No matter your financial situation, shopping is something you probably do regularly. And even if you're doing pretty well financially, you'd probably rather spend less than more when buying things, whether it's clothing, electronics, or household essentials. With that in mind, here are a few steps you can take to save big on shopping in 2024.
1. Compare prices before buying
When you need something like milk in a pinch, you may not have the time to dig into which grocery store is offering the lowest price. But for more expensive items that aren't things you buy every week, it pays to take the time to research prices and compare deals.
Now, there are different ways you can do this. First, you can simply take a given item, plug its name into different retailers' sites, and see which price is the most appealing. If you don't need a given item right away, you can always add it to a digital cart of yours and then track the price for a while yourself to see if it goes down
An even simpler way to keep tabs on prices may be to use an app or browser extension, like Capital One Shopping. Not only is it free, but you can install it on your laptop and phone so you're able to compare prices no matter which device you're using.
2. Knowing what retailers' price-matching policies look like
One of the most frustrating feelings you might experience is buying a given item and then seeing it go on sale a week or two later. That's why it pays to familiarize yourself with the price-matching policies of the retailers you tend to frequent the most.
Target, for example, will match prices for up to 14 days after your purchase if the cost of something you buy is reduced after the fact. Target will also match certain competitors' prices.
Costco, meanwhile, will not match the prices other retailers offer. However, if you buy something at Costco and then Costco itself lowers the price, you can request an adjustment within 30 days.
3. Make your purchases at the right time
Sometimes, the timing of your purchase itself can result in a lot of savings. One good bet is to buy items you don't need in a hurry after their prime season. So for example, spring tends to be a good time to buy a winter coat, because at that point, retailers are likely to want to unload their excess inventory to make room for warm weather clothing.
Similarly, a good time to stock up on swimsuits is after the summer. At that point, retailers need to clear out for fall.
The post-December holiday period can also be a good time to shop in general, since that's when retailers may be looking to move unsold inventory off of their shelves. And it's pretty much always a good idea to buy holiday-specific items after that holiday has ended. For example, you may want to stock up on non-perishable items for your kids' Easter baskets right after Easter passes.
The more you're able to save on shopping during the year, the better your financial picture is likely to be. Make a point to track and research prices, understand price-matching policies, and time your purchases strategically.
