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Editor's Blog
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Bargain hunters would do best to stick with cash

The Daily Mail this week reported that there has been a significant rise in the number of “professional shoppers” targeting supermarket bargains with “military-like precision” in a bid to save money.

Many of these shoppers use social media networks and internet forums in order to share news of the latest and greatest frugal finds – with some going as far as to post proud pictures of their over-the-top bargain-price purchases.

Now, we love a good bargain here at Cash-is-Cool, but it seems to us as though these shoppers, in their bid to keep on top of every deal that hits the shop shelves – are missing out on a key recession-busting budgeting tool.

CASH. Simple, but effective.

We see no better way to keep on top of your finances than by sticking to a tight cash budget. While bargain-hunters extraordinaire pride themselves on being relentlessly frugal, many are still falling prey to the temptation of credit and debit cards – allowing themselves to be pulled into a relentless cycle of overdrafts and debt with every bargain purchase.

So, a call to all bargain hunters – and indeed all of you just hoping to protect those pennies – give cash budgeting a go. Take the time to sit down and work out a weekly or daily budget for yourself, whichever you find easiest, and then head to your nearest cash machine, withdraw that amount and hide the cards away until the next ATM visit!

Of course it’s easier said than done, but being able to physically track how much you are spending on a day-to-day basis is the best way of ensuring that you stick to a really tight budget. Restore some cash control in your lives and see how much you save.

Let us know how you get on with your cash budgeting plans and your bargain hunts by commenting below or tweeting us at @cash_is_cool.
 

Friday, 9th March 2012

Tags:   bargain  /  supermarkets  /  cash  /  saving  /  budget  /  shopping
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