COURSE: FINANCIAL LITERACY
Comparison shopping involves looking at prices from different retailers before making a purchase, especially for bigger items. You can use online price comparison tools, check multiple stores (both online and in-person), and look for sales, discounts, and coupons. This strategy helps you find the best value for your money.
Advertisers use various techniques to encourage spending. Being aware of these can help you make more objective decisions. For example, limited-time offers create a sense of urgency, while "buy one, get one free" deals may lead to unnecessary purchases. By recognizing these tactics, you can resist impulse buying and make more thoughtful decisions.
Using cash or a debit card can help you stick to your budget more easily than credit cards. With credit cards, it's easy to overspend because you don't feel the immediate impact of the purchase. Consider using cash for discretionary spending to help you stay within your budget.
Buying used items can offer significant savings on many types of purchases. Thrift stores, online marketplaces, and swap meets are great places to find second-hand items. This strategy not only saves money but can also be environmentally friendly.
Many businesses offer discounts for students, which can lead to significant savings over time. Always ask if a student discount is available and keep your student ID handy. Also, check for online student discount programs that might offer additional savings.