Personal Finance

Pinterest How To Save Money

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 4 minute read

There are currently 653 pins across all of my Pinterest boards. Furthermore, I am followed by 514 individuals and follow 149 others. In fact, I frequently use Pinterest as a form of relaxation; after dinner, I’ll lay in bed with my tablet and browse, pinning anything from new recipes to new outfits to new beauty routines. 

Since its inception, Pinterest’s stated goal has been to serve as a digital pinboard in which users can “pin” images representing ideas and inspiration for later use.

Pinterest’s drawbacks are few in comparison to the many benefits it offers, yet they are still there. The temptation to buy something on Pinterest is real. Looking at all the adorable clothing, adorable home decor, and delicious meals, my budget is quickly depleted.

Pinterest is a great social media marketing tool, and I’ve learned a lot of useful things there that have facilitated my work as a blogger. Unfortunately, it’s only a click away to convince yourself that you need a new wardrobe, a home full of chevron accents, and a new diet based entirely on pricy organic findings. 

The key to successful Pinterest use is moderation so that half an hour of pinning doesn’t also result in a wiped-out bank account.

Tips for Cutting Costs on Pinterest

1. Set an Online Spending Limit

You should budget for your Pinterest spending if you know you’re going to make a buy. You can’t know when you’ll have a sudden hankering for a new piece of cookware, but you can leave some wiggle room in your existing budget for those impulse purchases. I

f you’ve spent all your disposable income on the internet, it’s time to log out of Pinterest and do something else. It’s a practical strategy for being able to buy some of the interesting things you see on Pinterest without going into serious debt.

2. Look for Less Expensive Options

Recently, I was reading Pinterest and came across an amazing pair of shoes that I knew I had to have. They were extremely expensive, unfortunately. Nevertheless, I longed for them, pinned images of them, and almost pulled the trigger to buy them. 

When I finally got around to searching for similar products using Google Shopping, I discovered that while the original shoes cost $80, I could get a similar pair for around $20 from a different online merchant.

Do some digging to see if you can find the item you saw on Pinterest for a lower price if you truly need it. You can save a lot of money by using Google’s image search and shopping features.

3. Look, Do Not Browse

The clock has struck, and I haven’t a clue what to feed my family for dinner. I open Pinterest and begin looking for new recipes to try. Although I have already done my grocery shopping for the week, I feel compelled to run out and buy everything I need for this week’s dinner because I just saw the most amazing recipe for a grilled steak salad.

If you’re looking for supper inspiration on Pinterest but don’t want to go overboard, I recommend using the search bar instead than perusing the various categories. Simply searching for chicken recipes will return only those dishes that use chicken that you already have in your pantry.

4. Start a Timer.

A lot of time can be wasted on Pinterest, and the more time you spend there, the more likely you are to start coveting someone else’s life details like their house, wardrobe, kitchen, or even their pay. 

Use a phone timer if you’re a Pinterest addict who spends too much time on the site. Allow yourself a short period of time to browse the most recent pins or conduct a targeted search, but remember to sign out when your time is up!

My favorite add-on for Firefox is undoubtedly LeechBlock. Set it for a specific time period, and the website will be locked when that time has elapsed, preventing you from returning to mindlessly browse. For those who use Google Chrome, the StayFocusd add-on serves the same purpose.

5. Avoid Comparison

Don’t forget that online, people often show the most positive aspects of themselves, their families, and their lives. You should keep in mind that you don’t have all the facts before you when you come across a blog or website on Pinterest that makes you envious. 

If you already know that following the pins of dream pinners will just make you envious, you should probably avoid adding them as friends.

6. Make Use of What You Have

I wish I could afford all the cute clothes I find on Pinterest, but alas, my bank account can only take so much. Instead of looking to others’ pins for clothing ideas, I look to my own closet and the clothes I already own. By browsing the boards of other pinners, I can get ideas for how to wear a pair of colorful skinny jeans that I haven’t worn in a while.

Decorating your home is no different. Got a dusty armoire lying around? If you want to save a lot of money instead of buying brand-new furniture, research several refurbishing techniques.

7. Cancel Your Account

It may seem extreme, but if you find that you can’t limit your Pinterest spending, you should probably cancel your account. It’s unhealthy to let Pinterest make you want items you can’t afford, unhappy with what you already have, and cause you to exceed your budget. It’s true that you’ve experienced life before and after Pinterest.

Bottom Line

Pinterest is not only a terrific resource for finding new products and inspiration but also a lot of fun to use. Yet you shouldn’t allow that to discourage you from sticking to your financial plan or lead you to make unnecessary purchases online. By making thoughtful and strategic use of the platform, you can enjoy its advantages while avoiding its disadvantages.

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