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Three smart ways to reduce your shopping bills this Diwali


A penny saved is a penny earned—an outdated saying that holds relevance when you’re making purchases massive or small. With the festive season procuring at its peak, it can pay to have just a few hacks on the prepared to avoid wasting massive cash on procuring payments.

Aside from the enticing reductions being doled out by e-commerce web sites, Mint tells you three procuring methods that may assist maximize saving on procuring not solely this festive season however all year long.

Massive financial savings on bank cards: Bank cards are a superb place to begin to avoid wasting on procuring. Raj Khosla, founder and MD, Mymoneymantra.com, stated buying via a bank card may unlock further financial savings of 5-15% over and above the common model affords out there on-line in addition to offline. For example, funds made with Axis Financial institution, Citibank, ICICI Financial institution and Kotak Mahindra Financial institution credit score and debit playing cards will get you 10% on the spot low cost on Flipkart, whereas Amazon is providing a flat 10% low cost to Prime consumers who use HDFC Financial institution credit score and debit playing cards.

Even exterior of the festive interval, e-commerce corporations provide reductions on purchases via bank cards, albeit decrease at round 5%.

Bank cards are available in numerous classes and therefore not each card might provide rewards or reductions on every spend, so alternating card utilization foundation the kind of spends will improve your total saving.

“You may broadly categorize bank cards as journey playing cards, life-style and leisure playing cards, on-line spends and procuring playing cards,” stated Khosla.

Additionally, financial savings might not all the time be as flat reductions, as a substitute could also be provided as no-cost EMI, cashback, and many others. “One of the best observe for max financial savings is to examine the out there affords on the respective model retailer, e-commerce web site, division retailer, restaurant earlier than swiping your card. A couple of minutes invested in analysis can snag you a free reward or massive financial savings,” stated Khosla.

Gaurav Chopra, founder and CEO, IndiaLends, concurred and stated cardholders ought to hold a be careful for low cost days particularly tailor-made for them. “Bank cards, particularly retail bank cards, are provided with particular reductions on sure days of the month. Typically, you might also be receiving affords specifically curated for you in your mailbox. Undergo the rewards programme and make plans to buy on today to maximise your financial savings.”

One other easy hack that may assist maximize bank card advantages is by conserving a tab on the invoice date of your bank card, stated Khosla. “After your card assertion is generated, your due date is about roughly at a spot of 15 days. So, you stand up to 45 days to settle the month-to-month dues. Consequently, when you have a number of plastic with various cost cycles, you’ll be able to alternate playing cards utilization and maximize free credit score limits, significantly for high-ticket purchases.”

Discover offline, purchase on-line: Purchasing on-line is clearly turning into a most popular selection for consumers. Nevertheless, it isn’t for many who nonetheless favor to the touch and check out the merchandise earlier than shopping for. In fact, most e-commerce websites enable simple returns when you don’t just like the product, however the added activity nulls the comfort a part of procuring on-line.

A intelligent hack right here is that you simply make a visit to the close by mall at your comfort, check out the gadgets you need to purchase and examine the supply of these merchandise on-line. Principally, you’ll get 20-50% low cost on the MRP of the product out there within the retailer.

Store via third-party websites: As an alternative of visiting the e-commerce web site you need to store from straight, you need to undergo a third-party coupon web site to bag further 5-30% reductions.

Web sites equivalent to CashKaro and GoPaisa have tie-ups with e-commerce corporations they usually cost a fee to the latter for the visitors they redirect from their platforms. Part of this fee is given to prospects.

“We give over 65% of the fee within the type of cashback to our customers. The quantity of fee relies on the model and their particular person affords. On branded merchandise, cashbacks that we provide can scale back the general buy worth of the product by 40%,” stated Ankita Jain, co-founder and chief advertising officer, GoPaisa.

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