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Although Gen Z is the generation most interested in buying, they are also the generation most interested in spending carefully, according to a study of 1,300 Vogue and GQ readers. So for young shoppers looking to save money without sacrificing quality, GOBankingRates rounded up the best shopping tips from money management experts.
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1. Buy items out of season
Certain high-end items, like winter coats or bathing suits, are much cheaper if you wait until they’re out of season. Waiting can also save you money on technology like high-end smartphones and cameras.
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“When technology companies are about to release an update, previous editions are often discounted at a lower price,” says Danielle Miura, CFP, founder of Spark Financials. “Then you can update the software when the technology is released.”
2. Buy in bulk
Buying in bulk can save you money in the long run. But be careful: make sure you use this tip only with items you know you’ll use a lot.
“For example, if you know you’ll use multiple bottles of a certain shampoo over the course of a year, buying them all at once can save you money in the long run,” says Samantha Hawrylack, co-owner of Money Management. blog How to shoot.
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3. Check reviews before buying online
Read multiple reviews, good and bad, on an item before you buy it. Doing so can save you time, money and the frustration of returning a poor quality product. Reviews can also protect you from scams.
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“Scammers can make websites and listings look legitimate,” says Hawrylack. “Take a look at the ratings and comments from other buyers. The more reviews and the higher the rating, the better. Read the fine print carefully to make sure what you think you’re getting is what they’re really selling.”
4. Try renting instead of buying
“For items that are expensive to buy, try renting them,” says Miura.
This advice is best applied to items you don’t need very often, like a fancy dress or tuxedo, textbooks, and specialized tools for DIY projects.
5. Use coupons and discount codes
Check your mailbox, email inbox, and community newspapers for coupons for items or services you need, like groceries, clothing, haircuts, or lawn care.
“If you plan to make a purchase online, always check if there are any promo codes for the electronic tailor or the company website,” says Nathan Liao, founder and CEO of CMA Exam Academy. “Sometimes you can be rewarded with a small discount just by subscribing to the newsletter.”
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6. Look for quality over quantity
Sometimes quality items outperform their discount counterparts, especially when it comes to clothing.
“Having 10 good-quality outfits in your wardrobe that you can mix and match makes clothes more affordable,” says Miura. “And hopefully, they will last longer.”
7. Browse thrift stores and join Facebook giveaway groups
With thrift stores, you can usually get the quality brands you love at a significant discount. Just be sure to check the garment for rips or stains before you buy it.
You can even find quality articles that are completely free, if you know where to look.
“Join your local free group/don’t buy anything on social media,” says Hawrylack. “These pages allow members to search for items that others are giving away for free. Or you can let the community know what you’re looking for.”
8. Check restaurant websites for specials and happy hours
Whenever you’re dining out with friends, be sure to check the restaurant’s website first for deals. Menus do not always list discounted specials for that day.
“Restaurants sometimes don’t mention a special or happy hour that is on their website, but you can just mention it to them,” says Liao. “They will probably honor the deal.”
9. Don’t assume free shipping is cheaper
Have you ever been tempted by “Free shipping over $50”? banner that hangs over the websites of many retailers? Some 54% of Gen Z shoppers see free delivery as a major purchase incentive, according to data from the Global Web Index.
Avoid giving in to that marketing gimmick, though, says Liao.
“Often, you’ll end up buying an additional item that will end up costing more than the actual shipping costs,” he says. “Yes, it may be a small difference, but if you make multiple online purchases a month, the extra amounts you spend on items can really add up.”
10. Do your grocery shopping in person
During the pandemic, grocery delivery has skyrocketed in popularity. But now, users are beginning to feel its effects on their budget.
“Sometimes the last thing you want to do after a long day at work or on the weekend when you finally have a day off is go to the supermarket,” says Liao. “However, if you’re constantly asking for groceries to be delivered through apps like Instacart, those delivery fees and tips for drivers can add up, especially if you’re ordering groceries every week.”
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About the Author
Jenny Rose Spaudo is a Content Strategist and Copywriter specializing in Personal and Business Finance, Investing, Real Estate, and PropTech. Her clients include Edward Jones, Flyhomes, PropStream and Real Estate Accounting Co. As a journalist, her work has been featured in Business Insider, GOBankingRates, Movieguide®, and several smaller publications. He has also written a book and hundreds of articles for CEOs and thought leaders. Before going freelance, Jenny Rose was Director of Online News for Charisma Media, where she oversaw three online magazines, hosted a daily news podcast, and managed editorial content for the company’s robust podcast network. In 2014, she graduated summa cum laude from Stetson University with a BA in Communication and Media Studies and Spanish. During her college career, she won two awards for her research and was named “Top Senior” in both of her majors. Find her at jennyrosespaudo.com and connect with her on LinkedIn.
Source: www.gobankingrates.com