Live within your means!

By Meluse Kapatamoyo

The Energy Regulation Board (ERB) recently announced a 15 percent increment on all petroleum products. In the capital, Lusaka, diesel is now trading at K6, 300 (US$1.50), with petrol selling at K6, 691. Kerosene was increased to K4, 409.

As is the trend in Zambia, a country with the most expensive petroleum products in the region, an increase in pump prices also means a swell in essential products. For workers this means time to “tighten your belt” and start living within your means.

Clothes
It’s the truth. Buying clothes can be addictive, even when one does not have money! That is why sales ladies can walk into your offices and sell overpriced clothes to you on credit. As an incentive, they’ll give you two months to pay. But most of the items you would not even buy if you found them in a store! Number one price cut, especially for women: getting clothes on credit! You want it on credit because you do not have the cash to pay for it. When those ladies walk into your office, look away. If the temptation is too much, walk out. You will be saving yourself the pressure of running from your debtors when they come for their payment.

Cellphones
Let’s break the myth, an SMS is not cheap. Not when you have not learned how to use it properly. According to communication experts, cellphone companies have become wealthy from just one tiny word on SMS - “Okay”. When someone sends you an SMS saying: “I’ll meet you at…” or “I’m on my way”, we respond “Okay”. It’s time to wise up – tell friends and family if they send a SMS that does not require a specific response, you will not be replying. In fact, like calls, send an SMS only when it is necessary. This includes jokes that say send to five people.

Eating Out
Let’s talk about the amount of money spent on lunches at work. Over the years, scrumptious and more expensive meals have been introduced in restaurants and the temptation is often too much to resist. But you will be shocked once you total up how much you spend on lunches at work alone. Advice: Carry a packed lunch from home, such as a sandwich and some fruit to nibble on. It will be very likely that your lunch will be much healthier than most take-away meals, and you will save money too.

Entertainment
I have come across people that just love to party, not only on weekends but also on Wednesdays (often known as “ladies night”). It is okay to hang out with your friends but nobody says it has to be at a club, which can prove very costly. Why not rather visit with friends, and share a pizza and your favourite drinks? And since we are talking living within your means, let’s face it. Few workers can afford to have DSTV entertainment in their homes, but many do. The monthly payments can best be channelled to other sources or better, placed in your savings.

Cash in Hand
Credit cards give the fake impression that you have a lot of money when you do not. The rule is, leave your credit cards at home and only take cash when you go shopping. That way you are more aware of how much you are spending.