FINANCE
SHOP WISELY
Have you ever found yourself grabbing an item from the supermarket shelf only to realise later you did not really need it? That is the danger of impulse buying. Children especially can plunge your shopping into a downward spiral since they want that expensive but unbudgeted toy, and they want it now!
Kennon Mbae, a seasoned finance professional with 20 years of experience, shares three key tips on how to fill your shopping basket with your ‘needs’, while keeping the ‘wants’ at bay.
Best timing for more savings: “There are seasons that come with discounts like Christmas offers, Valentine's Day and Black Friday sales in November. Attend product launches and exhibitions where vendors offer promotional discounts and clearance sales at affordable prices.”
Save by smart budgeting: “Budgeting is ‘telling your money where to go’. If this is not done effectively, money ‘finds its own way’. Having a budget, and sticking to it, goes a long way to good financial management.”
Bulk saves a buck: “Proper cash flow management affords you to buy larger quantities at once. Some supermarkets brand their products thatMbae says you can make more savings by comparing prices from different outlets. “Shopping is 20% personal knowledge and 80% behaviour. Adopt these tips and make them part of your shopping routine. They will help you keep more money in your pocket.”
