When I recently looked into the breakdown of my monthly expenses, I noticed that one of my highest spendings is on Shopee. For the past 6 months, I have spent between RM500-RM1000 each month on this platform. As a huge believer in spending wisely, I do not usually spend money on shopping unless it is needed. To avoid spending compulsively, I usually will add a particular item to the cart & wait for a few days before paying for it unless the items are needed urgently.
Looking at the past 3 months expenses between May to July, I have noticed that each of my expenses varies differently. Some of my significant expenses include items that my mum ordered since she is not tech savvy so I will be making purchases on behalf of her. There are also some months when I made purchases of electrical items such as a coffee grinder & some kitchenware for my kitchen. Aside from all that significant expenses, some other smaller expenses include household items, apparel, food, toiletries & sports items.
I do not go to the mall often unless I need to buy groceries, typically once a month. Most of the time, I would personally do my shopping online as I find the items to be cheaper compared to the stuff that I am able to get in the mall such as toiletries or some household items. Even for some of the apparel brands, the discounts during Shopee sales are way cheaper compared to what you can get from the malls. Despite me having to pay for the shipping fees which start at a minimum of RM4.90, I am able to save more by buying from Shopee.
Aside from being able to save money from their ongoing monthly sales, their pricing can be competitive too as some brands may have few vendors & to keep it competitive, they will be selling it at a more reasonable price. During their double month sales, you can also get a high discount on some items, especially from those big brands & reputable vendors.
How To Get Good Deals From Shopee?
To get a good deal from Shopee, the most important key point is to be patient. Unless you need the item urgently, I personally recommend you to wait at least 2-4 weeks & monitor the item price accordingly. What I usually do is, I will add those items that I want into the cart & whenever I am on the app, I will look at it to see if there are any potential sales ahead. If there is, they will usually indicate as & when there are future sales of this item. Take note of the important date such as month end or double-digit date such as 2-2, 3-3 for any potential sales. Depending on the item price, you can save between 5-20% during the sales period.
How To Avoid Overspending In Shopee?
Some people have a bad habit of browsing Shopee app for fun or to find something interesting. You should probably avoid doing that. Even if you are browsing it for fun & you stumble upon something that you want but you don’t need, you can always use this method to potentially help you to save money. All you have to do is to add those items to the cart or save it as favorites. Give yourself 24-48 hours cooling period before you decide to buy it. During that cooling period, I will usually analyze & ask myself if I truly need these items. If I don’t need it, I will be removing it from my cart or favorite list. This method has helped me to save money a good amount of money.
E-commerce businesses have thrived well since the beginning of the pandemic which also creates a habit for most people during those 2 years. I have also made a handful of unnecessary spending during that period but I would say that it is still under control. One of the downsides of buying things online is some items can be really cheap which may result in you buying smaller items that will accumulate into bigger spending. Another downside of it is the convenience of you buying it with your credit card or Buy Now Pay Later (BNPL) which can be your greatest enemy if you don’t use it wisely. Whether you are buying cheaper items or buying them for convenience, you should always be mindful of your expenses to avoid overspending & put yourself in a bad financial situation.
OSS!
You can also check out my latest YouTube video on How To Invest Like Warren Buffett:
