Avoid These Budget-Busting Triggers

Avoid These Budget-Busting Triggers
Trying to stick to a budget is never easy, but what you might not realize is that certain factors, like your mood, can actually cause you to spend more. So before you give in to temptation, here are a few tips to help keep your budget intact.

First, how many times have you run out for some milk, and come back with a bag full of groceries? Don't worry, you're not alone. According to a study by Visa, 34 percent of the people polled said that the supermarket is where they overspend the most. Instead of getting caught up, make a list before you go and only include the things that you definitely need. You'll find that sticking to this plan will save you a lot in the long run.

Another place where lots of us go off track is on vacation. All too often we only remember to budget for airfare and hotel and completely forget about the other costs involved. The best way to get around this is by making some simple trade-offs. For instance, if you've got your heart set on staying at a four-star hotel, then scale back on other things -- like going out for fancy meals -- to offset your spending. By having a plan in place before you leave, you'll be less likely to splurge while you're there.

Next, special occasions are also known to be real budget-killers. Big events like a family wedding or your best friend's birthday can make you feel compelled to buy them something expensive. Rather than letting your feelings overwhelm your bank account, start saving now. Even if it's only $20 a week, that can add up to hundreds over the course of a few months, and if something pops up suddenly, or you haven't had time to put aside some cash, try thinking outside the box and making your own gift. Most of the time, people will appreciate something from the heart just as much as something you bought at a store.

Finally, we all know that stress can trigger a lot of things in us, including an unnecessary shopping spree. Before you turn to retail therapy, try exercising instead. Activities like yoga or even going for a 20-minute walk can help give you some real relief. Just think, you'll be getting rid of the stress without spending a penny.

Remember these tips to keep your budget from going off course. You'll see that by recognizing these triggers ahead of time, you'll be able to avoid overspending in the future.

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Avoid These Budget-Busting Triggers -- Savings Experiment

Expect to see these gain popularity over the next 12 to 18 months. Augmented-reality apps offer consumers rich content -- be it on an item's features and benefits, or information that compares and contrasts various products to help shoppers make better on-the-spot, informed shopping decisions.

So in theory, a supermarket shopper with health issues debating between several cereal brands could tap an augmented-reality app to pull up product information and "compare this product versus three others," Fry says.

And AR apps will likely move beyond the supermarket aisle: There are whispers that Walmart (WMT) and Best Buy (BBY) will soon be launching augmented-reality apps.

These apps are one way retailers are fighting showrooming, when shoppers use brick-and-mortar stores as showrooms to check out potential purchases, only to buy later from online merchants at a lower price, Fry says.

"Information is value. Consumers aren't just buying on the basis of the lowest-possible price, he says. "Augmented reality apps will allow [retailers] to make a showroom that Amazon [for example,] will have difficulty duplicating."

Fry says augmented reality-apps offer a more sophisticated evolution what retailers have been attempting with QR codes, the black-and-white matrix bar codes that have been popping up on everything from product displays to store windows.

Lusting after a cool blouse or a sleek flatscreen TV but can't justify paying the steep price? Well, just as sites like FareCompare.com alert travelers when airfares drop, clothing store Bebe (BEBE) and Best Buy now offer apps that will alert shoppers when an item goes on sale.

"Essentially, by using the retailer's app, a user can mark an item as a favorite and choose to be alerted when the product goes on sale, or reaches a price point specified by the user," Scott Gamble, vice president of digital solutions for AllianceData, which issues retail credit cards for stores like J. Crew and Pottery Barn, tells DailyFinance. "Specialty, electronic, and hard goods retailers would be most likely to implement this type of tool moving forward."

Alliance Data is now developing a "virtual gifting" mobile tool that it plans to launch as a pilot program later this year.

"The general idea behind this capability is that it would allow a cardholder of one [retail store] brand to send a virtual 'gift card' via a mobile device to another cardholder of the same brand," Gamble says. "The gift could be redeemed in-store via the recipient cardholder's mobile device. Women's specialty retailers will likely be among the first to launch this sort of tool."

While the jury is still out on how tablet computers will ultimately figure into the shopping experience, retailers are already starting to capitalize on tablets' advantage over smartphones, most notably, their larger screen size.

Retailers are now leveraging tablets to help consumers do more than simply make purchases; the goal now is to help people solve more complex shopping problems like how to redecorate a room or piece together a wardrobe. The right tool for those project-sized tasks: Magalogs, hybrid magazine/catalog mobile sites that offer how-to advice and rich content, Fry says. "It's about providing better context to make it easier for shoppers to purchase from these retailers," he says. The consumers can conceivably use retailers' mobile magalogs to walk them through a project in a store. They'll use their tablets to "give me ideas and tell me how to execute a project," Fry says.

Cosmetics chain Sephora, for one, announced this week the test roll out of iPads to 20 stores, where they will give shoppers another way to navigate the retailer's thousands of products and interact with the menu of services offered by its Beauty Studio.

Sephora just updated its online and mobile sites. Now, each product on Sephora.com is tagged and indexed with 25 different characteristics, from data like target age group, to specific ingredients, formulations, fragrance, price and more, in a bid to offer shoppers a targeted, personalized shopping experience.

Some women's apparel chains are strategically placing QR codes in their stores -- in fitting rooms, for example -- so that shoppers can sign up for store credit cards on the spot, assuming that the shopper has both a camera and a QR-code reader on their smartphone.

A shopper can scan the QR code, which connects them to the retailer's mobile-optimized website, where they're asked a few questions to apply for the store card, Gamble says. If qualified, "they would receive approval within a minute or less."

"The QR code makes the application process very quick and convenient for the customer and, upon approval, almost immediately specifies their buying power -- their credit limit -- so they can immediately take advantage of the benefits of instant discounts and rewards that typically come with the initial card purchase," he says.

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