Bebe Akinboade
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4 WAYS YOU’RE THROWING MONEY AWAY

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The fact is we all waste money at some point. But as adults, it is necessary
to identify some of these ways we virtually throw money away and be responsible
enough to learn to avoid it. It is better this way as it will help to avoid
stressful money problems in the future. Jumia Travel, the leading online travel
agency, shares 4 ways you’re throwing money away.

UNUSED MEMBERSHIPS
This is very popular particularly with Nigerians. We pay for club
memberships here and there, especially gym memberships, and end up having
little or no time (mainly because of work demands) to get our money’s worth out
of these memberships. The funny thing is these fees are still renewed
periodically. This money can be better used for investment and legitimate
business ventures that can secure your financial future.
TAKING THE ‘UPSELL’
Marketers know fully well what they’re doing with this. Many times, they
attempt to entice consumers with the word ‘free’ and cause them to make more
purchases (and thus spend more money) than was intended. There’s always some
promo or some giveaway to entice consumers to spend just a little more (the
puzzling part is that most times consumers don’t even really need these extra
things they spend money on). Avoid falling into that trap and throwing money
away thinking you’re making a good deal.
WASTED FOOD
This is very popular and to be honest one can’t really take the blame
for this. Mainly because of the erratic power supply in the country, foods tend
to spoil much sooner than they should. One way to manage this is to do some
meal planning that takes into consideration the erratic power supply. Then, if
you want to buy foodstuffs in bulk be sure you have a plan B to help preserve
it in the event of lack of or inadequate power supply. You should also avoid
grocery shopping when hungry; you tend to buy way more than you need when you
do.
FAILING TO NEGOTIATE
You have to learn how to negotiate to get the best prices for yourself.
This speaks for itself and hardly needs more explanation. Another thing you can
also try to do, especially in cases where you can’t negotiate, is to be patient
and make your purchases at periods you know you would be able to get good
discounts and generally be able to take advantage of existing promotions.

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