Gizmo's Spending Habits

Hello Blogosphere!

Here are my spending habits and ways you can also shop frugally!

1. PURCHASE LESS

On average I force myself to only buy 1 new article of clothing, or accessory (e.g. scarf, shoes etc.) a month. This keeps my closet fresh and curbs my spending, while I save money for larger shopping hauls during sale season (e.g. Black Friday etc.).

2. NEVER PAY RETAIL

All consumer products are overpriced, because the mark-up is at least 100% of the cost. Even when something's on sale with an extra % off, the company is still making money. These profits rarely trickle down to the person/machine who actually made it. So it's most satisfying to me when I buy something at what I believe is the rock-bottom-price.

3. SET A LIMIT

I set price limits for myself so I don't overspend. For example, the maximum I will pay for shoes is 40% of the retail price. This may seem high or low to you depending on where you live, and your income. Determine your price limit on your spending comfortability. I'm a graduate student, so I don't have tons of extra spending money.  So far I haven't paid more than $65 with tax on shoes!

4. BUY WHAT YOU LOVE

My sister, Yoshi, taught me this lesson. We both only buy what we love. Not what is cheapest, or trendiest. We wear clothes we love, so don't buy something other people would compliment you on. Buying what you love always helps with the "nothing to wear syndrome", because your closet is full of what you love!

5. KEEP RECEIPTS

If you keep your receipts, then you can return or exchange clothes you bought that you never wore. With an original receipt, some stores will give price adjustments on items you paid for that later went on sale. 

I hope these tips helped!