Set clear priorities to avoid January blues

Christmas and New Year festivities are over, giving way to what some people call the hardest month of the year, January. With January blues knocking at your door, thanks to overspending over the Christmas and New Year’s, you will need a solid plan to take you through the month smoothly. This should not be that hard as you can always take advantage of slashed prices as some stores would want to get rid of the Christmas stock. In fact, this is one of the reasons that some people do their shopping in January, giving them an opportunity to save and own quality products at pocket-friendly rates. So, in a situation where you have limited cash, it is always advisable that you draw up a list of priority items required to push you through the first months of the year unscathed, and without comprising your health or values with ease. Lillian Uwase, a financial analyst, says people with school-going children should make scholastic materials the number one priority on their January shopping list. “Many salaried people are broke around this time, making January one of the most stressful periods of the year. With children returning to school, it requires a big budget, thus parents need to plan accordingly to ensure they are able to provide for their children’s scholastic needs, and other basic necessities of life. One must also put aside their school fees before anything else...this is of course, besides buying food supplies to take the family through the month,” she says. Justin Nezeyimana, a Kicukiro-based stationery products trader, says the number of people buying scholastic materials is increasing as the opening of the school year come closer. “We have started receiving customers who are buying scholastic materials since people know that prices tend to rise mid-January due to increased demand,” he says. He says parents are mainly buying scholastic materials, like exercise books, notebooks, pens, pencils, erasers, rulers, loose-leaf paper, calculators, and crayons, among others. Others are school uniforms, shoes, soap and warm clothing, such as jackets and jumpers, and materials for hygiene (girls), as well as suitcases (both metallic and modern ones), and school bags. Scovia Mutoni, a resident of Kicukiro, a Kigali suburb, says it is important to stock food supplies, arguing that a lot of people spend lavishly during the festive season, leaving them with low savings, if any. “I believe that to ensure smooth running of the home one has got to have enough food supplies. You can suspend other things but not foodstuffs...so food should be the top priority for the family needs this month, and maybe the coming month,” Mutoni says. For the health freaks, paying the family’s medical insurance is on the top of the agenda. James Kwitonda, a father of two, argues that a sound January budget should be centred on ensuring that the family members’ health is secure. “I think there is nothing more important than securing the health of people you love. That’s why I always subscribe for the health insurance scheme for January before hand to avoid any eventualities,” he says. In the same way, those that seek to sail through the year stress-free and in good shape should think of taking up membership at the neighbourhood health club or investing in some fancy sports kit to work out on their own. Maurice Kwizera, a fitness trainer at a Nyarutarama-based health club, says it is essential for Rwandans to embrace the habit of doing exercises regularly, noting that working out and ensuring you keep your body in shape and healthy should be everyone’s New Year’s to-do list. He says taking up membership in different health and fitness clubs would show that one values their life and wants to keep health. Kwizera says though this may be seen as luxury spending by some people, it pays off in the long-run with improved health and productivity as people are stress-free and less prone to sicknesses. If you cannot afford to subscribe for membership fee at health club, buy some sports kit to start jogging this month, he adds. The good news is that some shops and huge retail stores have cut prices of different products such as electronics, carpets, shoes and clothes to attract budget shoppers. However, one needs to watch out what they buy, especially those items with ridiculously low prices, as they may be fakes. Be a smart shopper; check out product labels for expiry dates, and ingredients, among other precautions. Your views James Kabera Phiona Mutesi James Kabera I know some people who save for January shopping to take advantage of the low prices of different products, which is a good financial strategy. However, one should watch out for unscrupulous traders who sell sub-standard or expired products... January shopping is interesting but requires a vigilant eye. Phiona Mutesi I think January is one of the best times to go to your favourite stores and buy stuff at a bargain. For instance, those classy devices that had eluded you for sometime could be at give-away prices. This is a time when stores might have no choice, but to cut prices if their businesses are to thrive. If I were to do shopping in January, my priorities would be home equipment and materials as they are ‘cheap’ but still authentic. Remy Mugabo Maurice Boshya Remy Mugabo Nothing beats the joy of buying products at lower prices in January. However, it is advisable that one gets their priorities right to maximise the opportunity. Clothes and shoes are an ideal this season. Maurice Boshya Since most people spend a lot of cash on festive season shopping, the beginning of the year is always a hustle for many. So, it is essential to budget for everything to reduce the January stress, especially if one has school-going children.

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Set clear priorities to avoid January blues