We’ve all been tempted by the Boxing Day sales, with the promise of massive savings on much-needed items. But is that dress that’s two sizes too small, or that new laptop you didn’t even know you needed, really worth it? Or has it all been a clever ploy to make you part with your money?
Here are some techniques to stop you over-spending this Boxing Day.
Don’t pay half-price for something you wouldn’t pay full price for
As tempting as it can be to buy something because of its massive saving, if it’s not something you would have bought at full price, you’re probably being swayed more by the saving than the actual item. Put it down and move along!
If, however, you come across something that you’ve been needing for a while and the saving just makes it all the better, then buy it.
The 24-hour rule
Think you’ve come across something that’s too good to be true? Wait 24 hours, and if you still feel the same way, then go ahead. If the shine has worn off, or you’ve seen something better, you know it’s not a must-have item, and should be left on the shelf.
Cost per wear
This is great for working out if an item of clothing, footwear or accessory is worth buying. To work out the cost per wear of an item, divide the price by the number of times you estimate you’ll wear it. The more times you think you’ll wear it, the lower the cost per wear. Think about this simple formula every time you come to make a purchase, and you’ll soon start making wiser choices, especially in the sales.
Shopping isn’t a competitive sport
It’s easy to get swept up with huge sales, and the promise of an early access email. This is designed to make you think things are in short supply and pit you against other consumers – this is what brands are great at. Shops use clever psychology techniques to make you spend money on unnecessary items, but once you know that, you can start to see through these ploys and become a savvy Boxing Day shopper.
Make a list
If you’re determined to spend and save on Boxing Day, then make a list. Not only will this help you manage your personal finances, but it will ensure you don’t end up with unnecessary items that you’ll only have to put on eBay at a later date.
Worrying statistics show that nearly 5 billion pounds of retail returns will end up in landfills, so it’s worth bearing in mind when the sales come around whether you really need that item, or if you’re contributing to the growing rise of planet pollutants.