Beat Inflation by Saving on Your Shopping

Voting to leave the EU brought with it a high level of uncertainty. Leading up to the vote, many observers automatically assumed the worst, predicting dire outcomes for every aspect of the British economy. As circumstances unfolded, conditions didn’t slide downhill as quickly as many people expected, but there have been some negative financial impacts for consumers. Among them, stubborn inflation has made the cost of everyday items climb higher.

There is more than one way to deal with decreased spending power. Out of necessity, many Britons have clamped down on unnecessary expenses, using caution and discipline to stay within their budget limits. If you want to join their ranks, saving money on your shopping is a great way to dial back the pressure from inflation. Whether you’re evaluating the cost of a no-credit-check loan or seeking savings at the supermarket, use these proven rules to keep spending in check.

Limit Buys to True Necessities

It is easy to get caught-up in the consumer lifestyle, prompting purchases you may not really need to make. Before pulling out your credit cards or throwing another item into the trolley, ask yourself one of the most important questions shaping your personal budget: How much do I need this item? If it keeps you fed or housed it might be a necessity, but if a fleeting impulse is behind the desire to buy something; chances are you can do without it.

To be sure about the things you buy, give yourself a waiting period before making purchases. A day or two creates a window to examine spending decisions and might even find a better price in the meantime, saving money on things you can’t do without.

Don’t Let Marketing Control Your Purse Strings

The cards are stacked against you as a consumer. Not only are manufacturers in the business of promoting their products, but stores and online venues are tasked with reaching out and closing sales. Without personal discipline, marketing and promotion are in control of your budget. Not only does marketing pressure move you to buy consumer goods you don’t need, but it also convinces you that the most expensive brands are your only option.

At the supermarket, there are multiple tiers to choose from, starting with premium brands and descending to value-priced alternatives. Stepping down a level can save substantial sums at the checkout, without sacrificing preferences. If you do notice a quality difference you can’t live with, it’s always possible to move from own brands back to branded products on your next shop. But if dropping down a level doesn’t interfere with the flavor of family favorites, avoiding brand premiums will save you money every time you shop.

Shop for Bargains Online

The trend away from brick and mortar stores is nothing new; people are increasingly sourcing consumer goods online. As distribution and availability have ramped-up, more and more money saving opportunities are reserved for online shoppers. High street may suffer from the trend, particular during the holiday shopping season. But for families struggling to cover costs with limited resources, online bargains present an attractive alternative to overpaying in person.

Shipping costs have long been an obstacle to remote shopping savings, but many online venues now offer free or inexpensive delivery alternatives, equalising the offers extended locally. Where heavy and bulk items once made online shopping inefficient, you can now order larger quantities, without getting buried beneath the weight of delivery fees. You can also use the World Wide Web to save money by searching for coupons online. Offers found online aren’t always restricted to web purchases; you can often print them out or pull them up on your mobile for use at your favorite local markets and other retail outlets.

If you’re feeling the pinch from sterling’s inflationary slide, saving on your shopping can help you make the most of your financial resources. For fast results, use online deals and sensible shopping to keep more money in your pocket, and don’t fall prey to the marketing machine, working to squeeze your last pound.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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