How to save money at the end of financial year sales

A warmer than usual autumn (scarily a collection of the warmest months on record in much of Australia) means retailers are now desperate to shift their winter stock. Many retailers are rolling out their end of financial year sales earlier than in prior years in a desperate bid for your hard earned cash.

Of course, the easiest, and hardest, thing to do is not go shopping. But how hard is that for most people when they see a sale sign?

Before you get excited by those bright red signs (I know you know that's a marketing trick) screaming "75% off"and handover your credit card, take a look at this quick checklist.

• First, don't look at any catalogues and unsubscribe from emails touting sales (or at least set them up to go into a different email folder where you don't immediately see them). If you hadn't seen the item was on sale, would you still have needed it?

• Next, do your own stock take at home and evaluate what you already have to determine needs from wants:
• Pull out your winter clothes and be honest about what gaps there are. Do you really need another coat? Or will one of the 4 I (er, I mean you!) already own do just fine?
• Next do the same for the kids clothes; what do you already have stashed away in the next couple of sizes? If you're anything like me, you might find you have 27 long sleeve tshirts in size 5 but no warm pants. Pants therefore go in the "need" category. 
• Do the same for other categories you might be tempted to spend money on; sheets, towels, electronics, shoes, bags etc. Are they needs or wants?

• Make a list: Now you know where the gaps are in the "needs" category, make a list and stick to it.

• Shop around: Do your research for the items on your list and know your prices. Is it really a good deal or is it a gimmick? Is it feasible to get the same item 2nd hand to save both money and resources? I recently picked up a lovely navy coat for the baby from a buy swap sell site on Facebook that was on our "needs" list, looks brand new and is a more environmentally friendly option than buying new all the time. 

• Shop online first, fill a basket and leave it overnight, or better yet for a couple of days. Do you still need / love it in the morning? I often find I can take most things out of my cart with no regrets, whereas if I bought the physical item in the shop I would be unlikely to return it if I changed my mind.

• Have a mortgage? Work out how much extra you'll save by putting that $200 you were going to blow on a "bargain" coat onto your mortgage. Over the life of the loan that $200 will probably save you double that in interest you don't have to pay. Now that's a real investment piece. Still need that coat?

• Picture the item in 1 month; 6 months; 12 months. Where is it? Are you still using it? Is it clutter? What would Marie Kondo say; does it spark joy? Is it in landfill? How will you dispose of it?

The reality is, I'm female and I still like the odd shopping spree. But I'm learning to be more mindful in my choices and happier to live with less, to leave more for my kids.