Having financial discipline can be vital for many young people trying to balance a budget that has numerous expenses attached. This may be better achieved by looking for ways to save when making purchases, and some consumers may be taking this to heart.
American shoppers seek out deals more frequently than consumers in other countries, according to a report from RetailMeNot.com. More than half of those individuals polled said that they prioritize purchasing products from companies that have coupons. Close to the same level explained that coupons help them show they are adept at shopping smart.
Brands that typically cost more money were not as important to many shoppers. The report noted that approximately one-third of those surveyed would rather buy items that were not big-name brands because they were more affordable. One in five also explained they weren’t very interested in prioritizing the purchase of these items.
More than 75 percent of Americans said they value saving money when at the store, the report showed. However, this differs between men and women. Less than 40 percent of men felt saving was necessary, while close to 55 percent of women said the same.
Shopping too much remains an issue for some Americans
Valuing spending less due to deals and coupons may be a way that young people try and better manage their financial planning, but it also may be necessary for some to mind the amount they spend when going shopping.
Approximately 15 percent of consumers explained they have entered debt due to spending too much, a report from CouponCabin.com found. More than 40 percent said they have debt that totaled $1,000 or more, and another 20 percent explained their debt issues have been more than $5,000 because of shopping without limits.
“Shopping is a fun activity for many, but like anything, it should be done in moderation,” said Jackie Warrick, senior savings adviser at CouponCabin.com. “We’re bombarded with ads, daily deal emails and coupons every single day, so taking a step back and reflecting on your budget can be difficult. Take the time to pause before your next purchase and seek out ways to save money on items you really need.”
Despite the issues, there are also some people who tried to save when shopping in the past. The report added that close to half of American adults felt they did everything they could to save when shopping.