Managing finances wisely: Tips for International Consumer Day

In recent times, Israeli consumers are experiencing a double upheaval, a war of iron swords affects the Israeli economy in a substantial way and the cost of living has been blowing on the backs of consumers since before. How do we become wise consumers, and reduce the shopping basket? Tzvika Vilnai CEO of the 'Hot' consumer club with all the recommendations for proper financial management.

Since 1983, International Consumer Day has been celebrated all over the world on March 15 every year. Its purpose: to increase the consumer public's awareness of their rights, and to encourage wise and responsible consumerism. Zvika Vilnai, CEO of the 'Hot' consumer club, explains how we will conduct ourselves in a correct and calculated manner and reduce our shared expenses.

Shopping at the supermarket - where to buy?

Check the cost of your shopping basket before going to the supermarket and be prepared to split the purchase accordingly. You can easily compare the shopping basket from home using price comparison sites (Doge Pricez, my supermarket), which the marketing chains are obliged by law to update every few hours. Through the comparison, you will know which supermarket in your area of residence or near your workplace will sell you your specific basket At the best price - this is a test that is recommended to be done once in a while. You should beware of advertisements by food chains that claim to be the cheapest, the pricing policy varies between different baskets, and between different clerks of the same chain and even between different days of the week. Check which store is the cheapest for your basket on the day of purchase .

Sometimes you should split the purchase

Comparing your prices will reveal that part of the basket is cheaper in one place and part in another. This is due to a non-uniform price policy, designed to entice you to enter the stores. The chains highlight their discounted products in the various publications. But they make the profit on the other more expensive products. Sometimes you should split the shopping - grocery products in one place, vegetables and fruits in another place and cleaning products and perfumes in another place.

Don't give in to brands

When you arrive at the store where you chose to buy your basket, give the unbranded products or the lesser known brands a chance. A significant part of the price of the branded product is the huge advertising costs invested to instill in our minds the sympathy for this brand. In most cases, we will not even know the magnitude of the subconscious influence that acts on us when we choose a product from the shelf. In fact, the lesser known products do not fall in quality, but they are tens of percent cheaper. Because many times the same product is produced in the same place.

From fashion, cosmetics to children's toys: from shopping lists to influencers and Facebook groups

Use shopping vouchers or smart rechargeable wallets that can lower your basket costs. In addition, you can find hundreds of promotions that are only on social networks, influencers who provide coupon codes or groups on Facebook with discount codes - look for them. Go to the social networks of your favorite brands, see which influencers post them, follow them and note down the coupon codes they post.

Shopping online or in physical stores?

Quite a few of the brands in Israel are cheaper when purchased online than when purchased physically - check if the product online is cheaper than the product in the store itself. There are several times when we see a difference in product prices - physical versus online. In addition, there is an abandoned basket on online sites - quite a few brands know how to identify abandoned baskets and offer an extra discount that will encourage account closure, check it out. Also, there are benefits such as coupons, benefits for new users and free shipping that can make buying online more worthwhile, but it is important to check the return policy, payment security, and in general to verify the website's reliability.

Relevant to all types of shopping - join a consumer club - use the clubs you belong to

Almost everyone is entitled to join one of the active consumer clubs. Buying through a consumer club may save a lot of money thanks to agreements the club has made with various suppliers. Today there are clubs that can save tens of thousands of shekels and they have no monthly cost. At the Hot Consumer Club, customers who stick to the club's benefits throughout the year save about NIS 5,000 a year. Before making the relevant purchase, check if your consumer club has any benefits or promotions that can reduce the cost of the products.

Finally, Tzvika explains, "Passover is approaching, and despite the tempting sales before the holidays, people don't know that after the holidays there are in-depth sales because consumers buy less. This can be in a variety of categories - clothing, perfumes, furniture and more. Pay attention to whether the sales before your eyes are really attractive Or the name of the holiday cover sells it to you as a good deal, and also check if your consumer club gives a discount that is better than this or that specific sale."