Consumers Advised To Create A Budget

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.

Mrs. Allen, who was addressing a recent JIS Think Tank, 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.

Mrs. Allen said 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.

Mrs. Allen is recommending that consumers utilise the price enquiry tool on the CAC’s website www.consumeraffairsjamaica.gov.jm/ to help them make better financial decisions.

“Our price enquiry tool helps consumers to choose where to shop based on the prices in the supermarkets in your proximity. Every month we update our database on basic items and we ask that you check it out before purchasing as it gives a comparison of the baskets of goods you are looking to get,” she noted.

The price enquiry tool also provides information on petrol costs.

“We know that petrol prices change weekly, but we do monthly surveys on the prices and upload a trend analysis so that persons can assess the costs among the different gas stations,” Mrs. Allen said.

The CAC is the national agency responsible for consumer advocacy. For further information, persons can call 876-906-5425 or email info@cac.gov.jm.

Source: JIS