Business consultant, Charles Mensah has advised people, particularly couples not to buy things because they are cheap.
He said they should consider the relevance and use of the item before deciding to purchase it, emphasizing that they should buy because they need it.
The business consultant made these comments in a conversation with Joy Prime’s Roselyn Felli on Changes show.
“Don’t buy things because they’re cheap; buy it because you need it. You bought the cheap thing, it comes home and for 3 days the thing is lying there, especially clothes. You’ll say when you got to the shop, they reduced the prices. Yes but do you need it?” he quizzed.
He noted that all of these practices make married couples unable to save as it causes unnecessary spending because they fail to discuss their budget and expenses collaboratively.
Mr. Mensah reiterated that it is vital for partners to create joint accounts, discuss and take their expenditure from it to help them to save as much as possible.
“It’s important that you have that discussion first and then you plan it and decide that you’ll save 15% of your money. That 15% should not be in your savings account; it could be in insurance premium.”
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