Might be the oldest trick in the book but you MUST always compare prices. The fact that you can now check products and prices online means it makes comparison a lot easier. Use online engines if you can or do manual searches. Find out which retailer is selling cheaper than the others and then make your decision. Never jump to the first offer you see because there might be hidden costs like processing fee, admin fee, delivery charges and other hidden ones.
Buy what you need not what you want
You can never buy enough of things you want. 90% of the time, you do not need shoes things. So, choose wisely. Think hard before you buy and only purchase them if you really need them. If the item can wait, then let it wait. Chances are you would forget that you wanted it in the first place. If it is one item you really, really want, then make sure you have done enough homework. Compare prices before making the buy.
Prioritize your purchases
Always make a list of things that you need to buy or pay for. The ones at the top of the list are those that you MUST have for instance, paying of your bills and credit card balances. Then, move your way down. Groceries and toiletries should be next before going for items that you can live without. If you can really live without them for now, then they should not even be your priority in the first place!
If you are buying an expensive product, NEVER EVER assume anything. Always make sure that you are paying for what you want and ask questions. In fact, ask a lot of questions until you are fully comfortable with what you are getting. Crucially, always check for defects and if you see anything amiss or you are not satisfied with, ask for a new unit. Once you have taken the item home, it is very difficult to take it returned, so always be sure.
No Free Lunch
Any special offer can be too good to be true. There is never, any free lunch. So, if the offer sounds to unreal, then there must be a catch. As a consumer, you would be aware that you need to pay for everything. They will never give out anything for free unless they know that they will get back something in return. In fact, what they give out, they intend to get back at least 2 or 3 fold. So be careful!
Check your bank accounts
Whenever you use your credit or debit card, check your balances after buying something. Make sure that the amount that has been deducted coincides with what you paid for. Don’t assume that it is correct just because the receipt says so. If the deduction is higher than you paid for, then file a report immediately with the retailer. If the retailer refuse to entertain you, call the bank or lodge a police report.
GSTs, SSTs, VATs
Always know what you are paying for when it comes to taxes. Whether it is the Goods and Services Tax, the Sales and Service Tax, Value-Added Tax or just about any form of governmental deductions, make sure you have to pay for them before even completing the transaction. Only certain countries practices such taxes, so you need to know what and where you are buying the item. If you are a visitor, you should be able to get them reimbursed.
The best way to pay is to use cash. If you really have to pay by card, then use a Debit Card where possible. Credit cards are convenient but it might spiral out of control. Debit cards ensure you have enough cash in your bank account so you are literally spending using cash. So, that would be a much better option as compared to going credit where you are spending beyond your means or your ability to pay back in the future.
If you are using credit cards to pay for your purchases, check for your eligibility to collect points. Every card from every bank comes with some form of reward points that you can collect which comes with rebates and such. If you manage this properly, you actually pay a lot less for your purchases than you can imagine. Ask the bank if you are not sure and you could be well in a treat to saving more on your spending.
Some items are best shopped online. This helps to reduce your cost since you do not have to travel to the mall or to a retailer. As a result of this, you save on petrol, traveling time and parking if you are driving. If you take public transportation, you save on fees and charges. By shopping online, you need not go to these places which will help you to get tempted to buy more and shop more as well.