Do you when it’s the right time to splurge, settle, or skip during your shopping spree?
Let’s talk about shopping scenarios: you go outside for a walk, and you see a stunning pair of shoes, and you think about how good you’d look with them. You walk half a mile, you see a gorgeous cafe, and you think about grabbing a snack. You then continue with your walk and notice a billboard advertising a new online shop.
With so many things available today, how do you know when it’s time to shop or not? Do you splurge on a new phone, or do you keep the money for a much-needed vacation? You see more and more brands coming with deals, new products, samples, online shops, pop-ups at festivals, and so many other things that it’s impossible to stay away from them.
Having a decision-making framework to guide you through these kinds of purchase decisions is a terrific approach to making sure you’re saving money and avoiding wasteful spending. We talked to shopping experts about all the shopping scenarios when it’s best to splurge, settle, or skip, and we’ll share everything with you. It’s not easy to say no to something you think you want, but you’ve got this. So, to buy or not to buy? That’s the question! Let’s find out together!
Shopping scenario 1: meat and produce
Even if you want to save as much money as possible, shopping scenario no. 1 is all about food, and sometimes it’s best to splurge. This can mean getting higher-quality meat and produce, which will only benefit your health in the long run.
You can still save money, though. You have to look for sales when you have the chance and stock up on things you know you’ll use. Put what you don’t need in the freezer and consume it when needed. Do you prefer to splurge or get more affordable options when it comes to food? Let us know in the comments!
If it’s hard for you to carry grocery bags each time you go to the store, I recommend you check out this amazing cart that will make everything easier and more comfortable!
Shopping scenario 2: skincare products
If your skin is sensitive or you suffer from different conditions, such as rosacea, acne, or dermatitis, you probably need dermatologist-approved products and not drugstore ones. In this case, it’s best to splurge, so you treat your skin the right way and avoid additional bills at the dermatologist’s cabinet.
However, we don’t say you need to spend hundreds of dollars on a cleaning gel, but something that contains the active ingredients you might need. These products tend to be pricier than those available at drugstores, but they will last you a long time and make your skin glow from the inside out.
Shopping scenario 3: appliances
Some shopping experts say that they’ll splurge on any item they plan on using for at least 5 years, and that includes appliances. Whether it’s a new TV, a fridge, or a dishwasher, you surely want to make the most of it, right? Then it’s a smart idea to get one from a brand you trust, even if the price might be a hard pill to swallow.
Even though you prefer to buy a higher-priced item, that doesn’t mean you should avoid deals whatsoever. Check out store discounts and coupons, and don’t forget about the sales on Labor Day, Memorial Day, Black Friday, or Cyber Monday.
Shopping scenario 4: fast fashion and sustainable clothing
My wife taught me this, and I couldn’t thank her more. The clothes you find in malls or other stores, those that are cheap and whose fabrics are thin and synthetic, are usually fast fashion products, and they won’t last you a long time. My partner told me to stay away from them because they’d get ruined fast, and I would need to spend money again to get new ones.
On the other hand, she told me to focus on getting items made from natural fabrics that will last me a long time. They might be expensive, but they’ll be in your wardrobe for a long time, and you can mix and match them to create multiple outfits. Of course, you can also check out thrift stores and get higher-quality items for a bargain, so I wouldn’t sleep on that either.
Shopping scenario 5: air travel
How do you choose to get your flight tickets? We like to settle for the best option at the best fare. This can mean taking a late-night or early-morning flight with layovers to save money.
However, if I have to travel with my young grandchildren, I prefer to pay a little extra for a flight with more accommodating departure and arrival times and with no layovers. I always like to search for flight tickets that are the most affordable (don’t forget to search for them using Incognito mode, so you’re not charged extra) and have more money for accommodation and places to visit.
Shopping scenario 6: convenience purchases
Sometimes you might not find your favorite product in a store close to your home, but you’ll find something similar in quality and price. If the item you need is a few blocks away and it costs you time and money to get there, I recommend you settle for a similar product.
For instance, I was once looking for a specific shampoo, and the one I found in the store in my neighborhood was almost $1 more expensive than the one available in the other part of the city. I decided to pay the extra dollar rather than drive to the other store and waste money on gas. Long story short, it’s better to settle when you can save on other important things, such as time or gas, and stick to the items you can find (as long as they’re of the quality you need, of course).
Shopping scenario 7: things you’ll never use
My wife has a problem with buying things that look good, and she saves them for special occasions, like outfits, silverware, and dishware. What’s the point in splurging if you won’t make the most of these products? We had long conversations where I tried to tell her to use the things she got and not wait for Christmas to take out her favorite plates.
If you’re like her and you can’t be convinced to use the items you’ve splurged on, it’s probably best to settle for lower-priced and probably lower-quality ones too, since you’ll use them often and they’ll wear out anyway. Do you agree with this one? Let us know in the comments below!
Shopping scenario 8: extended warranties
If you purchase electronic gadgets, you might feel pressured to spend more to preserve your investment. However, several experts advise against paying for the extra warranty. This is because, according to Consumer Reports, there’s little chance that an appliance would require repair during an extended warranty period. And if it does, the cost of repairs won’t be significantly more than the warranty’s cost, so you don’t save anything extra.
Shopping scenario 8: overpriced items
Whether it’s fancy cars, electronics, clothing, accessories, or exquisite foods, it’s a good idea to avoid things that are way over the budget, especially if you don’t need them. It doesn’t matter if your friends keep telling you how good an expensive vacuum cleaner works. You can always find an affordable option that does the job just as well. And to be honest, the same rule applies to every overpriced item. Sometimes, what you pay for is the brand, not the product’s quality.
Shopping scenario 10: cheap toys
If you have small grandchildren, you probably don’t want to invest in expensive toys that might end up being broken anyway. However, just because they constantly ask for new toys doesn’t mean you should get them the cheapest version. They will break even faster and can be a total waste of money. To make the most of your buck, you can stick to durable items such as building sets (such as this cute one) and blocks that also spur your little ones’ creativity.
Do you have any other shopping scenarios where it can be difficult to know whether you should splurge, settle, or skip? Share them with us, because we’d love to know! If you find this article helpful and you’d like to check out something else from The Price Makers, here’s a good post for you: Free Money? Here Are 7 Sure Ways to Get Them
