Consumer Affairs Commission (CAC) Chief Executive Officer, Dolsie Allen, is encouraging consumers to create a budget ahead of shopping during the holiday season.
Planning a budget will keep consumers from racking up debt, as they are able to decide in advance how much money they have to spend and then stick to their limit.
“You must be economical because when you have limited resources.— Dolsie Allen, CEO of Consumer Affairs Commission
Allen noted that Christmas is an exciting time for consumers, “as there are so many new products on the market, but persons must make responsible decisions so that you won’t have many regrets after purchasing.”
“You must be economical because when you have limited resources, you have to look at your needs versus your wants,” she added.
Allen said that parents are being urged to include their children in their financial planning.
“Talk to the children while you’re budgeting so that they understand that mommy and daddy really don’t have a lot of money, so they will limit the demands that they usually have during the season,” she said.