As a kid growing up, the arrival of Ramadan was informed by heavy shopping, home decoration, and gifts for friends and families. The markets were filled to the brim and shoppers got more value for less money. I remember that as kids, we would be given extra portions of food to encourage us to fast and everyone looked forward to the Holy month.
The atmosphere just felt and smelt like Ramadan.
In more recent years, the dire economic situation of the country has taken its toll on how Muslims prepare for and observe the holy month of Ramadan.
The prices of basic daily consumables have multiplied and shoppers get far less value for their money. A bag of rice, for instance, that was between N15,000 to N20,000 few years ago is now being sold between N70,000 and N80,000.
It is therefore important for every Muslim home to stay prudent while still being able to enjoy the month of Ramadan.
Below are 5 ways Muslim families and individuals could enjoy the holy month of Ramadan, even if they’re on a low budget:
1. Create a Ramadan shopping budget, and stick to it: Creating a shopping budget not only helps you save time roaming the market or the mall, but it also allows you to stay focused. Having a list and sticking to it also saves you from impulse buying and overspending.
2. Utilize Ramadan discounts and promos: As Ramadan approaches and throughout the month, both the markets and the social media are full of discounts and promos. There will be discounts on foods, clothes, accessories, etc. If you could, it’s good to leverage these sales discounts to save some money.
3. Lower shelves, cheaper prices: When shopping in a mall, beware of items placed at the top shelves. This is because many grocery stores often put the least expensive items on the lower shelves, and the more expensive ones at the top shelves. This is a psychological play since most people will take the first item they see at their eye level. So, make sure you check the lower shelves for cheaper prices.
4. Eat at home more: Eating home-cooked meals during iftar as opposed to eating out could help you save some money and eat healthier. It also helps you enjoy the spirit of Ramadan with your family and loved ones.
5. Record your expenses: When you keep track of your expenses, you will get a clear picture of your daily spending. Then, if you see that you are overspending, you can adjust them the next day so that your budget doesn’t expand at the end of the month.
Dear reader, I hope you find this helpful and I wish you a blessed Ramadan.
• Rilwan Akeyewale is a financial analyst and the founder of TechPlan Africa, business consulting company.
