*** Men are better shoppers, learning why could save you a fortune…

***Use these 6 “good-sense” nuggets when hitting the stores…

*** Loyalty points are one of the best ways to SAVE money… and more...
 

From the pen of Karin Iten

Dear Investment Academy Reader,

It’s official!

Scientists have proved that men are better shoppers than women.

Yes, you read that right! When it comes to shopping efficiency, men win hands down.

Although this statement may be hard to believe, it apparently comes down to our evolutionary roots.

According to research, evolutionary roles play a significant part in how each gender shops. By nature, women are the “gatherers” of society and men are the “hunters”. This means women’s minds are ingrained with a “search and compare” method, while men go straight for the kill. And it’s this that makes men more efficient when it comes to shopping.

So ladies, the bottom line: If you want to save money, it’s time to start shopping like a man!

6 good-sense shopping nuggets to improve your shopping efficiency

1. Be sale smart
With all the pre-winter sales starting, avoid impulse buys and stick to items you’ll actually wear. There’s no point buying that “must-have” dress if it stays at the back of your closet with its tag attached for the next two years. Men are rarely caught out by impulses buys (the ultimate shopping downfall for women). And remember, the short shelf life of this year’s fashion leftovers means you’ll probably only wear that item once (if at all).

2. Never go shopping without a list
I know it seems obvious, but writing a list (and STICKING to it) can save you a bundle – especially when it comes to retail whims and fancies. If you’re looking for a white shirt, then make sure that (and only that) is what you buy. Okay, I’m the first to admit that men don’t usually carry shopping lists (no matter how short) around with them. But, let’s face it, women have a long way to go before they can match the speed and accuracy men have when they hit the shops.

3. If you have to buy a whole outfit to wear just one item, DON’T buy it
This goes without saying really. But, if your new “hot” item demands you buy a dress, belt, shirt, pants, shoes, bag, or all of these items, just leave it on the rack. A man will never waste hundreds of rands so he can wear his new shoes. So why should you?

4. It’s not fashionable if you never wear it
If you look disastrous in green or feel that frills make you three times wider than you really are, don’t buy it just because it’s the latest fashion. Most men aren’t as susceptible to the fickle whims of fashion as women are. Now, I’m not saying stick to what you wore in the 90s just because it works. What I am saying is, if you’re going to buy this month’s “must-have” fashion accessory, buy it at a discount store (like Mr. Price) instead. That way, you can give it to your three year old niece once it goes out of fashion.

5. Use those loyalty points
If you’re anything like me, you’re probably guilty of this: How many of you have purses filled to the brim with loyalty cards but never use the cash-back voucher they send you? If, for example, you shop at Clicks, you can earn one ClubCard Point for every R5 you spend. And your cash-back voucher is sent to you four times a year. This means that if you spend R250 at Clicks every month, you’ll receive R200 back at the end of the quarter. And that’s almost enough to pay for next month’s items. Or, and this is the man’s way to do it, if you’re not going to spend the points simply don’t accept the card. You might wonder what you’ll get out of this. Well, it’s quite simple: You won’t have to deal with the irritating post and advertorial emails they send you.

6. Don’t buy that statement dress
Avoid all items that “you’ll never be caught dead in again”. If a gorgeous summer dress catches your eye, but you can already see yourself wearing it only once, then spare yourself the trouble of swiping that card. Let’s face it, how many men do you know who'll buy something only to wear it once?

Ultimately, what it comes down to is spending your money wisely. Naturally, this doesn’t mean you can’t splurge every now and again. It just means that when you do, you have to be sure you really, really want what you’re paying for.

Till next week, here's to your financial freedom…

Karin Iten
For the Investment Academy

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