“Shopping is the best cure for a bad day!’’
Ever discerned yourself scratching your head at the end of the month pondering where all your money disappeared? We all have them – bad spending habits that bankrupts us on a monthly basis! Moreover e-payments have separated us from the physical cash in hand needed for purchases. This drives the shopaholic in us to shop with greater reason all the more.
Also with the fresh demonitization policy announced, the use of plastic money has become an imperative substitution to paper money.
Nonetheless, it would be a blunder to reject the convenience of the debit card because you fear spending more than you can perhaps possibly earn. Although the growth in technology has made spending easier, there is some good news. It also provides you with personal assisstance to control your daily expenses. Use it well and it can help you stay out of debt.
- Make a list before you shop . Research confirms that preparing a shopping list can serve to trim down your expenses by almost 20%. However, it is significant to stick to the list prearranged, not modifying it as and when the urge to buy swells further.
- Find cheaper deals online. You can avail good shopping deals and on one tap obtain various discount coupons. This can help you save on some good amount of money. Big companies such as Amazon offers black Friday deals. They provide with good discount offers on a purchase. This helps you to buy products at discounts that extend upto 80%.
- Think, Think, Think! Ask yourself if you really need to purchase that branded pair of shoes. Or can you settle with the existing ones you have?
- Don’t go for the most expensive product in the market. Substituting it with various cheaper alternatives is also a thought to be considered before you shop.
- Try a spending tracker. Several mobile applications connect directly to your bank and credit accounts. This helps users to create budgets with numerous spending categories. It also alarms the users when the amount has been utilized.
Some of these apps, for Android as well as iOS devices, are:
Mvelopes provides you with precise information according to how much has been spent under each category of your monthly expenses. It shows actual funds available with the user on a real-time bases. The users thus have the statistics ready that are required at your fingertips. This helps in making accurate spending decisions. Effectively, you can control your money wisely.
Money View is also a similar app specifically for Android users. It assists you to keep a track on day-to-day spending and manage your bank savings accordingly. The user is also not required to reveal his/her name and the personal bank account details. This provides the users with certain confidentiality. All the necessary information required is accessed by tapping the user’s SMS data.
Mint offers its user with the additional benefit of receiving certain particular alerts. This happens when there have been unusual account charges and unusual account transactions taken place. This helps to maintain strict security provision for its users. Also, it keeps updating on smart custom tips for reducing account fees and thus saving on money. Additionally, it provides with a free credit score on the monthly expenditure of the customer.
“Don’t forget to ‘Shop Smart’!”