About 5% of the American population suffers from compulsive shopping. And, consider yourself a member of this club if you cannot stop making massive purchases. Having a loving family means you should prepare yourself for many fun filled moments as well as a number of surprises. Blame your lack of self-control when some of you just cannot resist the temptation to hit the stores and start buying things.
Even shopaholic moms feel stressed when they think about what products to buy every time they go shopping. When it comes to finding the best ‘formula’ for family finances, all you have to do is get started now.
Saving money and managing family finances is not a difficult thing to do when you are prepared. If you think you are the only one who wants to run and hide with the thoughts of slashing your spending, it is time you think again. You are a shopper and love the thrill of hunting for new things, but the only way to stay stress free is setting a goal for your family finances.
Time to become a Smart Shopper
Scrutinize Your Grocery Bills
Smart shopaholic moms stick to a budget and look out for the best deals. So you can start with your grocery bill. You can easily cut down your spending by taking out time for planning your menu weekly. Write down the list of ingredients you need for the week and make sure you don’t forget the weekly grocery sales. Also, keep your cookbooks handy that will help you plan a delicious menu for the coming week.
Use Credit Cards to Your Advantage
Many have settled their credit card debts easily, and even you can handle your family finances in a better way by becoming a ‘credit-savvy’ shopaholic mom. It only takes a little as 15 to 20 minutes to get a quick update about your financial standings. Keep a record of your monthly spending and see where exactly where you are using your credit card. There are chances that you come across a number of areas where you can make a change and help your family finances get better. Just make sure you only use your credit card when you cannot do without it.
Change Your Shopping Behavior
If you love to buy everything brand new, there is no question that your family finances will be in poor shape. Often overlooked, changing your shopping behavior is the magic formula to bring down your spending. Try to buy in bulk, and this should start with your grocery shopping. This is usually the largest category where you spend money and there are so many different ways you can whittle it down.
When you need to buy a product, go for generic and store brands instead of big brands. Not only can you find products at cheaper prices, but you can also prevent your family budget from going out. You can find quality furniture, DVDs, home décor items, kitchen appliances and similar accessories at best prices at secondhand stores and online bargains.
You can use a credit card to make purchases, but many stores offer lucrative discounts if you pay cash.
Go For End-Of-Season Sales
If you really want to save money, you can buy clothes and other accessories for the next year during end-of-season sales. You probably won’t notice, but your pockets will surely feel a lot better when you buy at the right price.
Choose the Right Entertainment Options When Going Out For Shopping
And finally, make sure you skip the highly priced entertainment options and go for ones that suit your budget. Even if you love sipping fancy juices and coffees when out shopping, you need to change your habit. You can make coffee at home and fill your travel mug. Your favorite beverage will be ready to go with you and there is no need to make painful adjustments to your monthly budget.
Not many of you realize this, but the extra cost of buying food and drinks in a mall can really add up on your spending. By breaking your fancy coffee drinking habits, you can save lots of money for better family finances.
In addition to ideas mentioned above, you can use your own creative thinking to cut down extra costs and watch your savings grow.