Shopping during sale season can be exciting but we want to make sure these savings really count. Online sale seasons can tempt you to impulsively purchase things you may never use, with potential savings being offset by wasteful purchases. These are the 7 key philosophies that I apply to shop mindfully for Black Friday and Cyber Monday, so that I get maximum satisfaction and value out of my guilt-free shopping.
- Use the sales as a time to buy what you need.
Often during sale season, we view price reductions as an opportunity to experiment. While it’s okay to try new things, prioritise items tried and trusted items first. If you’re doubting whether you should purchase an item, ask yourself: would I buy this if it were full price?
A great way to avoid regrettable purchases is by using Klarna’s wish list, to categorise and track items you want to try. This creates a visual map, and encourages you to carefully consider your purchase before handing over your hard-earned money. Additionally, Klarna’s price drop feature immediately notifies you of discounts on your wish list, so you never miss out on potential savings
- Use the sales to buy staple wardrobe pieces.
Purchase pieces that stand the test of time. Look for items that are well made, versatile and can be easily styled throughout the seasons.
Classic pieces can sometimes be expensive, but the Klarna app features weekly updates on the best deals. Consider it a curation of major sales across reputable Australian brands. Use the app as a price reference, before committing to a purchase.
- Check what you already own.
Look at your existing wardrobe to see if you already own something similar, so you aren’t doubling up on items. There is nothing wrong with having similar items, but sometimes we purchase clothes thinking it doesn’t exist in our collection when it could simply be hiding.
- Check your colour palette so that new purchases go with everything that you already wear.
It can be frustrating to purchase a highly coveted top, only to discover that it clashes with everything in your wardrobe and never gets to be worn. Account for the overall aesthetic of your wardrobe and visualise whether the item you’re coveting can be incorporated seamlessly.
For style inspiration, Klarna publishes fashion articles and curated wish lists filled with inside tips on how to pull together chic outfits. You may discover new ways to wear existing pieces so you can make the most of your wardrobe.
- Do a budget.
A budget sets the parameters for the amount you can spend, so you won’t go too spend-happy during the sales season. Ensure the amount you allocate to spending doesn’t interfere with your financial goals or budget.
If there is an item outside of your budget, you consider using Klarna to pay for items through the 4 fortnightly installments. By dividing the payments up, you can allocate a certain amount of money to the item each fortnight, instead of splurging all at once. If you are using the pay later feature, factor into your budget the repayments. Remember, you can always pay the balance off early and provide the biggest deposit possible.
- Quality, not quantity.
Opt for key quality pieces, over purchasing multiple cheaper items that may not be as durable. Look at reviews and research how the items look on real people to determine durability. Stick with brands you know are worth the investment and consider the pre-loved economy if quality isn’t in your budget.
The one-time card enables you to purchase products anytime, anywhere. This includes consignment stores both online (like Vestiaire Collective, The Real Real), as well as your local stores such as The Purse Affair and Trading In Style (some of my favourites).
- Look at lifestyle.
Due to COVID-19, many of us are working from home and attending more Zoom meetings, meaning less corporate attire and more smart-casual. Factor into your purchases, where and when you can wear an item. This will illuminate whether the item is practical for your current context.
Sales are excellent ways to save money, so use the upcoming Black Friday and Cyber Monday sales to your financial advantage! It is okay to treat ourselves, as long as we shop mindfully. The money we save from Klarna’s price drop notifications (which will be buzzing away all weekend) can go towards achieving our own financial goals.
Canna Campbell is the founder and director of SASS Financial Services, a boutique financial planning firm. She is Channel 9’s exclusive ‘money expert’, founder of financial media platform SugarMamma.TV and best selling author of The $1000 Project and Mindful Money.