Five Smart Shopping Tips Which You May Follow Before Making Purchases During Festive Season

As the festive season is going, people plan of purchasing various items for their own house and for gifting their near and dear ones. They usually wait for the festive season as they get great deals and offers at this time of the year.

However, this year is different as COVID-19 has dealt a blow to the economy. Incomes of many people have come down. So, before going shopping in this festive season, people should pay attention to these spending tips.

Buy only what’s needed

Don’t spend recklessly. Prioritise your requirements and only purchase those items that are actually required. Before going for a big-ticket purchase, consult your family so that you all can decide if that item is needed or not.

Do research before shopping

Smartphones can be useful in shopping. Before buying anything, you should search about it online. This will help you find where the maximum discount is available or where you can get best offers. You can also make comparisons between the same items of different brands while surfing online.

Use multiple credit cards

As various card issuers tie-up with retailers, brands and service providers, using multiple credit cards will help you avail maximum discounts. Just prioritise what you want to buy and check which card issuers have tie-ups with retailers selling items of your requirement. Credit card users also get coupons time to time if they are making regular transactions. This will also help lower down the cost while shopping.

Zero-cost EMI

Dealers usually offer cash discounts in the festive season. But, when people go for zero-cost EMI, they have to give such discounts. It means, an item worth Rs 50,000 could be available at a cash discount of Rs 3,000 for those paying for it at a time. But, if a person is opting for zero-cost EMI, he may not be able to avail of that Rs 3,000 cash discount. Instead, he may choose to pay Rs 50,000 in five months.

Pay your credit card bill on time

Don’t fall into the trap of rolling over balance while making transactions through credit cards. Card issuers provide the facility of paying just five per cent of the bill and rolling over the balance. This approach attracts a hefty interest of three or four per cent per month. Instead, you should get your remaining balance converted into low cost EMIs.

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