We share our top tips on getting the most for your money in the January sales.
The January sales are in full swing and with huge discounts on offer it can be all too tempting to forget your good intentions and splurge. However, we're in uncertain times and it's never been more important to watch where your money is going.
So, to help you bag some bargains without breaking the bank, we share our top tips to help you get the most from your sale shopping.
1. Make a budget -
When faced with 'on sale' signs it's incredibly easy to go mad and spend more than you should. Because of this it's always a good idea to have a realistic idea of how much you can afford to spend before you even think about going sale shopping.
You need to be quite brutal when doing this. If you don't have any spare cash then make sure you steer well clear of the shops so that you don't end up spending money you don't have.
Once you have a budget in mind make sure you stick to it. Keep a mental note of how much you're spending as you go around the shops and stop once you've reached your limit.
2. Write a shopping list -
Impulse buys will be the downfall of your sale shopping experience as you'll inevitably come home laden with things you don't actually need. So, to make your money go further make sure you write a shopping list before you venture into town.
Include in the list items that you could do with stocking up on (reduced Christmas paper and cards are always useful) as well as things you were coveting at full price before Christmas. Also, if you're furniture shopping then make sure you take the measurements with you so you know exactly what you're looking for.
3. Think through your purchase -
Before you even pick something up to look at the price and ask yourself whether you really need it. Think about how much you would be willing to pay for it and if you'd even be considering buying it were it not on sale. If the answer to both questions is yes and the price is right, then you have yourself a bargain. If not, then walk away.
4. Get a second opinion -
If you don't trust yourself to be let loose in the sales alone then take a friend along too. Asking them to play devil's advocate and question your every purchase is a great way of making sure that you don't end up buying things just for the sake of it.
5. Check you're getting value for money -
Don't automatically assume that just because something is on sale it's going to give you value for money. Firstly, check how much the item is reduced by and consider whether you can get a similar item elsewhere for less (shopping around is particularly important with big purchases).
Then, take the time to examine the quality of the item looking for any obvious damage or bad craftsmanship? It's worth bearing in mind that some stores may be willing to give you an additional discount if you notice a fault. However, if you take them up on their offer they may not give you a refund at a later date.
Only approach the till when you're confident that the item you're buying is worth the asking price.
6. Negotiate -
Retailers are often willing to negotiate on price if it means they get a sale so this is definitely something to capitalise on. This is particularly the case in the current economic climate when both large and small retailers are desperate for custom.
Scary as it may seem, politely asking whether the sales assistant would be able to knock a little extra off the price tag often pays. Remember, you have nothing to loose, the worse they can do is say "no".
7. Check the returns policy -
By law you will be entitled to a refund, replacement or return if the item you buy turns out to be faulty. This applies even to items purchased on sale or as seconds.
However, retailers don't have to give you a refund just because you've changed your mind so it's vital you check the store policy before you buy.
8. Keep your receipts -
You should always keep your receipt when you buy anything as this will act as your 'proof of purchase' if the item later turns out to be faulty.
9. Think about how you'll pay -
It goes without saying that store cards should be given a wide berth when you're sale shopping as they charge high APRs and can encourage you to spend more than you have. The only exception to this is if they give you an additional discount on your purchase and you are 100% certain that you will be able to clear them completely when your statement arrives.
If you have a tendency to get carried away and go over budget it can be a good idea to shop in cash. This way the money you have feels more real and it's easier to keep track of exactly how much you have left to spend. Avoid making extra trips to the cash point though, once your money runs out it's time to go home.
On the other hand, if you're confident of your ability to stick to a budget then shopping on a rewards credit card can be a good idea, providing you clear your bill when your statement arrives.
