’t buy things you really need you shop this way, and you’ll probably spend a lot more money.  Make a list before you shop and stick to it.

Buy the basics

Some of the best gifts come from the heart!  Use your time and talent to make gifts (rather than buying gifts) for friends and family.  Use your money to buy basic, usually more inexpensive materials.

Spend, save, share

If you receive money from friends or family this holiday season, don’t spend it all right away.  It’s a good idea to set some aside for your savings account and to think about how some of it can go to a good cause.

Once you have a plan, you’ll be much less likely to regret your spending this holiday season.  Thanks for reading and happy shopping!

 

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