fbpx
Connect with us

Community

6 ways to save money for the online-shopping addict

In today’s day and age, shopping is just a click away for a growing number of people, and growing is certainly the word – presently, eCommerce sales stand at $660 billion in the U.S. alone, and this number is expected to surpass $740 billion by 2023.

While this is fantastic news for online businesses, the same cannot be said for those who struggle with online-shopping addiction. Indeed, many factors contribute to the worsening of this problem; these include attractive product placements on websites, the ease of payment, and convenient search bars.

Having said all of this, here are some effective ways to reduce or altogether eliminate unnecessary spending for the soon-to-be reformed consumer:

1. Write everything down

This practical tip comes from the saying “if you do not measure it, you cannot improve it”; in other words, the numbers have to be made visible and measurable so that they can be properly managed. Keep a notebook and make a note every time purchase is made. At the end of the week or month, total up the numbers – you might be shocked at what you see! To go the extra mile, break down spending into a set of categories and use them to track where your funds are going.

2. Pay yourself first

In other words, invest in your savings before selecting to spend money on that currently trending item you have your eye on.

To get started, decide on a figure to be set aside every month as savings (it is easier to do this in percentage terms based on income).

Then, make sure to put the money away immediately after deducting for essential expenditure such as bills and rental, and before hitting checkout on that pair of shoes.

3. Define financial goals

Often, we part with our money easily due to the belief that we have the funds to spare. While this may be true to an extent, this belief a lot of the time arises from a lack of financial planning. If this is the case for you, it will be in your best interests to carefully define the goals that you have in this area. Are you looking to invest in property or do you want to further your education; if so, how much do you have to save monthly to reach your goal? Asking such questions will get you on the path to a clearer and wealthier future.

4. Organise your space

What’s the connection?

Amid chaos and clutter, it is difficult to see all your possessions; this problem may lead you to purchase an item you don’t realize you already own.

Also, taking good care of your belongings and storing them inaccessible places will make it less tempting for you to buy even more of the same instead of channeling the money into savings or for settling the monthly bills.

5. Save for later

This invaluable tip works exceedingly well if you often find yourself making impulse-purchases. Next time the mood strikes to hit ‘checkout’, resist the pull to do so; instead, save the item on the website or, alternatively, in a folder. Revisit the item at a later time – you will likely find you are no longer interested in it. If you are, however, you may be happy to discover that it is now discounted!

6. Delete shopping apps

It is an obvious and foolproof method to banish the desire to spend your dimes on things you didn’t know you ‘needed’.

Still, if you are an avid shopper, chances are you would not want to be completely bereft of access to your favorite sites.

In that case, remove the corresponding apps on your smartphone and peruse them on your computer instead – this will afford you more control overall.

Note that all of these suggestions should be adapted to your individual needs where necessary. The aim is not to follow a specific method exactly the way it is written here; it is to be strict in adhering to your tailored approach, especially in the beginning until you fall into the habit.

 

Advertisement

Join Disrupt Magazine

Become A Disrupt Contributor
Become A Disrupt Contributor

Most Disruptive

Entrepreneurship1 month ago

Navy Veteran Davis Chris Takes the Music Industry by storm

In life, you need to break down anything that might be holding you back and change course if need be...

Entrepreneurship2 months ago

5 Disruptive Leaders Paving the Way in 2021

Where there is uncertainty, lies a whirlwind of opportunity. 2020 was the year that had entrepreneurs learn a great deal...

Politics9 months ago

Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President

We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...

Business10 months ago

John Mcafee – Predictions For The Future

John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...

Finance12 months ago

Gaby Wall Street – Teaching Latinas to Thrive During The Crisis

It’s no secret we are facing one of the most challenging financial times of the last few decades as we...

Entrepreneurship12 months ago

Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico

Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...

Entrepreneurship1 year ago

Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women

The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....

Marketing2 years ago

How Josh Elizetxe Built Snow Into a $40 Million Dollar Business

There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...

Entrepreneurship2 years ago

How Jason Capital Became A Self Made Millionaire By 24

Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...

Entrepreneurship2 years ago

Sam Bakhtiar On His Way To A Quarter Billion

Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...

Trending

Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.