A Shopaholics Guide To Budgeting

So there I sat in Starbucks in the companion of my best friend and long time advisory, with my head down, savouring the very last drop of what would be my last Soy Vanilla Latte in a while. I sat there as her words haunted me “Reena you have to go on a budget” and all I wanted to do was scream out “Nooooooooo” The thought of reducing my weekly spending spree at Fenwicks New Bond Street and my twice a week Starbucks treat gave me clammy hands and near enough panic attacks, not to mention major hyperventilating. I Reena was a self confessed shopaholic. It was an addiction that I had to get rid of. I resorted to any excuse when it came to shopping, be it a pick me up after a hard day at work, a phone call from the ex, a fight with a friend or just because I felt like it. When it came to payday I was happiest girl in the world. You could see the twinkle in my eye because it was shopping time, the best leisure activity in the world. Knowing this all had to come to an end didn’t go down very well with me. I think I failed to mention this was me oOo about 3 years ago.


I Reena am now a born again budgeter (and a proud budgeter at that).

In my younger years I failed to acknowledge my limitations, though they stood there with a big signboard. I was unaware of my priorities and never took my future into consideration.


But now I see myself as the queen on budgeting! I have learnt the tips and tricks of shopping, allowing me to enjoy a good ol’ spending spree once in a while and manage my money at the same time.


I still do and will always lust after gorgeous luxury brands that I can’t afford (yet!), from Balenciaga bags to Manolo Blahnik shoes to a Bulgari necklace and a Tiffany’s ring. Bare in mind if I find the man of my dreams who I love with all my heart, I will be sending this shopping list to him (*can hear the stampede of men running towards me now running in the opposite direction*).


To quench my shopping thirst, I spend my well deserved earnings on the many high street brands I adore, TopShop <3, Dorothy Perkins, Urban Outfitters <3 and Pull and Bear <3 to mention a few. I feel it’s my prerogative as a working independent chick to treat myself every once in a while! I mean why not? It is my hard earned cash after all. With my handy shopaholic tips and tricks, I can enjoy guilt free shopping!

For all those self confessed shopaholics out there, I’m hoping the tips and tricks I’m about to share with you will not only help you to curb your spending, but also allow you to enjoy guilt free shopping!

1. Cashback
Earning cashback via shopping has became a way of life for me. Be it booking a holiday or buying a skirt I will always check whether I can earn some cashback. There are various sites which you can sign up to for this, my favourite is Quidco. Quidco is free and easy to use. You can earn cashback in-store as well as online (for those online fanatic shoppers). Best of all some of the biggest brands are registered with this company. Definitely enjoy some guilt free shopping here! =D


2. Shopping Companions
Whether it’s family or friends, shop with people who know you well. Those who genuinely care will keep you in check and talk you down from irrational purchases they know you will only regret later.

3. Store Events
I feel that the best time to do shopping is during sale periods and store events. Stores and like Dotty P’s (that’s Dorothy Perkins) have regular 20% off events. Maximise these store events as this is the best time to do your shopping. My bargain purchase last week from Urban Outfitters, bought a playsuit for £10, original price was £60! (Urban Outfitters always have a designer sale section ;-) )


4. Voucher Code Sites
There are many websites out there where big brands like to provide special promotional codes for their customers. Some of these sites include vouchercodes.co.uk, Savoo and Hot UK deals. These sites are definitely worth checking out! You're bound to find a sneaky discount code here and there!

5. eBay
God bless eBay. eBay has become a lifesaver for many when it comes to earning some quick cash. Auctioning of unwanted goodies has become a major trend and a helpful one at that. Go bonkers with eBay, it’s a virtual heaven for all those who love a good bargain and want to earn some quick cash. You can find some great designer goodies on there too, just make sure too contact the seller first to confirm the authenticity of the item!

6. Secret Shoppers
We all wish that shopping could become a paid job. Well my lovely shopaholics, your prayers have been answered. Becoming a secret shopper is a fun way of earning some extra cash. Many stores are looking for secret shoppers, its fun and easy and you can do it on the weekends or after work.


7. Wants and Needs
A key lesson for me was to differentiate between a want and a need. I felt every handbag, every pair of shoes, every ring that got my heart racing was a need (what?!…I needed it to make me happy *looks innocently*). This was a dangerous route! So thanks to my long term advisory and a few home truths I learnt that every item I wanted was not a need. Yes once in while its good to treat yourself (especially if it’s a bargain), but if you’re considering to purchase an item for the sake of it, stop and think “Is this a want or a need?!"


8. How Many Times Will I Wear It?
A very good friend of mine taught a very logical way of considering my purchases. For every pound it costs, will you wear it that many times, e.g. if a pair of jeans costs £100, will you wear it 100 times? I thought this was a brilliant way of thinking. So now everytime I consider purchasing an expensive item, I think will I wear it the same amount of times as to how much it costs or will it just sit in my wardrobe?

9. Collecting Points
Many stores have now have loyalty or store cards where you can collect points and redeem them. Some stores may charge a couple of pounds for this and in some stores it may be free, If you religiously shop at stores which offers this scheme, take the opportunity up. It's always comes handy if you're short in cash.

10. Shop Around
Sometimes we see something in a store which we really like, what we then instantly forget is that we could get something very similar cheaper elsewhere. Therefore I always recommend shopping around, you never know what hidden gems you could discover. Also always look on price comaparison sites (this more for the techy stuff like DVD's)There are also a few thing you can change to your daily routine to a save you coinage here and there:

- For those of you who call the coffee chains your second home, start taking your coffee with you in travel mugs or flasks or even make your coffee at work. Its cheap and quick and plus you can get some really cute travel flasks. I love my pink Crayola flask from Urban Outfitters.


- I worked out one day that I spend at least £20 a week on lunch, that’s nearly £100 a month. So I started to take my lunch from home, it’s healthier and cheaper and that’s a saving of £100 a month! Can I get a cha-ching!!


- The key thing that you must all do and that is SAVE! Set up a monthly standing order so when you get paid a portion of your salary will go into a savings account. This is the most useful and important thing I’ve done. It’s my safety net for a rainy day and its something we should all have. Standing orders and saving accounts are easy to set up, they can be done online or you can visit your bank. One of the best saving account to get is an ISA. For more info you can visit www.moneysavingexpert.com.

Hope these little tips and tricks help. I follow these and still enjoy life and my hard earned wages….so should you! :-)


Reeny
x


Ps. If I find anymore helpful tips, I will certainly update this blog