How to save money by shopping less

Updated 08/12/2022
How to save money by shopping less

So, I have a yoga pants issue.

Time to read : 3 Minutes

How To Save Money By Shopping Less

When I joined Compare Club to write about mortgages, savings and all things financial it was a bit of a wake-up call.

I mean, how can I write about all of this without taking it onboard and putting it into practice? After all I can't really ask you to be better with your money if I'm not asking the same of myself.

Mission #7 – how to save money by shopping less

Even post COVID, a recent ANZ report shows that Australians still love to shop.

🫰🏻We spent nearly $1.2bn a week on non-essential items or $3172 each a year.

🥡 42% of us are spending money on snacks we don't need.

👀 While 41% are guilty of impulse spending.

So how much do I spend on things I don't need each month?

This one was a tricky one for me to work out because although I track everything, my food shop isn't itemised – yet.

🧮 Having said that I do track all my spending by using notes on my phone ...

I've then split these down into monthly costs.

  • $300 camera tech, props – though am done now and have my full professional kit.

  • $250 clothing and alterations – mostly replacements, e.g. pair of yoga pants die, I get another... but not all.

  • $200 on physio/massage.

  • $180 a month on training – yoga and media courses.

  • $50 my estimate on buying food that isn't good for me or necessary.

  • $50 gardening supplies – plants, mulch, hose head replacements.

  • $40 painting supplies – I tend to do my own painting and retouching around the house.

  • $35 movie.

  • $20 takeaway.

Total: $1025 a month.

😮 Surprising but less than expected I'm relieved that I didn't spend as much on clothing as I thought, but surprised about my physiotherapist cost which I'll look at cutting in half.

Here's my shop-less lessons...

  1. The tracker helps. By keeping track of everything it really helps me stay accountable, though I am going to break down my grocery shop a bit more to make sure I am being sensible there.

  2. Impulse control. I still have a problem of buying more clothes than I need, particularly yoga clothes. So, in the next 12 months I will stick firmly to my rule of buy to replace – and in the case of my yoga clothes, not replace as I have way more than I need. Hello 26 yoga pants, I am talking to you!

  3. Treatments. While I think it is important to get physio ( I teach yoga) so it is a bit like rehab, I need to get that down because I really only need to go once a month and not twice... or perhaps just book in as I need it instead. I'll test and see which works best.

  4. Small things add up... I didn't realise that I had been going to Bunnings quite so much and in all honesty, my garden is full of plants now so that is one easy cost to halve.

  5. Courses. This is one I need to watch because I keep paying for and then not using up online courses. Will cut this one a lot.

  6. Tech. I am feeling pretty guilty over how much I have spent on my camera gear in the last 18 months. I have finished my spending now as have a full kit but will be mindful about my urge to upgrade.

  7. Home maintenance. This cost is a good one and actually a money saver because I am spending on paint – and it is a lot cheaper for me to paint my place then hiring someone. Admittedly it takes me about ten times as long to do it.

  8. Is it worth it? I hate it when I buy something and then never use it, and so although I have mostly cut that habit out of my life I still have things that I bought in the last year that I do not use. Note to self – stop it.

  9. Tapping is dangerous. I don't know about you but it is so easy to buy something online or to tap it in store. I'm going to have to watch myself more carefully going forward because I really want to only buy what I need going forward.

  10. Incidental shopping is addictive. That little buy on holiday, that supermarket shop you didn't need... that dress you liked but haven't worn yet... We all do it, but my mission now is to stop doing it.

How much did I save?

A fair bit actually.

Here is my new budget.

  • $90 physio/massage – keeping the machine going.

  • $60 a month on training – learning can help you earn more.

  • $50 clothing/alterations – a replacement budget.

  • $10 snacks that aren't healthy – I can live a little.

  • $25 gardening supplies – I love keeping my garden pretty.

  • $40 painting supplies – worth it.

  • $35 movie – I'm ok with this.

  • $20 takeaway – and this.

Total: $330 a month.

Saving: $695 a month or a huge $8K and change a year.

💰Week #8

Savings: $2000/$25K goal Travel savings: $1000/$3.5K goal

🛍️ Next week... I tackle paying off my mortgage faster or how to save by rounding up.

The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Compare Club Australia Pty Ltd.