Fashion girls are trained by instinct and experience to go for the kill when it comes to shopping. When a covetable pair of heels goes on sale or when an exciting fashion collaboration is on a limited run, fashion girls know they can't hold their breath—it's a race to the store, down the check-out counter, and out the mall—no questions asked, with the promise of compensating for spent money by bringing baon for two weeks or momentarily giving up their daily cup of designer coffee.
But what if we tell you that with a little money management know-how, it's possible to walk out of a shopping session without having to give up much of your daily expenses? Get these habits into your system and shop without having to feel guilty again.
1. "Do I need it, or do I just want it?"
When faced with a pretty tempting item in store, take a quick second to ask why you want to have it. Are those perfectly nude stilettos something that you could wear with most items in your closet, or is it a pair you'd have to build an entirely new wardrobe on? Shopping on pieces you know you'll wear right away, and more than just twice over will justify the amount of money you spend on it, and will help you stave off buying items just because they appeal to you at that particular moment.
2. Mind your bills.
An effective yet subtle way to balance your savings and spendings is by knowing when your bills are due, and how much you need to pay for each. Most of the time, phone, credit card and electricity bills reside at the rear end of our minds as an afterthought, only for us to face the nail-biting act of paying when we've spent everything on shopping. We say, keep tabs on when your bills are due, and pre-schedule your payments with a reliable mobile banking app that does all the dirty work for you. That way, you keep priorities in check, spending for necessary bills before indulgences.
3.Splurge like a whiz.
By now you should have noticed that this article isn't at all telling you not to spend—in fact, we'll even go out on a limb to say that you can splurge while saving money in the process. If the acquisition of that designer luggage or your first mega-expensive watch is on the agenda, consider factors such as price-divided by-number of times worn, quality, lasting power (a.k.a. if the piece won't look irrelevant when next season rolls along), and wearability--meaning, the number of times you can wear or use the piece given your daily activities. Always go for quality over quantity.
4. Best be safe.
When shopping's on your mind all the time, the last thing you'd want is for you to be robbed off from it, especially when doing online transactions. Online shopping, paying bills through the internet, and booking flights digitally make our accounts more exposed to the rest of the WWW, and can be intercepted for fraud or for someone else spending under our name. Better to heed this precaution: get a mobile banking app that alerts you through text when you make payments online, so you'll know it's not some other person who's making the digital swipe.
5. Keep spendings and savings in check.
It's too easy to forget about how much money you owe or have left when the only time you're reminded is when you're at the bank or in front of an ATM screen. Having a mobile banking app to track your savings will temper your shopping cravings when needed—all with a single tap. With your banking details accessible on your phone, you can also plan your purchases in advance, say, when a big paycheck comes in or when you know you'll be paying less bills in the months to come.
6. Maximize your swiping power.
Your discriminating shopping taste should extend to your choice of credit card. Sure, there are tons of choices you can apply for, but as a frequent shopper it's best to pick a card that offers you as much privileges as possible, whether that be lower interest rates or store discounts. Try picking one that allows you to customize your credit card settings, to best fit your lifestyle and spending habits.
7. It's okay to switch it up!
If your bank account doesn't let you do all these, then there's really no point in pushing it. Don't be afraid to make the jump and switch to a bank account that gives you freedom and ease in managing your money.
See this exodus of sorts from a barrage of blue-clad Megan Young clones representing Security Bank, who stormed various malls all over the country last November 8, in protest against all the stresses of banking: complicated mobile banking apps that aren't user-friendly, long banking app passwords, and annoying fees when transacting in other branches. The group also discussed freedom to send money to anyone with a mobile phone, withdraw cash from ATMs abroad, pay using an ATM activated with Mastercard ability, and getting rid of worries with withdrawal text alerts.
This freedom can be had via Security Bank's All Access Account, which allows you to enjoy all these benefits for a starting amount of P5,000. What's more, if you leave your business card when you apply, you might just get a chance to win a P25,000 All Access Account yourself.
Click through the gallery to know what went down in the Security Bank All Access Card rally.