7 Thrifty Shopping Strategies during a Pandemic

In an uncertain financial situation during a pandemic like this, we certainly need to spend sparingly and shop more carefully. Because, if all of the above needs are met, but income is stagnating, it might cause new financial problems, such as running low on emergency funds, draining savings, or worse, increasing debt. You don’t want this to happen, do you? So, so that you can still meet your needs wisely, consider the following seven frugal shopping strategies during the pandemic.
Thrifty shopping strategy during the pandemic
1. Budget a monthly shopping budget
The main principle so that your income is not drained for shopping is to set a maximum spending budget, for example 10% per month. This means that you can only spend the maximum amount to meet your needs. Allocating this budget is important to avoid you from impulsive shopping. By allocating a tenth of your salary to spending, you still have another 90% that can be used for: 30%-40% monthly expenses, 30% for investment, protection, and savings, and 20%-30% to pay credit installments if any.
2. Set priorities, shop according to the most urgent needs
If it turns out that the needs you want to buy are greater than 10% of the budget you have budgeted, then it’s time for you to make a priority scale. For example, in the current school from home (SFH) and work from home (WFH) era, of course the need for the internet is more important than the need to buy additional air conditioners. You can also postpone shopping for bicycles so that you can buy more urgent needs, namely gadgets to support SFH or WFH.
3. Prioritize shopping for discounted products, promos, or cashback
In times of a pandemic like this, many online stores and marketplaces are cutting prices and providing promos. Physical stores in malls also offer discounted prices and open online stores so that their products continue to sell well during the current weak economy. So, don’t rush to buy things. First, look for the products you are after and compare the prices of these products in several online stores or marketplaces. This is to ensure that you get the best price.
4. Avoid shopping with debt
No one knows how long the pandemic will last. So, no one can predict how long the economy will be depressed. In this sluggish economy, it’s important that you don’t add to your costs. Therefore, it is forbidden for you to shop using debt, especially those with large interest such as credit cards, unsecured credit, or online loans. Try to use a credit card only for 0% installments or immediately pay the bill the following month. This is to avoid interest that adds to the cost. Do not forget to record all the matches regularly. Among them, you can save on electricity token spending by using Bukuwarung
5. If the quality is good, you can also consider secondhand goods
If you really have an urgent need that can’t be postponed, but the available budget doesn’t allow you to buy a new product, there’s no harm in considering buying secondhand goods that are still prime. For example, you need an extra desk and chair for working and studying at home, or a printer for example. Currently, there are several marketplaces that you can visit to browse secondhand goods, including the items you are looking for. Not bad, the price can be cut by more than 30% of the price of new goods.
6. Save for big expenses
If the budget that you have allocated is not enough to buy necessities, then the solution is not going into debt. Instead, save this budget for a few months until you have enough funds to buy the items you need.
7. Adjust your lifestyle to the contents of your wallet
Live life as it is, according to the ability of the contents of the wallet. This advice can be your savior through an uncertain situation like today. If your current emergency fund is not ideal – at least three times for singles and a minimum of six times for those who are married – then don’t be wasteful for tertiary posts. If you want to ride a bike, you don’t need to buy a bicycle that costs up to tens of millions of Rupiah. Likewise with the hobby of collecting plants. If indeed you currently still have debt installments, plus low income, there is no need to force yourself to buy plants up to millions of Rupiah. There are many plants that are sold for under Rp. 50,000 which are no less beautiful and can add to the beautiful atmosphere at home. Other budget-saving strategies can click here