Consumers are urged to change their behaviour and prioritise their spending to enable them to cope with the high costs of living. TheFinancial advisers say, avoiding unsecured debt as well as living within your means, could help consumers cope with increasing expenses.have reduced consumer disposable income as salary increases have not kept pace with inflation. Consumers have been urged to differentiate between needs and wants, and to reduce luxury costs.
Reviewing the different insurance offerings can also help in deciding which insurance you can do without. Paying a bit more towards a home loan will help reduce the term and the interest a consumer is likely to be charged. And experts say you don’t have to buy a new car every five years. If you service your car regularly, it can last longer and help you save money.