Money saving tips this Ramadan

DURING the holy month of Ramadan, there’s a good chance of overspending on groceries and dining out for sumptuous Iftar and Suhoor meals.

But before you worry about putting on a lavish spread or splashing the cash on a fancy restaurant, keep in mind that these are times for friends, family and neighbours to come together.

To help you overcome the financial pinch of Ramadan during July, remember to stay on top of your finances and not let hunger get the better of your spending. The following tips will guide you to sensible and smart Ramadan savings…

Plan ahead

It is important to plan ahead to see how much you can realistically afford to spend on food each week before heading to the supermarket. In preparation for your weekly food shop, review your budget and only spend within your means.

To help you stay on track and make your money stretch, why not start a spending diary? This will help you to keep regular tabs on your average grocery expenditure so that you can recognise when you’re overspending on your regular limit.

Make a list

Writing a grocery shopping list is one of the quickest and easiest ways to ensure you spend within your means. Once you have your budget set in place, write down exactly what you want to purchase and don’t buy anything that isn’t on the list.

This tool will help you to keep a practical lid on your spending to avoid those tempting supermarket treats which may tip you over your weekly budget.

Remember timing

If you go shopping on an empty stomach you are far more likely to over indulge and purchase more food than necessary because hunger can easily get the better of you.

Strategically plan your supermarket sweep and shop directly after Iftar so you are less tempted to overfill your basket.

Maintain a healthy balance

Tempting Iftars and Suhoors treats can easily lure a hungry mind to spend a fortune, especially if you have a large family. Not only can these Iftar feasts be very expensive, you can also end up wasting a lot of food and overindulging due to the extra large portions.

Instead, prepare a nutritious, home-cooked Iftar meal with your family and friends, and try to limit yourself to dining out either once a week or fortnightly, depending on your budget.

Bargain hunt

During Ramadan, make sure you take advantage of all the coupons and discounts on offer at your local supermarkets, as these will help you to save on your weekly shop.

Different supermarkets sell different goodies at different prices so shop around to bag yourself a bargain on the items you buy the most.

Pic credit: freedigitalphotos.net

What are your top tips to avoid breaking the bank this Ramadan? Share with cashy…