A Buying Guide For Those On A Budget

Money is a scarce resource and unfortunately, our demand for goods and services are way higher than the money we have. We simply can’t afford some things but we’ve got to have them anyway. So here is a buying guide for buyers on a budget.

buying guide 11. You don’t have to buy the real thing

You can fake it till you make it. There are so many fakes out there that look exactly like the real thing and are of pretty good quality. China is the world’s biggest manufacturer in all things fake. You can buy them online at a really low price compared to the genuine product and ship them from China to where you are. You can even monetize this by starting a drop shipping business. Chances are, those high-end designer clothes, shoes and purses that your friends and some celebrities have are all fakes.

2. Don’t buy on impulse

Ever gone to the store to buy milk but instead came back with sunglasses and a bikini and no milk and it’s not even summer? That’s what we call impulse buying. Write things down on a list in their order of importance such that the most important stuff tops your priority list. This will help you buy what you went to the store to buy. If there’s money left after you’ve bought everything on the list, then you can impulse buy.

3. Buy on credit

Sometimes you may want to buy something that’s on sale or something really important but you don’t have the cash for it. What do you do? Buy on credit! There are stores that allow you to buy on credit then pay for them later like this list of afterpay stores. You can even pay for them in installments. You therefore don’t have to wait till your next paycheck to buy whatever you want to.

buying guide 24. Get a loan

You can ask for your friends and family to loan you some cash. The best thing about these kinds of loans is that they don’t have interest on them. The amount they lent you is the same amount that you’ll pay back. If you need a big amount of cash that your friends or family can’t lend you for instance when you’re buying a car or a house, go get a loan from the bank. This is however not as easy as getting in the bank and coming out with a bag full of cash. The bank has to check your credit score to determine if you’re capable of paying back the loan. A bank loan should be the last resort since the interest rates can be high.

With these 4 tips you’ll be able to work around your budget to get what you want or need. However, if the cash you have is not enough and what you’re buying can wait, let it just wait. Ask yourself if you must buy it then. If not, you can forego buying that commodity or paying for that service till when you have enough cash.