Most of the difficult thing to do is controlling the urge to spend and come back quietly. Before a decade it was only shopping malls and few streets which hosts big brands for buying things. Now it is like everything in your mobile. On top of it you get discount offers as notifications and you have special weekend offers to re-think again.
If you are a marketing person you can easily identify, most of the FMCG brands place their products in the eyes of kids and other things in front in the first week of the month. This has been the tactic which made sales higher. As there are much more to compare, lets have 2 sections to see in detail on how the spending pattern have evolved
Before a decade :
1) No Super markets to choose
2) Lists are prepared and then only we go to the shop
3) No extra expense as we may not know what is new in the market
4) Monthly budget will not vary much
Current scenario ;
1) No list preparation
2) Left out is bought when ever in need
3) No idea about monthly cashflow
impact of no prepared list ;
Shopping list is very important if you are someone who have fixed income and needs to worry about if it goes beyond a limit. Unless you reach that situation it is wise to have a monthly budget.
If you remember many of the Billionaires have become bankrupt because of one wrong decision at the wrong time.
Your Shopping list is just your Check list, else you end up buying so many other unwanted stuffs. Warren Buffet sums up beautifully,
“If you buy things you do not need, soon you will have to sell things you need.”
Think of going to a shopping mall where there is a raining discount, if you are left with just 25,000 you will end up buying only till that amount. Think of a situation where you have a credit card which has limit of 3 lakhs, now you are mind or inner voice use this credit card limit to buy things at fair price.
If you listen to your logical mind, it is wiser decision to buy things using virtual money or buy things on DEBT. Virtual money is a debt if you dont pay it on time. As said before if you are someone who depends on monthly income, then you shouldn’t buy things on debt and pay in EMI’s later.
How to Prepare shopping list ;
- Have a monthly budget and stick to it.
- Know your monthly cashflow.
- Accumulate money every month as miscellaneous, for buying your dresses and for your personal grooming.
- Decide when are you going to buy like festivals or important day in your life.
Earlier it was just window shopping meaning you will just see the price and come. Now you have the option of adding it up in “your wish list “ in Amazon and Flipkart. So these guys keep sending mails and notification to make us buy using the lighting deals. There is 100% chance of end up buying things.
It is going to be raining deals during independence day and in the following festival season,
Enjoy shopping !