Online shopping has become a convenient and popular way to purchase the products we need and want. However, with the ease of online shopping comes the temptation to spend more than we might in a physical store. It’s easy to get caught up in the excitement of finding a good deal or adding just one more item to our carts, but before we know it, the total amount has skyrocketed. This article will explore practical ways to save money when shopping online. This way, you can enjoy the convenience of e-commerce without breaking the bank, which is especially useful if you’re on a tight budget or trying to lower your family’s expenses. By following these tips, you’ll be able to shop smarter and stretch your budget further.
How to save money when shopping online?
The internet has drastically changed, or better yet, revolutionized, our shopping habits. Despite spending about 10 hours per month shopping, like ten years ago, Americans now do most of their shopping online. According to the U.S. Census Bureau, Americans have increased their e-commerce spending by over $110 billion in the past decade.
However, it’s still important to find ways to save money when shopping online. After all, if you want to learn how to manage money, discovering ways to save is crucial. So here are some simple tips to get you started on your budgeting journey.
#1 Make a shopping list
Before starting your online shopping spree, ensure you have a clear idea of what you want to buy. This will help you stay focused and avoid getting distracted by unrelated items or spending hours switching between stores. Therefore, list potential purchases to clarify your needs and distinguish them from “nice to have” items. By eliminating unnecessary items from your list, you’re already saving money.
While your primary goal is to get the best value for your money, keep in mind that going for the cheapest option is not always the most brilliant move. There are plenty of reasons why you shouldn’t go with the cheapest option. For instance, let’s say you’re about to move to a new city, so you’ll need to hire movers. One of the biggest mistakes when searching for movers online is to go for the cheapest option. Instead, thoroughly research different offers and know what’s included with them.
#2 Compare prices
Nowadays, you don’t have to spend hours researching stores and looking for the best bargain. In fact, even the days of manually checking different websites to compare prices are far behind us. Now, there are many price comparison websites with search functions that make it easy to find the lowest price. There are even plugins you can install that will help you find the lowest prices. For example, PriceBlink is a free browser extension that automatically finds lower prices while you shop.
If you often shop on Amazon, you should try the Camelcamelcamel website, which tracks and compares Amazon prices. Or, if you want to compare Amazon and eBay, try Pricepirates. But you can never go wrong with Shopping.com, which researches worldwide options. Note that the prices on these websites or plugins may not include shipping, warranties, and other services, so the final cost might be slightly higher.
#3 Leave your shopping cart full and wait
One trick to try when shopping online is to wait to purchase items you don’t need immediately. First, go through your shopping list and identify the things that can wait, such as “nice to haves” or other non-essential items. Once you find the item you want online, create an account on the merchant’s website and add the product to your shopping cart.
Now, the tricky part is waiting to see if the retailer offers a discount code to close the sale. You might receive email reminders or see ads for the product on other websites (called retargeting), but don’t be swayed by urgency tactics like “last chance” or “only 1 item left in stock.” If you’re patient, you might score a significant discount.
#4 Sign up for loyalty programs
Being loyal to certain companies and brands can pay off in the form of rewards programs that allow you to earn points on your purchases. Later on, you’ll be able to use these points to redeem discounts. If you frequently buy the same products from certain sites (e.g., a specific skin care product or coffee), it’s worth checking if they have a reward program you can join.
It’s also a good idea to use a separate email address for these marketing emails to keep them separate from your other mail. In addition to airline and credit card reward programs, many retailers also offer their own programs. Check app stores to see if your favorite stores and brands have apps that let you collect points on your purchases.
#5 Set your online shopping budget
If you’re trying to save money or manage a tight budget, it’s a good idea to determine a budget for your online shopping. Having a plan in place will help you resist temptations like free shipping on orders over a certain amount, buy one get one free offer, or discounted “related products” that you don’t really need.
You should use your shopping list to help you determine your online shopping budget. Your essential, non-negotiable items that you need to buy online each month represent your fixed costs. Calculate the total amount for these items. Then do the same for your “nice to have” items, which are your variable costs. Now you can see how these items fit into your overall budget. Easy-peasy!
Wrapping up
From setting a budget and making a list of necessities to comparing prices and using coupons, there are plenty of ways to save money when shopping online and make the most of your online shopping experience. Don’t be afraid to get creative and try different techniques to find what works best for you. On top of that, you can always research more financial tips and create a detailed budgeting strategy based on them. With a little planning and effort, you can save money while shopping online and make the most of your budget.
