Only the lucky were completely unaffected by Covid-19, especially financially. From job losses to wage cuts, many of us have had to take a long hard look at our spending habits and rethink our savings strategies. Even without a pandemic, it is always a good idea to have an emergency fund stashed away. Turns out that members of the bazaar team had some interesting ways to stretch a dinar!
Farah Barakat (Mixed Media Content)
Smart Money Advice: Work smarter, not harder
Step one: make a meal plan for the week(or two weeks). Step two: curate a shopping list based on your meals for the week. Step three: buy only the ingredients you need for the week. Extra step (especially when it comes to meat and produce): only buy the quantities you need. Only need 3oz steak once a week for a family of 4? Then only buy 12 oz of steak.
Jennifer Cádiz (Mixed Media Solutions)
Smart Money Advice: Do you need it?
Yes we must support local businesses but in fairness if you must spend less, the first question you should ask yourself is, “Do I need X?” and really mean “need” not “want”. Instead of ordering food where it makes no economic sense i.e. it’s more expensive to buy a meal than it would be to make from home, look through your cupboards and devise meals from what’s already there. Buy dry goods like lentils, chickpeas, kidney beans, rice. When it comes to clothes, go through your cupboards and sort them out into sizes and seasons. Putting away the ones you don’t need for the moment saves space but also going through your stuff really shows you that you probably have everything you need and should not be buying anything new. Try swapping items with friends too, as someone’s unwanted goods could be another’s vital item. Try walking to where you want to go, and take buses where you previously would have taken taxis. All of these things will stretch your dinar a little further. I’ve no advice on saving; I’m still paying off my student loans!
Umika Pidaparthy (Online Producer)
Smart Money Advice: Research and compare
Just like you shop around different airlines for the cheapest airfares (oh travel, how we miss you!), researching the prices of your everyday essentials between different stores is one way to save! And now that e-commerce has expanded in Kuwait and online shopping is encouraged for social distancing, it has become easier than ever for consumers to get a good deal. Couple of factors to consider when running comparisons – a) Is the product local or imported? Depending on what it is, local products can be cheaper and you’d get the double benefit of supporting a local business. b) Do you need that product in bulk and if so how much? Every store will have a different bulk buying offer for the exact same type of product and you should check which works best for you. c) Is the actual product under the generic brand really that different from the name brand? You can save quite a bit buying generic/store name products if it is feasible. d) Are there any online-only offers or deals? By opting for these you could ultimately save a trip to the store. Do keep an eye for the delivery charges and make sure it is worth your purchase amount!
Yasmine El Charif (Content Manager)
Smart Money Advice: Do it yourself!
The DIY life is the way to go if you want to save some fils. From learning how to cook your favorite italian meals at home (Pasta is SO easy and cheap to make at home. As is Pizza, and glazed, and doughnuts!), to starting a dedicated at-home grooming routine. Our lives did drastically change during lockdown, and whether the consumer within you missed paying for your favorite services, trying to do things old-school will almost always guarantee to save you some dinars come the end of the month. So instead of embracing an all-or-nothing attitude, appreciate the notion of balance. For example, you can switch out your weekly mani-pedi ritual and skip a week to groom your nails at home in between appointments. Pizza Thursdays can be a DIY affair too.
Yasmin Gamal (Mixed Media Creator)
Smart Money Advice: Lists will save you (and your cash)
I try to never shop without a list. Despite advocating for order, structure and routine, deep down I am just a chaos muppet trying to wreak havoc. The only way I keep everything in its place is by adding it to a list. I have an ongoing grocery list that I add to whenever something is about to run out. That way I don’t randomly buy things I don’t need. I also have a long-term wish list for things I am saving up for, to motivate me to stick to the aforementioned list. This gives you the opportunity to think things over, do you really need this thing or was it just a fleeting feeling? I still make impulse purchases; they are just much more controlled now.
Photo by Micheile Henderson on Unsplash.
