Getting the most out of your money doesn’t necessarily mean strict budgeting – there are ways that you can get the things you want and need just by being smart with your money and looking for the right bargains. Of course, you need to know what you are looking for, where to look and when to look.
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So to help you get more out of your money, we have compiled a series of bargain hunting tips and advice.
1. Take advantage of discounts
Every retailer that sells a product or service offers discounts throughout the year, but most discounts happen around holidays or festive periods – Black Friday, Christmas, Cyber Monday etc. These are all good opportunities for you to acquire goods and services for considerably less.
Make sure to shop around or wait for discounts. There are a number of websites online that offer discount codes for specific retailers throughout the year, so use these websites to save money and get what you want!
2. Look out for promotions
Promotions are another way for you to get more for your money. Throughout the year, retailers will offer a certain product or service with additional beneficial terms (and sometimes even for free) but only for a specific period.
Free gifts, samples, buy-one-get-one-free, buy-one-get-fifty-percent-off, customer loyalty programmes, giveaways and flash sales are all promotional strategies retailers use to attract new and existing customers.
For example, some broadband providers will offer free installation with no upfront costs and the next three months at a discounted rate. Another popular example is Domino’s Two for Tuesday deal, allowing you to get two pizzas for the price of one.
Loyalty programmes can also net you rewards or money off your next purchase or monthly bill; simply refer a friend to the brand using a specific code and if they make a purchase or sign up, you’ll get credit added to your account or taken off your next payment!
These are just a few examples and loyalty programmes come in a variety of different formats.
Our bargain hunting tip: keep an eye open for seasonal promotions.
3. Make use of retailer cards and reward schemes
Some retailers – Boots, for example – offer customers a card on which they can collect ‘points’. When a customer accumulates enough points, they can use those points to purchase items in store or online. If they do not have enough points to cover the purchase, they can pay the difference.
Other retailers offer reward schemes or clubs. These schemes/clubs operate in a similar way to reward cards. Costa, for example, has a ‘Costa Coffee Club’ – to participate, you simply pick up a card in store or download the app, swipe or scan the card whenever you visit to earn points, and then, once you have enough points, you can make a purchase in store for free.
4. Check out the clearance section
The clearance section isn’t for ‘defective’ or ‘low-quality’ products, but is in fact for products that the store wants to clear relatively quickly as it may have excess stock. For example, it might be a summer clothing line that the store wants to finish so that it can bring new stock in for autumn and winter. The clearance section usually includes discounted products and you may even be able to get packs of products (multipacks).
The clearance section allows you to access otherwise expensive goods at a lower price point.
5. Sign up to online newsletters for retailers
More often than not, you can purchase items online that you can’t purchase in store – typically these items are advertised via newsletters sent directly to your email inbox. So our bargain hunting tip would be to sign up to receive newsletters. Also, from time to time, these newsletters will include discount codes, vouchers and promotions that you can take advantage of.
Bonus bargain hunting tip – plan ahead and be smart with your money
Now we don’t necessarily mean subjecting yourself to a strict budget, but rather thinking about things you can do to make your money go further.
For example, preparing food before work rather than eating out can save a considerable amount of money, or bringing your own reusable coffee cup when you go to Costa (or participating stores) will allow you to get your coffee at a discount (as the price of the cup is included in the price).
Ultimately, getting the most out of your money means being smart with it.
Hunting for bargains and discounted products and services is just one way to get more out of the money you have – and maybe even have some left over. These bargain hunting tips should put you in a good position to get more out of your money and still enjoy the things life has to offer.
Of course, if you want to manage your money more effectively and improve your financial health, we can help out there too. Check out our free eBook: ‘Improving your financial health: 6 money and credit management tips’ by clicking the button below.