This archive report was first published on 10 December 2019.
6 Common Shopping Mistakes Kenyans Repeat Every Christmas and How to Avoid Them ¶
Published on December 10, 2019
Christmas is a time for joy, giving, and spending time with loved ones. However, it can also be a time for overspending and financial stress. In Kenya, many people repeat the same shopping mistakes every year, which can lead to financial difficulties in the new year.
According to Co-op Bank, one of the most common shopping mistakes is shopping without a budget. Before heading to the store to buy any gift or Christmas shopping for your household, determine how much you want to spend this holiday season. Most people think it is just about gifts, but it goes beyond that. There are several expenses like cards, parties, travel, and many others.
Stick to your budget and stop spending once you hit your holiday cash limit. List down everything you want to buy and estimated amounts, vis-à-vis the amount you can spend on each item, including gifts. Most importantly, stick to your budget, and stop spending once you have hit your holiday money limit.
Another common mistake is not having enough payment options at hand. There are many payment options besides using cash that can help you pay for your holiday shopping stress-free. Use Co-op Bank's mobile banking platform, MCo-op Cash, to monitor your spending. Checking balance on MCo-opCash is absolutely free. If you find yourself short of cash, you can also take a quick loan from your phone by just dialling 667# or going to the app and requesting one.
Carry your Co-op Visa card along in your wallet. It is accepted globally, so you can shop at any Visa-accepted store, pay for fuel, or even shop online without hassles or incurring any extra charges.
Other common shopping mistakes include buying to impress, forgetting people on your list, forgoing comparison shopping, and last-minute shopping. Buying to impress can lead to overspending, while forgetting people on your list can result in financial stress. Forgetting to shop around and carry out comparison shopping can also lead to overspending. Lastly, last-minute shopping can result in terrible prices and empty shelves.
By being mindful of these common shopping mistakes and using the right payment options, you can avoid overspending this holiday season and enjoy a stress-free Christmas.
