Over the years, online shopping has steadily become part of many Filipinos’ day-to-day lives. Case in point, in a 2023 study conducted by market research firm Statista about the online shopping habits of Filipino shoppers, 57% of the respondents said that they purchase an item or service online once every week. This comes as no great surprise, seeing how much more convenient shopping online can be compared to heading to your local mall or grocery store to shop.
Moreover, paying for your online purchases is also just as convenient since you can just use your credit card to do so. In fact, the best credit cards for online shopping can even provide you with additional rewards as you shop. Maya’s Landers Cashback Everywhere Credit Card, for instance, lets you earn up to 5% cashback on Landers purchases, 2% on dining, and 1% on other qualified purchases* each time you use the card to shop. Not only can you enjoy the best credit card for online shopping in the Philippines, you also rack up more savings for your next Landers grocery run in-store or online.
With how easy it is to shop online nowadays, however, some people may find it tempting to spend beyond their means. This could lead to going over budget or, worse, falling into a cycle of bad debt. To make sure you don’t overspend whenever you go online shopping, here are some tips to keep in mind.
1. Plan Your Purchases Beforehand
The convenience of online shopping can be a double-edged sword. On the one hand, you can browse through a wide array of items and search for whatever it is that you need in just a few clicks; on the other hand, this ease of shopping may encourage you to buy things you don’t really need just because you happen to come across them.
To avoid getting swayed by impulse purchases, plan all your purchases beforehand. This could be as simple as making a list of what you do need to buy and referring to it the next time you open your shopping app. Doing so builds a habit of being an intentional shopper or someone who carefully evaluates each item they buy as they shop rather than letting impulsiveness dictate their purchases.
2. Use a Budget Tracker to Monitor Your Expenses
Since you most likely pay your online purchases using a credit card or e-wallet, it can be easy to lose track of how much you’ve spent already. To avoid any surprises the next time you receive your credit card bill, use a budget tracker to monitor your spending and have a clearer picture of your expenses. Budget trackers let you categorize your expenses as well, allowing you to tag online purchases as you log them and easily notice if they’re starting to take over your monthly budget.
Another way to monitor your expenses is to use the accompanying app that comes with your credit card, as it usually displays each transaction and your current credit balance without you having to wait for your billing statement to come. For instance, you can check your Landers Cashback Everywhere Credit Card’s transaction history conveniently via the Maya app, allowing you to gauge whether or not your expenses are still within your budget for the month.
3. Utilize Your Card’s Spending Limits Function
If you often use credit cards for online shopping, then you can take advantage of your card’s spending limits feature to make it easier to stick to your shopping budget. Your Landers Cashback Everywhere Credit Card, for example, lets you set a spending limit through the Maya app. You’ll also find other options in there that let you limit what types of transactions are allowed for your credit card, which means you can momentarily block foreign transactions, cash advances, or even online payments in general, if needed.
By using these features, you get your credit card to work with you in avoiding overspending. After all, the best cashback credit card for online shopping is one that also lets you take full control of your spending power as well.
4. Avoid Having Your Payment Details Saved in Your Favorite Shopping Websites or Apps
As you’re shopping online, the store or app will most likely prompt you to have your payment details saved so you won’t have to enter them again next time. While convenient, this makes purchasing much easier—sometimes even taking just one click—and can lend itself to impulsive shopping. Hence, try not to have your payment information saved to avoid the temptation of quick checkouts. Having to type in your payment details each time may be a bother, but it’s a small price to pay for helping you be more mindful of your purchases.
5. Make Paying in Full a Habit
Shopping online using your credit card lets you get away from having to pay the item in full right away, given that you can delay payment until your card bill arrives. While this can be helpful in terms of making big-ticket purchases more affordable, making it a habit even for small purchases can make you complacent about your buying habits and lead to overspending before you know it.
Hence, think of your online purchases as something that you always have to pay in full. When your credit card bill arrives, make sure you’re ready to pay it in full rather than just the minimum amount due. This could deter you from making unnecessary purchases, knowing that it’ll add up on your credit card bill and you’ll have to pay it all in full.
Indulging in online shopping without breaking the bank is certainly possible, so long as you’re willing to cultivate habits that won’t lead you to impulsive purchases or overspending. Let the tips above guide you to becoming a more responsible online shopper so that you can check out your cart guilt-free, knowing that your purchase is within budget and reason.
* Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
