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Spend Smarter Guide
How to spend smart all year round
25 October 2023
Summer sales. Black Friday. Christmas and Boxing Day sales. There are times throughout the year when it can be hard to resist splashing out. Here are six top tips for staying on top of your spending, even when sales seem to lurk around every corner.
This article includes tips, suggestions and general information. We recommend that you always do your own research and consider getting independent tax, financial and legal advice before making any important decision.
Brace yourself
Brace your bank account by increasing your savings contributions in the run-up to the shopping calendar’s big moments. When you have more available to spend, there’s less risk you will spend beyond you means.
Have a game plan
Plan ahead for what you want or need to buy. Stick to that list and you’re less likely to get sucked into impulse purchases. Take stock of what you already have so you know if it really is something you need.
Know your limits
Set a limit for how much you can spend, then ringfence the money in a payment app or separate bank account. You’ve got far more chance of sticking to it.
Seek bargains, not sales
Everyone loves to see a 50% off label. But a sale item is only a bargain if you planned to buy it in the first place – and if you can afford it. Go back and review your list to see if it’s something you need or just something on sale.
Don’t ‘pay’ for free shipping
Think carefully before topping up your cart to get that tempting free shipping offer. Unless the other item is on your list already, it’s best just to pay the postage.
Stay on track
Whether it’s gifts for loved ones or gifts for yourself, keep tabs on how much you’ve spent and what you’ve bought. Check your payment app or bank account regularly – seeing the numbers makes it real. You’ll know what money is still available and cuts your risk of overspending.