With bright, new malls opening up every day in our cities, we see more and more people spending money they don’t have, as the temptation to shop grows stronger. The new convenience of shopping on credit, easy loans, instalments is a good thing within limits, as it helps us raise our standard of living. But when we are so weighed down by debt that we see ourselves headed towards a financial crisis, it’s time to take stock of our lives and reassess our priorities.

Do you constantly shop at sales and come away convinced that you’ve just got a great bargain? Often, this is far from the truth. At a sale we habitually pick up more than we would have originally bought. Shop smart at a sale. Make a list beforehand of things you need. If you need a white shirt, a new bag or black shoes, write it down in your list. So when a sale is on, go and buy only those items on your list. And no, don’t buy two white shirts just because each is 50% off! You’re missing the point!

When shopping for groceries at supermarkets do you wander the aisles and buy more than you need? Take a list, and once you have everything on it, turn around and head straight for the checkout counter.

If you run a large household, it may help to do your shopping in bulk from wholesale stores like Metro Cash and Carry. Again, go with a list. Visit such stores once a month or so, and buy provisions to last until then. If you’re not sure whether you need something, you don’t. If you do, put in on your list and buy it next month.

If you plan to incur a major expenditure on something like a car but find that monthly instalments eat into your household budget, wait a little longer, and take a smaller loan. In today’s world of instant gratification this may be hard to do, but you need to exercise self-control. Cut back on expenses until you’ve cleared debts.

If you go overboard with plastic, cut up your debit and credit cards, or at least, leave them in a drawer at home and use only when purchasing certain items like a new cell phone. Plastic can be a blessing or a curse. It can be extremely convenient, but if you overuse it, it can ruin future plans. Make it a point to pay cash. Not only will you instinctively get more prudent, but you will also save thousands of rupees by simply not having the money on hand when you want to buy something. If you reach home and still want it, then make a second trip. Chances are, you would have forgotten all about it.

Create a household budget in accordance with your means, and make sure you keep some aside as savings. Work entertainment expenditure into your monthly budget, so you can see you are not depriving yourself of all the good things in life. Don’t forget to set aside money for other items like presents, holidays etc.

By shopping wisely, you will be able to save up for things you really want, like a better wardrobe, a nice car, a beautiful home. So the next time you see a huge sale sign posted on a window and you don’t have a list handy, muster up the willpower, and walk past.