Photo credit: www.bustle.com
Staying within a budget can be particularly challenging, especially when shopping alongside others. It’s common to encourage each other to buy items that catch your fancy but may not be essential—like a quirky soup can-shaped stool. In no time, your shopping cart can overflow, leaving you with a hefty bill and a car full of items you didn’t plan to purchase.
A useful strategy to promote mindful shopping is the trending “I’ll buy it if” challenge that has gained popularity on TikTok. The concept is straightforward: you determine a personal price limit for an item you admire in a store—perhaps saying “I’ll buy it if it’s under $15”—and then examine the price tag. If it’s less than that amount, you make the purchase; if it exceeds your budget, you leave it behind.
For instance, TikTok creator @luwhatwear tested this trend by holding up two charming glasses adorned with bows. She declared, “I’ll buy these if they’re under $6,” but found the pair priced at $9, leading her to forgo the purchase. During her shopping spree, she pondered over various items—coats, sweaters, candles, and slippers—but in the end, opted to buy only the candles based on her self-imposed price limit.
Understanding the Advantage of the “I’ll Buy It If” Challenge
This challenge serves as a valuable reality check. Rather than allowing yourself to fall for an item and later weighing its cost against your budget, you establish your spending threshold primary to the purchase. This approach can reveal mismatched expectations; for example, if you think a candle should cost around $10 but discover it’s actually $25, justification becomes significantly harder.
Additionally, transforming shopping into a playful challenge can enhance the experience. “Incorporating gamification into shopping is a brilliant strategy,” explains Bobbi Rebell, CFP, a certified financial planner and personal finance authority at CardRates. The thrill of guessing prices and the potential shock of their actual costs can empower consumers to resist conventional marketing tactics.
Rebell elaborates, stating that instead of retailers setting a deceptive ‘anchor’ price to create the illusion of a bargain, consumers take control. They define their financial boundaries independently of the retailer’s prior pricing signals.
This shopping technique also demands that shoppers engage fully in the moment. By holding and inspecting each item, you’re prompted to determine your personal price, leading to a reflective pause that helps assess whether an item is genuinely worth the expense.
Implementing the “I’ll buy it if” challenge is an effective way to adhere to budgetary limitations. “This trend effectively establishes spending boundaries,” Rebell remarks. “You have a clear understanding of your budget and know immediately if an item fits within your defined price range.”
In summary, this challenge can be particularly beneficial for those aiming to save money, individuals who often find themselves overshopping, or those lured by enticing deals simply because they are marked down significantly. Next time you venture out to shop—whether with friends or solo—consider applying this method to find yourself checking out with far fewer items than you might otherwise have accumulated.
Source:
Bobbi Rebell, CFP, certified financial planner, personal finance expert at CardRates
Source
www.bustle.com