Consumers now map out own cost-cutting scheme

CEBU, Philippines - More and more consumers are now starting to realize the need to practice cost cutting measures to lessen their expenses and spending especially on lesser important items.

In a random interview, respondents from different sectors lamented on feeling the crunch and admitted on practicing practical ways to save and cut on their costs.

Roxan Bahandi, a call center agent of Convergys said that despite the ample amount of income she receives every pay day, she has started to realize that her spending has started to change.

She said that she used to buy heaps of clothes in retail stores and boutiques in malls every pay day but now she no longer splurge on clothes but buys more essential stuff first.

And opposed to eating out in fancy restaurants in the city, she now prefers to buy her snacks in the grocery to avoid eating out in fast food chains, which will cost her more.

“In spending on food or clothes, I realized that it’s more practical if I buy the more affordable ones with same quality than those with leading brands, which are more expensive,” she said.

She said that this Valentines day, instead of giving out gifts bought from gift shops to her loved ones, she will just make them presents in order to save.

Single mother Mika Ruhaina Acedilla who works as a personal assistant of a provincial board member is practicing bulk buying when it comes to her groceries.

She said that instead of buying small portions of essential items such as milk for her baby and diapers, she buys the bigger volume so that it can be consumed for a longer period and it will cost her less compared to items in sachets.

“With the crisis, I have noticed changes in my buying behavior. Now, I no longer buy on impulse but instead before buying I evaluate its quality, cost and total value and also avoid buying unnecessary wants unlike before wherein if I like something I immediately buy it without second thoughts,” she shared.

Meanwhile, a fourth year IT student from the University of San Carlos Genteel Mahinay shared that since he depends so much on his monthly allowance sent by his family from their province, he started to do cost cutting measures too to lessen his spending and save for things that is more important.

He shared that he has lessened less important expenses and instead stays home to avoid spending on food, clothes, fare and the usual vices like alcohol and cigarettes.

“Before, I used to spend and spend for just anything but now I have learned to save and spend only for what is essential and I rarely go out so that I will spend lesser,” said Mahinay.

Family man Luis Rivera on the other hand, a security guard posted in Mandaue said instead of riding the jeepney in going to nearby places he now prefers to walk.

He said this are just simple ways to save because times are tougher now as prices are up especially on basic commodities.

According to the National Statistics Office (NSO), consumer prices in January have eased further as inflation rate stood at 7.1 percent, lowest ever recorded since March last year when prices of goods and services rose by 8.3 percent.

However, at current levels, January’s inflation is still higher than the 4.9 percent posted during the same month last year.