Secrets to Save Big and Shop Smart

Ever wanted something so bad as you scroll through Amazon but then the very rational part of your brain halts you in your tracks like: do you really need it?

Online shopping has become convenient, quick, and effective but along with that comes the impulse buying and hoarding stacks of cardboard boxes of various sizes around your home. It’s tempting to press the “Add to cart” button and purchase products with a simple click.

So how do we shop smart, save big, and still satisfy our cravings?

“A man who both spends and saves money is the happiest man because he has both enjoyments.” – Samuel Johnson

Price comparison tools

Price comparison tools can help gauge whether you’re really getting your money’s worth by observing competitor prices, using real-time updates, and saving time. Our top picks for you include:

1. Google Shopping: A large platform that integrates with Google Ads, offering a wide reach for merchants.

2. Amazon App: Allows you to scan items in-store to compare prices with Amazon listings.

3. ShopSavvy: Specializes in tech products and includes a barcode scanner for easy in-store comparisons.

4. BuyVia: Offers barcode and QR scanners, making it convenient for both online and in-store price checks.

5. Honey: Stands out by not only comparing prices but also automatically finding and applying coupon codes.

6. Camelcamelcamel: Focuses on Amazon products, providing historical price data and price drop alerts.

Search for additional savings methods such as store coupons and membership, or loyalty discounts and factor in shipping costs as well.

Time your purchases strategically

Knowing when to buy what and identifying market patterns can make a huge difference to your bank account. Let’s break it down even further.

Seasonal Sales Calendars

Here are some predictable patterns for seasonal sales and discounts across the year.

• December-January: Winter clothing, holiday decor

• July: Furniture, home goods

• August: Back-to-school supplies, electronics

• September: Appliances, mattresses

• October-November: Halloween items, fall clothing

Shop During Sales events

Utilize major holidays and events to make your purchase including New Year’s Sales, Labor Day, Black Friday, Cyber Monday, Fourth of July Sales, and many more.

Set yourself a budget to avoid overspending, make a list of items you need to buy, compare prices, and act fast on the great deals. Always stay updated using social media to know when deals open and close!

End-of-Season Clearance Shopping

End-of-season sales happen regularly as retailers clear their inventory for new stock. Remember:

• Shop for winter items in late December/early January.

• Look for summer goods in July/August.

• Expect deeper discounts as the clearance period progresses.

To maximize savings, combine these strategies with cashback programs and rewards. Always prioritize items you genuinely need to avoid impulse purchases, even during major sales events.

Use coupons, codes and offers

To save big on online shopping, you need to know how to find and use coupons, codes and offers effectively.

Use Browser Extensions

To make finding coupons easier, try using browser extensions. These tools automatically search for and apply coupon codes at checkout, saving you time and money. Some popular options:

1. PayPal Honey: Works with thousands of retailers and compares prices on Amazon.

2. Rakuten Cash Back Button: Activates cash back and applies coupon codes automatically.

3. The Camelizer: Tracks price history on Amazon to help you judge if a sale is worthwhile.

4. Capital One Shopping: Finds coupon codes and offers cash-back opportunities.

Combine Coupons and Cashback for Maximum Savings

For our savvy shoppers, the real key to maximizing savings lies in combining coupons with cashback offers.

Let’s talk about how it works: after finding a coupon code for a discount, shop through a cashback website or use a cashback app to earn money back on your purchase. This lets you enjoy both the immediate discount from the coupon and the delayed savings from the cashback program.

PS: Some cashback programs you can try are apps like Rakuten or Swagbucks while some credit cards provide cashback options as well!

But this is also a dangerous game. Marketing and sales strategies hone in on the psychology of spending to encourage customers to buy more at every opportunity. “Free shipping for orders over $50” or “20% off for orders above $50” could lead to overspending without us even fully realizing that we’re being reeled in (I am definitely guilty of this, admittedly). If you really truly don’t need a product or it’s way out of your price range, don’t let a coupon or discount convince you that you need it.

Pause. Wait. Think Again.

Online stores will tempt you like mesmerizing sirens to sailors, using countdown clocks, warnings of limited availability (some may not even be true), etc. You can add the item to your wishlist or cart but pause and wait. Wait for a period of time (my trick is to wait a few weeks if it’s really not that urgent). By that time, you’ll realize that you actually don’t need this item or that you can travel to the store and bargain it at a much lower price.

Some items are essential, and not all immediate purchases are “impulsive”. If you need to order medication, please, don’t let this article hold you back. But some items are not urgent, you do not need another Stanley bottle if you have one sitting right on your desk. Though the temptation may be real, saving up for the future is playing a long and patient waiting game which essentially pays off in the end.

This leads to our next and final point, one that many don’t even consider.

Play the game: cart abandonment strategy

Our final tip to you, but may be one of the lesser-known strategies and underutilized methods - is to take advantage of cart abandonment discounts.

Hear us out.

1. Add Items to Your Cart: Shop as you normally would and add the items you’re interested in to your shopping cart.

2. Leave the Site: Instead of checking out, leave the website and close your browser.

   By adding items to your cart and leaving the site, you may trigger the store's abandonment recovery system.

3. Wait for the Discount Email: Some online retailers will follow up within 24 to 48 hours with an email, offering an incentive like free shipping or a percentage off to encourage you to complete the purchase.

Online retailers track and monitor your online behavior to gauge your purchase intent. And while not every retailer uses this, some do and you have to admit, it’s a pretty genius tactic especially if you’re not in a rush to buy.

But of course, use this approach responsibly and consider the ethical implications of intentionally abandoning carts.

What did you think about our quick tips? Try them out and if you’d like to learn more about how to manage your expenses even further, Maybe has got you covered!

FAQ:

How can I significantly reduce my expenses?

To significantly cut down on your expenses, consider creating a budget and setting a clear savings goal. Automate your savings by setting up direct deposits into your savings account. Choose generic brands, avoid stores prone to overspending, cut unnecessary subscriptions, use gas rewards, plan meals, and leverage cash-back apps and coupons for savings.

How can I reduce the cost of my Amazon purchases?

To save money on Amazon, look out for coupons. If there's a coupon available for an item, you will see a "Coupon" icon below the price. To activate the coupon, simply check the box next to it.

What strategies can I adopt to minimize my online shopping expenses?

To curb excessive spending in online shopping, monitor any stress-related spending habits. Set a specific allowance for shopping, designate fixed times for making online purchases, buy items only when they are on sale, consider walking away and revisiting items later to avoid impulse buys, switch to using a debit card, and adopt a one-in, one-out policy where you sell or donate an item for every new purchase. Reflect on your current financial reality to make better spending decisions.