Shopping smarter

Shopping is a favorite pastime for many, but it’s also a way to spend more money than you need to, slowing your progress toward your financial goals. Here are some ways to shop smarter:

• Buy only what you need. Stop shopping for entertainment, or to alleviate boredom, or to cheer yourself up. There are less costly ways to achieve those results.

• Take only as much money as you need to the store. If your wallet is full, there’s a good chance you’ll spend more than you initially intended.

• Leave your credit card at home, if possible. Studies show that people tend to spend more when charging purchases.

• If you can spend responsibly with credit cards, then use ones that offer cash back, rewards or discounts at the retailers you frequent most often.

• Seek discounts and use coupons. Wait for items on your list to go on sale. Clip coupons for your grocery shopping. When shopping online, do a quick search for the retailer’s name and “coupon” — you’ll often end up with a coupon you can use when checking out that will give you a better price or free shipping. Sites such as Retailmenot.com and Coupons.com offer hundreds of coupon codes and printable coupons.

• Sleep on it. Often, if you wait a day or two before buying something you want, the urge to have it will pass. Another trick when shopping online is to put what you want in your shopping cart and then close the window; there’s a good chance the company will contact you and offer you a deal.

• Don’t shop when you’re hungry. Not only is that likely to make you buy many more groceries than you need, but it’s also been shown to make people buy more in general.

Get money-saving tips and guidance on credit cards, banking, loans and more at Theascent.com.