Spend responsibly – Kapito tells consumers as Christmas is approaching

Executive director for Consumers Association of Malawi (CAMA) John Kapito has warned consumers not to spend money much during the Christmas holiday and must remember that they have bills to settle.

Kapito mentioned this in a statement.

Kapito said this year’s Christmas will be celebrated during one of the worst high cost of living in recent memory.

“The high cost of living has affected many Consumers in Malawi and Consumer confidence is at its lowest triggered by high inflation, high interest rates and high prices of goods and services,” he added.

According to Kapito, consumers are reminded to cut down unnecessary spending of money especially on luxury goods and services.

“We have duties to ourselves and families and that demands all Consumers to be wise during this festive season by cutting down buying products and services that are of no use to our wellbeing,” he said.

Kapito has also urged consumers to be careful during the Christmas holiday and are reminded to be alert when planning to spend money.

Therefore, kapito has asked consumers to follow some guidelines when planning for Christmas holiday which includes “Budgeting before any purchases are done, Plan all expenses with your family, Avoid impulse buying or any influence by promotions and advertisements, Avoid purchase of unnecessary luxury goods and services, Reduce or don’t go for unnecessary trips or travel, Avoid heavy alcohol drinking and attending to many parties and many other guidelines.”