3 strategies to shop smart

In partnership with Les as de l'info

It's almost that time of year, with deals around every corner! Black Friday, Cyber Monday, Boxing Day … it's the season of sales. But you might have already figured out that these promotions just make you want to spend more. Angela, who knows money inside and out, has some tips to help you stay in control in the face of temptation.

 

TIP 1 – Remember the difference between wants and needs

 

Sometimes, when you really want something, you might feel like you need it. A gaming console, skateboard, new hat ... When you talk to your friends and parents about it, they can sense the urgency. But be careful: needs and wants are 2 different things!

 

Needs are essential. To live, you need food, water, clothing and safety.

 

Wants are when you desire something you don't have that isn't essential.

 

Angela, Financial Planner : "Needs are often the same regardless of age. Wants change over time. When you're a baby, you want a stuffed animal or doll to play with. When you're older, you want a smartphone."

 

Sometimes, it's hard to ignore a want! Angela shared 4 questions to ask yourself to tell if it's a want or a need:

 

• Do you need this to survive?
• Can you still use this in a few months or years?
• If this is something you need, can you find it somewhere else for cheaper?
• How many wants have you given into lately? How often do you buy things for fun? If it's been a while, you might be due for a treat.

 

TIP 2 – Set a limit and make choices

 

It can be overwhelming when there are so many deals! You might feel like you have to buy everything, or else you might miss out on an opportunity.

 

But remember that money doesn't grow on trees! Even when you're shopping sales, you need to set a budget.

 

Angela has some more tips:

 

"Sometimes during these sales, I set a limit, and I don't let myself go over. So I have to make choices. Most of the time, I'm happy with what I buy, and I like knowing that I was spending within my budget."
 

 

TIP 3 – Take the time to think about it

 

We all have moments when it's hard to resist a bargain, even for a money expert like Angela!

 

Her advice? Leave the store! She explained her trick:

 

"I give myself time to think about it and leave the store. Once I'm out, I ask myself these questions: 'Should I buy something else that I'll use more often? If I spend money on this, will I have to drop other plans because I won't have enough money for them?'

 

If I decide I can afford it, I go back in and buy it. Otherwise, I tell myself that there will be more sales!"

 

Do you find it hard to resist sales? Will you remember these 3 tips?